Cement News tagged under: South Asia
Holcim Philippines sees net profit slump in 1H2212 August 2022, Published under Cement NewsHolcim Philippines Inc has reported revenue of PHP12.2bn (US$219.2m) in the first half of 2022, down from PHP13.7bn in the same period a year earlier. EBITDA has declined from PHP3.2bn to PHP2.1bn over the same period, with net profit falling from PHP1.6bn to PHP661m. In the second quarter, ended 30 June 2022, revenue came in at PHP5.4bn, compared to PHP6.9bn in the 2Q21. Operating EBITDA slipped from PHP1.4bn to PHP1.1bn, and net profit slumped from PHP721m to PHP240m. The company has... |
Eagle Cement posts increase in net sales in 1H2209 August 2022, Published under Cement NewsIn the first half of 2022, Philippines-based Eagle Cement Corp saw its net sales advance to PHP13,680m (US$246m), compared to PHP11,057m in the same period a year earlier. EBITDA in the 1H22 came in at PHP4132m, marking a 13 per cent YoY decline. EBIT was down 16 per cent to PHP3501m over the same period, while net income contracted by 20 per cent to PHP2966m. The cost of goods sold in the 1H22 stood at PHP8856m, up 49 per cent from the PHP5934m seen in the 1H21, while operating expenses e... |
Holcim sued by Indonesian island over climate change14 July 2022, Published under Cement NewsResidents of an Indonesian island threatened by rising sea levels are suing Holcim over its carbon emissions, according to TopWireNews. The island in question, Pulau Pari, depends on fishing and tourism for its economy but due to climate change large swathes of the island are expected to be submerged under water in 30 years' time, say the residents. They are now seeking compensation from Holcim for the damage they have already suffered as a result of climate change, as well as funds for floo... |
Philippine government urges cement producers to use plastic waste16 March 2022, Published under Cement NewsTo help reduce the country’s solid waste generation by at least 40 per cent Philippine Department of Environment and Natural Resources (DENR) has requested cement producers to explore ways to use plastic waste as a raw material, reports The Manila Times. "When all these cement plants will participate, we can dramatically reduce the volume of plastic waste which will be now regarded as raw materials of the cement plants in their current processing," said DENR-EMB Director William Cuñado, ci... |
Taiheiyo Cement Philippines retires old kiln to prepare expansion25 November 2021, Published under Cement NewsTaiheiyo Cement Philippines has retired its old kiln to make way for the installation of its new line, which will increase capacity from 2500tpd of clinker to 6000tpd by mid-2024. The old kiln has been operational for 30 years, according to Yoshihito Izawa, CEO. “Now we have decided to build a new line. It is inevitable to dismantle the whole facility to construct a completely new one. I am deeply grateful for this facility that has contributed to our business activities,” said Mr Izawa. ... |
Holcim Philippines signs contract for two solar power plants22 November 2021, Published under Cement NewsHolcim Philippines has signed a 20-year deal with Blueleaf Energy, a leading renewable energy company, to deliver solar power to its plants in Norzagaray, Bulacan, and Bacnotan, La Union. As part of the agreement, Blueleaf will finance, build, operate and maintain solar energy facilities with a combined capacity of 29MW, which are expected to supply up to 15 per cent of the energy requirements of the two Luzon plants by 2024. "Reducing the carbon footprint of our operations is one of our... |
Holcim Philippines sees 124% net income increase17 November 2021, Published under Cement NewsHolcim Philippines reported a 124 per cent YoY increase in net income to PHP2.3bn (US$45.66m) in the first nine months of 2021, compared to PHP1.03bn in the year-ago period, on the back of higher cement sales. “Our continuing focus on operational efficiencies and cost management enabled us to drive performance despite market demand and inflationary challenges. We take pride in leading industry innovations with our new building solutions that help partners build better,” said Horis Adrian,... |
Eagle Cement Corp announces 89% advance in profit11 November 2021, Published under Cement NewsPhilippine-based Eagle Cement Corp has seen its net profit surge 89 per cent to PHP5.1bn (US$101.76m) in the first nine months of 2021, against PHP2.7bn in the comparable period of last year. Net sales advanced 63 per cent YoY to PHP16.2bn, which has been attributed to a double-digit growth in volumes despite the average selling price of cement declining. “We are pleased to report an encouraging set of results amid the pandemic, much lower cement prices and increasing input costs,” sai... |
Siam Cement's revenue surges 31% YoY28 October 2021, Published under Cement NewsThailand’s Siam Cement PCL has seen its net profit decline 30 per cent YoY in the third quarter of 2021, falling to THB6.82bn (US$205m), as it recorded lower demand and an asset impairment related to a plant in Myanmar. However, revenue from sales advanced 31 per cent YoY to THB31.83bn in the 3Q21, supported by its chemical business. |
Big Boss Cement reportedly suspends operations18 October 2021, Published under Cement NewsPhilippine-based Big Boss Cement has reportedly suspended business operations, according to a source for The Philippine Daily Inquirer. The shutdown, taken so the company can rehabilitate its production facilities, is expected to last until next year. Big Boss Cement had plans to double capacity to around 2.4Mta by 2020 and ordered a modular grinding plant last May . |