Cement News tagged under: North Africa
Ciments de Bizerte reports TND12m loss in 1H2229 September 2022, Published under Cement NewsTunisia-based Ciments de Bizerte posted a loss of TND11.9m (US$3.6m) in the first half of 2022 when compared with a profit of TND1.3m in the 1H21. The company’s operating result is a loss of TND7.2m in the 1H22 when compared with a profit of TND6.8m in the 1H21. Revenues were down to TND57.8m in the 1H22 from TND72.3m in the year-ago period. The company has attributed the fall due to a decline in both domestic and export markets. In addition, the company saw a 56 per cent rise in petco... |
LafargeHolcim Morocco reports 27% drop in 1H net income28 September 2022, Published under Cement NewsLafargeHolcim Maroc posted a 27 per cent YoY drop in net income to MAD759m (US$69.5m) at the end of June 2022. Consolidated turnover stood at MAD4004m, level with the year-ago period as the company faced unfavourable market conditions and a sharp rise in input prices. Operating income was down 17 per cent to MAD1464m as fossil energy prices surged and were only passed on to prices partly. In addition, the increase in social contributions to MAD176m also impact the group’s 1H22 result. ... |
Votorantim Cimentos Maroc signs JV for industrial waste pre-treatment platform23 September 2022, Published under Cement NewsVotorantim Cimentos Maroc and Veolia Group have signed a joint venture shareholding agreement for the implementation of an industrial waste pre-treatment platform. This action is part of Votorantim Cimentos Maroc’s efforts to decarbonise the sector, aligned with United Nations commitments that align with the objectives of the Paris Agreement. This platform will allow the African cement producer to reduce energy-related CO 2 emissions by maximising the recovery and co-treatment of ... |
Private investor ups stake in Arabian Cement14 September 2022, Published under Cement NewsPrivate investor Sadiq Ahmed Sadiq El Sewedy has increased its share in Egypt-based Arabian Cement Company (ACC) from 9.5 per cent to 11 per cent at a cost of US$1.6m. The deal was handled by Al Ahly Pharos and EFG Hermes Holding. The opening six months of 2022 saw ACC post revenue of EGP2.129bn (US$111.2m), significantly up from EGP964.9m in the same period a year earlier. Consolidated profit surged from a net loss of EGP23.28m to a profit of EGP119.49m over the same period. . |
Energy crisis - plant closure warning09 September 2022, Published under Cement NewsCEMBUREAU this week called for urgent action at a European and national level to help tackle the rising cost of energy, which it warns “will lead to widespread plant closures across the EU, creating a crisis in the construction supply chain.” Some EU member states have seen their electricity prices increase 10-fold compared to last year. According to CEMBUREAU, 1t of cement requires around 110kwh of electricity to produce. With electricity prices now between EUR700-1000mwh in several EU memb... |
Moroccan cement deliveries see 5% dip in August09 September 2022, Published under Cement NewsCement deliveries in Morocco declined 5.4 per cent to 1,071,990t in August 2022 when compared with August 2021, when 1,132,900t was dispatched, according to the country’s cement association, APC. The data includes shipments by APC members Asment Temara, Ciments de l’Atlas, Ciments du Maroc and LafargeHolcim Maroc. In the first eight months of 2022, shipments reached 8,208,743t, a drop of 7.2 per cent when compared with 8,841,025t in the year-ago period. |
Carthage Cement reports 5% fall in 1H net profit09 September 2022, Published under Cement NewsTunisia-based Carthage Cement posted a five per cent drop in net profit to TND15.3m (US$4.8m) in the 1H22 when compared with TND16.1m in the 1H21. Revenues in the January-June 2022 period advanced three per cent to TND168.6m from TND163.8m in the year-ago period. Operating expenses increased by three per cent YoY from TND133.6m to TND138.4m in the 1H22. As a result, the company’s operating profit contracted by 5.5 per cent to TND36.6m while in the year-ago period it had reached TND38.7m... |
Ciment du Maroc reports 5% rise in turnover30 August 2022, Published under Cement NewsHeidelbergCement Group -owned Ciments du Maroc posted a five per cent increase in turnover to MAD1.8bn (US$170.7m) in the 2Q22 from MAD1.7bn in the 2Q21. In addition, the company increased its investments by 195 per cent YoY to MAD160m as a result of the construction of its 0.7Mta Nador plant in northern Morocco. The facility is expected to come on-stream in the 3Q22. |
July deliveries drop 30% in Morocco24 August 2022, Published under Cement NewsCement deliveries by members of Morocco’s cement association, AFCP, declined by 29.8 per cent in July 2022 to 630,479t from 898,429t in July 2021, according to Ipsos. The data is the aggregate delivery volume of Asment Temera, Cements de l’Atlas, Ciments du Maroc and LafargeHolcim Maroc. In the first seven months of 2022, cement deliveries by APC members fell 7.4 per cent YoY to 7.137Mt from 7.708Mt in the 7M21. |
Misr Qena Cement Co records 24% profit rise in 1H2218 August 2022, Published under Cement NewsThe consolidated financial statements of Misr Qena Cement Co revealed an increase in the company's profits by 24 per cent during the first half of this year. The company achieved a net profit of EGP85.69m (US$4.5m) during the period from January to the end of June 2022, compared to EGP69.1m in the same period last year. Misr Qena Cement recorded sales during the 1H22 of EGP1.29bn, compared to EGP1.28bn in the same period last year. The company recorded a net profit of EGP80.85m from ... |