Cement News tagged under: Nigeria
Dangote Cement22 May 2019, Published under Cement NewsThe first quarter of 2019 saw Dangote Cement report a 2.3 per cent YoY increase in volumes to 6.3Mt. Over the same period, however, group revenue declined by 0.8 per cent to NGN240.2bn (US$668m) while EBITDA contracted by 11.2 per cent to NGN111.8bn. Nigeria: despite a subdued economy, the cement market grew by six per cent in 1Q19 with Dangote supplying almost 4Mt. Revenues, however, fell by 2.3 per cent to NGN169.9bn, EBITDA contracted by 10.4 per cent and margins fell to 60.9 per cent ... |
Post-merger CCNN reports improved 1Q19 results08 May 2019, Published under Cement NewsNigeria’s Cement Co of Northern Nigeria (CCNN) saw its net profit after tax soar by 236 per cent YoY to NGN3.636bn (US$10.1m) in the first quarter of 2019 ended 31 March. The merger with Kalambaina Cement Co Ltd is seen as a key reason for the improved profit figure. In the post-merger three-month period revenue saw a 213 per cent hike to NGN16.886bn from NGN5.394bn in 1Q18. Sales volumes increased by 233 to 411,945t with a capacity utilisation rate of 82 per cent. Strong domestic demand... |
Dangote Cement sees volumes rise, revenues down in 1Q1929 April 2019, Published under Cement NewsDangote Cement reported increased volumes of 6.3Mt, up 2.3 per cent YoY, in the first quarter of 2019. However, group revenues slipped 0.8 per cent to NGN240.2bn (US$668m) and group EBITDA fell 11.2 per cent to NGN111.8bn. Nigeria Despite a subdued domestic economy, Nigeria’s cement market remained robust, expanding by six per cent in the 1Q19. However, the rate of growth slowed in February and March. As a result, Dangote’s Nigerian operations supplied nearly 4Mt, its third-highest qua... |
Ebonyi plant receives government approval19 April 2019, Published under Cement NewsThe establishment of Ebonyi Cement factory (EBOCEM) at Okpoto, Ishielu, Nigeria, has been approved by Ebonyi State Governor, David Umahi. Meanwhile, a committee that will be led by the Commissioner for Solid Materials, Eng Francis Orji, has been set up to implement the plan. The government will hold a 10 per cent stake in the venture. |
CCNN reports record net profit of NGN5.7bn in FY1811 April 2019, Published under Cement NewsCement Company of Northern Nigeria (CCNN) has released its FY18 results, reporting a net profit of NGN5.7bn (US$15.75m) , 77 per cent higher than in 2017. The earnings report is the first since the merger with Kalambaina Cement. Revenue reached NGN31.7bn, up 62 per cent YoY. EBITDA rose by 86 per cent to NGN7.9bn. CNN produced 0.76Mt of cement and sold over 0.74Mt. Sales in Nigeria rose by 49 per cent YoY to NGN28.9bn, while export figures rose from NGN0.2bn in 2017 to NGN2.9bn in 2018. T... |
BUA Group signs contract for new power plant25 March 2019, Published under Cement NewsNigeria's BUA Group has signed a contract with Finland-based Wartsila Oy for the construction of a 48MW power plant at its Sokoto Cement facility. The power project will supply line 3 and adds to the 100MW of captive power that the company already utilises. "We can't compromise on our quality. We are known to provide quality products and services to our customers and we are assured that Wartsila aligns with this vision of ours. They have an impeccable and intimidating track record and we a... |
Dangote Cement reports rise in group revenue for 201828 February 2019, Published under Cement NewsNigeria’s Dangote Cement announced a 11.9 per cent YoY rise in group revenue to NGN901.2bn (US$2.48bn) from NGN805.6bn for the full-year 2018 period. The results were driven by a 11.4 per cent increase in Nigerian cement sales to 14.178Mt and a 9.5 per cent higher revenue per tonne for pan-African operations. Group EBITDA advanced 12.1 per cent to NGN435.26bn, compared with NGN388.14 of 2017. Meanwhile, total cement sales were up 7.4 per cent to 23.535Mt. "This is a record financial per... |
Unitherm-Cemcon commissions rotary burner order19 February 2019, Published under Cement NewsUnitherm Cemcon successfully commissioned the firing system for a new 6000tpd plant in Nigeria (Edo State) in December 2018. The greenfield plant of BUA Cement group was supplied by CBMI Construction Co Ltd. Unitherm's scope of supply included: • one rotary kiln burner MAS/6/KO.EG.SO (fuels: coal, natural gas, heavy fuel oil) with a nominal capacity of 113MW including accessories like burner trolley, ignition burner and flame monitoring • four UNICAL-KO-EG-SO-4000 calciner burners (fuels:... |
Ashaka Cement to start 16MW power plant15 February 2019, Published under Cement NewsAshaka Cement Co is set to inaugurate a 16MW power plant project in Nigeria. Managing Director of Ashaka Cement, Rabiu Abdullah Umar, said the power plant costs US$30.5m. "We are helping to remove ourselves from the demand for energy, and providing our own solution, which means a minimum of 16MW of electricity, will now become available to the public grid for the people in the region to enjoy from," said Mr Abdullah Umar. "The power plant, infrastructure, and cement capacity are all testam... |
Olesegun Olusanya resigns from Dangote Cement board05 February 2019, Published under Cement NewsOlusegun Olusanya has resigned form Dangote Cement Plc's Board of Directors. The cement maker disclosed on Monday Mr Olusanya informed the board that he would pursue other opportunities. No reason was given in a statement issued by the leading cement manufacturer for the decision of Mr Olusanya. "This follows his decision to voluntarily resign," the statement signed by the company secretary, Mr Mahmud Kazaure, stated. Mr Olusanya had served on Dangote's Board of Directors since 2010. |