Cement News tagged under: Weekly Newsletter
Hail Cement's posts net profits of SAR24.5m24 August 2023, Published under Cement NewsIn the 1H23 Hail Cement recovered net profits after zakat and tax valued at SAR24.48m (US$6.53m), compared to net losses of SAR13.72m during the same period a year earlier. Revenues plummeted by 26.3 per cent YoY to SAR121.63m in the 1H23 from SAR164.93m in the 1H22. During the first three months of 2023, the company also turned profitable at SAR5.97m, versus net losses after zakat and tax worth SAR6.82m in the year-ago period. The revenues reached SAR59.78m during April-June 2023, l... |
Anhui Conch in 2Q23 totals CNY6.8bn23 August 2023, Published under Cement NewsAnhui Conch Cement ’s first-half net profit of CNY6.8bn (US$932m) is lower than expected, falling 32 per cent YoY. The decline is due to lower average selling prices and weak cement demand. Conch still outperformed the industry given that some of its peers delivered a sharper drop in earnings. Morgan Star has lower its 2023-25 earnings forecasts by 18-19 per cent. While Morgan Star still expects a recovery for the sector, it forecast that this would be gradual, given China’s slu... |
Iran's cement market expands by 32% in July23 August 2023, Published under Cement NewsIranian cement consumption increased by 32.2 per cent to 7.09Mt in July 2023 when compared with July 2022, according to the Iranian Cement Association. Domestic cement production edged up by 3.9 per cent YoY to 5.82Mt while clinker output increased by 11.5 per cent YoY to 5.84Mt in July 2023. Iran’s cement producers exported 0.427Mt of cement, up 25.6 per cent YoY, and 0.87Mt of clinker, up 7.4 per cent YoY in July 2023. As a result, total exports increased by 12.8 per cent YoY to 1.297M... |
Taiheiyo to build new terminal in Philippines22 August 2023, Published under Cement NewsJapan-based Taiheiyo Cement Corp (TCC) will build a new cement terminal in Calaca, Batangas, Philippines, to enable the company to serve the Luzon market from its pant in San Fernando, Cebu. Taiheiyo Cement Philippines Inc (TCPI) will build and operate the planned hub to distribute its Grand-branded cement products, according to TCC President and Representative Director, Masafumi Fushihara. The 0.7Mta project is the next step in serving a market that TCPI has estimated to have increase... |
Unacem sees 9% advance in 2Q revenues21 August 2023, Published under Cement NewsPeruvian Unacem Group saw a nine per cent increase in its 2Q revenues to PEN1559m (US$419.8m) in the 2Q23. The advance was attributed mainly to the incorporation of thermo-electric company Termochilca last May. In the core cement and ready-mix concrete businesses, sales volumes in Peru and Chile fell with sales in Peru, down 13.2 per cent YoY. "The incorporation of Termochilca and higher sales prices in all units helped to offset the sharp drop in cement dispatches in Peru, which was af... |
CRH attracts new investors prior to US move17 August 2023, Published under Cement NewsCRH is attracting new investment prior to its move to the New York Stock Exchange in September this year. According to the Irish Independent, at least 26 hedge funds have announced new or expanded American depository receipts (ADRs) in CRH. In total, hedge funds bought a net 7.53m ADRs in CRH in the three months up to 30 June 2023, reports Bloomberg. Among the investors are Soros Fund Management, owned by billionaire George Soros, which now holds ADRs worth around US$20m, and Seth Klarma... |
Edmonton plant start CCUS system16 August 2023, Published under Cement NewsHeidelberg Materials' Edmonton cement plant is one key step closer to pouring the foundations of a full-scale carbon capture utilisation and storage (CCUS) system that could help make its operations carbon neutral. Five years in the making, a pilot system will pull 300kg per day of carbon from the plant’s production facility. The new CCUS equipment started up on Tuesday and uses technology from Mitsubishi Heavy Industries. Project Director, Corwyn Bruce, told reporters that the compa... |
FLSmidth reports 28% revenue increase in 1H2316 August 2023, Published under Cement NewsFLSmidth has reported revenue of DKK12,415m (US$1822m) in the first half of 2023, compared to DKK9733m in the same period a year earlier. EBITDA fell from DKK770m in the 1H22 to DKK737m in the 1H23, while profit over the same timeframe declined from DKK257m to DKK202m. Cement revenue advanced nine per cent YoY to DKK3252m in the 1H23, while the mining business saw its revenue expand by 26 per cent YoY to DKK8536m. The first half of 2023 saw the company report a total order intake of 11,155... |
Monarch Cement posts increased net sales in 1H2315 August 2023, Published under Cement NewsUS-based The Monarch Cement Co has reported condensed consolidated net sales of US$121.94m in the first half of 2023, up from US$95.85m in the same period a year earlier. Gross profit over the same timeframe improved from US$28.21m to US$39.54m, while income from operations advanced from US$17.37m to US$28.31m. Monarch Cement is a US-based producer of Portland cement, primarily serving Kansas, Iowa, southern Nebraska, western Missouri, northwest Arkansas and northern Oklahoma. In the th... |
CEMEX updates sustainability-linked Financing Framework15 August 2023, Published under Cement NewsCEMEX has updated its sustainability-linked Financing Framework to align with its more ambitious 2030 decarbonisation targets, announced on November 2022 and validated by the Science-Based Targets initiative (SBTi) for alignment under its 1.5°C scenario. CEMEX’s framework, first issued in 2021, aligns the company's financing strategy with its corporate sustainability commitments. The framework establishes CEMEX’s guiding principles when issuing new sustainability-linked financing instr... |