Cement News tagged under: Weekly Newsletter
Heidelberg Cement Bangladesh announces acquisition of ECBL & EPCL13 November 2019, Published under Cement NewsHeidelberg Cement Bangladesh Ltd has informed the Dhaka Stock Exchange that the company's Board of Directors has approved the acquisition of 100 per cent of the shareholding of Emirates Cement Bangladesh Ltd (a private company limited by shares incorporated in Bangladesh and engaged in cement production) and Emirates Power Co Ltd (a private company limited by shares incorporated in Bangladesh and engaged in generating and supplying electricity) from UltraTech Cement Middle East Investments L... |
Brazilian sales up 9% in October12 November 2019, Published under Cement NewsCement sales in Brazil totalled 5.2Mt in October 2019, representing a 9.2 per cent increase when compared with October 2018, according to the country’s cement association, SNIC. The rise follows four consecutive years of decline. Domestic sales per working day edged up 0.6 per cent MoM and 6.9 per cent YoY. Apparent consumption, which includes imports, reached 5.2Mt, up 8.8 per cent YoY. “Sales performance in 2019 is the beginning of recovery from the huge fall the industry has suffered in... |
Kuwait Portland Cement 3Q profit down 75%12 November 2019, Published under Cement NewsKuwait Portland Cement Co reported a 75 per cent decline in net profit in the third quarter of 2019. The company achieved profits of KWD605,600 (US$2m) in the 3Q19, compared with KWD2.42m (US$7.98m) in the 3Q18, Mubasher reports. In the first nine months of 2019 there was a 21 per cent drop in profit to KWD6.18m, from KWD7.82m in the previous-year period. |
Eagle Cement Corp records 35% increase in net profit11 November 2019, Published under Cement NewsPhilippines-based Eagle Cement Corp has recorded a 35 per cent YoY increase in net profit to PHP4.7bn (US$92.3m) for the first nine months of 2019, on the back of higher sales volumes and prices. Net sales in the 9M19 advanced 25 per cent YoY to PHP15.3bn, supported by a 19 per cent increase in sales volumes. “Eagle is poised to deliver double-digit growth towards the remainder of the year, as local demand for cement is expected to remain high in line with the anticipated pickup in const... |
HeidelbergCement records 7% rise in group revenue for the 9M1908 November 2019, Published under Cement NewsHeidelbergCement has reported a seven per cent increase in group revenue to EUR14.3bn for the first nine months of 2019, compared with EUR13.4bn in the year-ago period. Excluding consolidation and exchange rate effects, revenue advanced by four per cent YoY. Results from current operations before depreciation and amortisation rose by 17 per cent YoY to EUR2.6bn from EUR2.3bn in the 9M18. The company attributed the results to growth in sales volumes and successful price increases, which mor... |
Buzzi Unicem sees improved cement volume and stable in concrete08 November 2019, Published under Cement NewsBuzzi Unicem's turnover for the first nine months of 2019 was up by 13.4 per cent to EUR2423.6m, but ignoring exchange rate movements the increase would have been 9.9 per cent. Net debt at the end of September was EUR13.3m lower than a year earlier at EUR710.1m. Capital investment in the period was 19.2 per cent higher at EUR260.8m. Cement deliveries were 5.7 per cent higher at 22.13Mt, while ready-mixed concrete deliveries advanced by just 0.4 per cent to 9.1Mm³. The Italian turnover wa... |
Titan Cement Group's turnover rises by 9% in 3Q1907 November 2019, Published under Cement NewsTitan Cement Group's 3Q19 results saw consolidated turnover rise by 8.7 per cent compared to 3Q18, EBITDA rose by 15.4 per cent and net profit increased by 25.7 per cent. In the 9M19 consolidated turnover rose by 9.7 per cent to EUR1208.5m and EBITDA grew by 5.8 per cent to EUR208.4m. However, net profit declined by 9.9 per cent in 9M19 to EUR45.3m, because of depreciation charges, partly due to IFRS adoption and the consolidation of Turkey in full in 2019. Regional results In ... |
Birla Corp sees 450% rise in net profit06 November 2019, Published under Cement NewsIndia's Birla Corp has seen a 450 per cent increase in net profit to INR880m (US$12.4m) in the 2QFY19-20, compared with INR160m in the corresponding period of the previous fiscal. Revenue advanced 10.9 per cent YoY to INR16.47bn, while EBITDA surged 61 per cent to INR3.32bn. The EBITDA margin climbed to 20.1 per cent from 13.9 per cent. The company has attributed the positive results to higher realisation from premium and blended cement sales, and cost rationalisation. Capacity utilisatio... |
UltraTech Cement looks to divest Bangladesh asset06 November 2019, Published under Cement NewsIndia's UltraTech Cement has stated that its plan to divest non-core assets in China, the UAE and Europe, is progressing well. It has also announced that it is looking to exit the Bangladesh market. "We are also exploring opportunities to exit Bangladesh, where we have a small grinding unit of 0.6Mt. All the proceeds from these asset disposals will help bring down our leverage position further," said Atul Daga, CFO, following the company's 2Q earning announcement. The Bangladeshi unit i... |
China sees 7% increase in cement output during the 9M1905 November 2019, Published under Cement NewsChina's cement output stood at 1.69bnt in the first nine months of 2019, up 6.9 per cent YoY, according to the Ministry of Industry and Information Technology (MIIT). During the period, the sector’s total operating revenue increased 14.3 per cent YoY to CNY719.9bn (US$102.4bn). Combined profits surged 25.3 per cent YoY to reach CNY131.8bn in the 9M19. However, cement prices saw continuous drops during the Jan-Aug period, with the August cement price index falling 6.3 per cent from January. |