Cement News tagged under: Corporate
3Q14 results: Cemex’ gearing stands at 157%24 October 2014, Published under Cement NewsDuring the first nine months of the year, Cemex’ turnover increased by 4.6 per cent to US$11,870.9m while the EBITDA was 1.8 per cent higher at US$2037.1m. The trading profit advanced by 24.2 per cent to US$1150.2m and the net interest charge rose by 11.2 per cent to US$1266.6m. The pretax result went from a US$174.3m loss to a profit of US$132.2m. A 7.1 per cent lower tax charge led to a net attributable loss 44.5 per cent lower at US$325.9m. The net debt at the end of September was 1.8 per... |
Cementos Portland reports EUR45.3m net loss in 9M1424 October 2014, Published under Cement NewsSpain's Cementos Portland has reported a EUR45.3m net loss in 9M14, a 92.1 per cent increase when compared with the loss noted in 9M13. Turnover fell by 1.6 per cent YoY to EUR406.6m as non-profitable plants were closed, but cement sales were up by five per cent. EBITDA rose 95 per cent to EUR82.6m, fuelled by efficiency measures implemented in Spain and the US, the deregulation of the cement industry in Tunisia, sustained growth in the US and improved emission rights sales in Spain. |
Saudi Cement 3Q14 profits better than expected24 October 2014, Published under Cement NewsSaudi Cement posted better than expected 3Q14 financial results, beating consensus estimates, according to Al-Rajhi Capital. The cement producer’s net profit grew marginally to SAR232m (US$61.8m) by +1.3 per cent YoY. The Saudi cement sector is gradually recovering from the effects of a labour crisis, with total local sales growing 5.4 per cent YoY in September. Saudi Cement sold 1.64Mt of cement in the domestic market, down -8.5 per cent YoY, in line with Al-Rajhi’s expectations. However,... |
PPC Zimbabwe to invest US$86m in extra capacity24 October 2014, Published under Cement NewsPPC Zimbabwe announced a US$86m investment package in Zimbabwe over the next three years as it expects rising cement demand due to infrastructure projects despite a generally stagnating building sector. The funds are earmarked for manufacturing capacity and equipment. Road-building projects and exports to Zambia, Malawi and Mozambique are generating “significant” demand, according to the company’s MD, Lekula Njombi. The cement producer also expects to supply product to private-sector powe... |
Semen Indonesia starts Tuban WHR plant construction24 October 2014, Published under Cement NewsSemen Indonesia has commenced the construction of a 30.6MW power plant at its Tuban cement works to reduce the company’s electricity costs. Using heat from the cement production process, the waste heat recovery plant represents an investment of IDR638bn (US53m). The project is expected to be completed in 26 months’ time with the plant due to come online in 2H16. In 2013 Semen Indonesia signed a memorandum of understanding (MoU) with Japan-based JFE Engineering Corporation for the WHRS ... |
Egypt: Arabian Cement’s profit decline 32% in 9M1424 October 2014, Published under Cement NewsEgypt's Arabian Cement made a EGP209.57m (US$29.3m) post-tax net profit for the nine months to 30 September, according to the unaudited standalone financial results. The firm posted EGP309.3m for the same period a year earlier. Cement sales increased 17 per cent to EGP1.78bn, up from EGP1.53bn. |
Cemex says no bid on Lafarge-Holcim assets24 October 2014, Published under Cement NewsMexico-based Cemex has announced it will not make an offer for Holcim and Lafarge assets that are available due to the proposed merger of the two cement giants, said Cemex CEO, Fernando Gonzalez, in a conference call with analysts. |
Claassen to replace Tomes as PPC MD24 October 2014, Published under Cement NewsJohann Claassen, former head of domestic operations, is to become MD of South Africa’s PPC. He will replace Richard Tomes who resigned effective Thursday to “pursue other opportunities”. "Johann is a professional engineer who joined PPC in 1989 and has served as executive of cement operations and of lime, and held various other senior and general management roles across the cement and lime divisions," PPC said in a statement. |
Holcim (Lanka) wins Silver SLIM brand award24 October 2014, Published under Cement NewsSurpassing several high-profile brands from several different sectors and further cementing its place as one of the leading brands in Sri Lanka, Holcim (Lanka) won the prestigious Silver Award as the Turnaround Brand of Year at the country’s SLIM Brand Excellence Awards 2014 at BMICH. Philippe Richart, CEO, Holcim (Lanka) said, “Winning this award took a lot of hard work and dedication to turn our brand around and bring it to this position of strength. When evaluating the progress of the br... |
Cemex: Colombia and Panama boost 3Q14 results23 October 2014, Published under Cement NewsCemex Latam Holdings SA (CLH) reported consolidated net sales of US$1.324bn during 9M14, reflecting a three per cent YoY rise. Net sales experienced a three per rise drop in 3Q14 when compared to 3Q13 as revenues from housing solutions projects were lower. After adjusting for this effect, consolidated net sales rose by five per cent during 9M14 and by six per cent in 3Q14, on a YoY basis. Carlos Jacks, CEO of CLH, said: “During the third quarter we continued to enjoy a favourable demand en... |