Cement News tagged under: Weekly Newsletter
Dangote Group posts 17% revenue rise in FY2228 February 2023, Published under Cement NewsDangote Cement Group announced revenues us 17 per cent to NGN1618.3bn (US$3.51m) in FY22 and EBITDA up 3.5 per cent at NGN708.2bn. Profit after tax increased by 4.9 per cent to NGN382.3bn. Net debt at the end of the period totalled NGN422.8bn with a net gearing of 39.2 per cent. Nigerian operations sold 17.8Mt of cement and clinker during the period, down 4.1 per cent from the 18.6Mt sold in 2021. When looking at the domestic sales alone, Nigerian operations sold 17Mt, down 3.8 per cent Y... |
SBTi validates Heidelberg Materials' 2030 CO2 reduction targets28 February 2023, Published under Cement NewsThe Science Based Targets initiative (SBTi) has validated Heidelberg Materials’ 2030 carbon reduction targets under its new 1.5°C framework. Heidelberg Materials commits to reduce gross scope 1 and 2 GHG emissions by 26.7 per cent per tonne of cementitious material by 2030 from the base year 2020. Within this target, Heidelberg Materials commits to reduce gross scope 1 GHG emissions by 24 per cent per tonne of cementitious material and scope 2 GHG emissions by 65 per cent per tonne o... |
Cementos Molins posts revenues of EUR1268m in 202228 February 2023, Published under Cement NewsCementos Molins closed 2022 with revenues amounting to EUR1268m, up 31 per cent compared to previous year, driven by sales increase across all businesses and the significant contribution of acquisitions completed last year. On a LfL basis, revenues increased by 18 per cent. EBITDA reached EUR276m, 14 per cent higher than previous year, due to the performance of South American and Asian businesses and the contribution by the acquisitions. High negative impact of inflation on costs has be... |
Corporacion Moctezuma 2022 net profit slips 3%27 February 2023, Published under Cement NewsCorporación Moctezuma posted a 14.5 per cent YoY growth in revenues to MXN4368.7m (US$237.3m) in the fourth quarter of 2022. The company reported EBITDA of MXN1677.8m in the 4Q22, representing a YoY increase of 17.5 per cent from MXN1427.6m. Net profit in the 4Q22 advanced 11.3 per cent YoY to MCN1099.1m from MXN987.1m in the equivalent period of the previous year. The volatility of the Mexican peso-US dollar exchange rate impacted the results with the peso appreciating against the doll... |
FLSmidth report 3% EBITA margin growth for cement in 202227 February 2023, Published under Cement NewsFLSmidth announced a positive 3.3 per cent EBITA margin improvement for its cement division in 2022, compared to -0.3 per cent in 2021. Cement EBITA amounted to DKK204m (US$29m) in 2022 compared to DKK-19m in 2021. Cement revenue increased by two per cent YoY organically and by seven per cent including favourable currency effects, reported FLSmidth. Cement EBITA continued the positive trend seen during 2022, driven by the increased revenue and higher gross margin. The company ann... |
Heidelberg Materials' revenue hits all-time high23 February 2023, Published under Cement NewsHeidelberg Materials has reported a 13 per cent YoY increase in group revenue to an all-time high of EUR21.1bn in 2022. Adjusted profit for the financial year also rose significantly, with adjusted earnings per share up 20 per cent YoY at EUR9.47. Good progress was seen in the company’s decarbonisation programme with specific net CO 2 emissions falling by a further two per cent. According to the company, higher energy and raw material prices had a significant impact on construction act... |
Spain's cement demand increases 5% in January23 February 2023, Published under Cement NewsCement consumption in Spain in January expanded by 5.4 per cent to 1,066,959t, according to Oficemen, the Spanish cement association. “We expected lower values at this beginning of the year, but it has been a particularly dry month in which the weather may have allowed us to recover part of the consumption lost in December due to heavy rains. The calendar effect has also had an influence, due to the absence of holidays. In fact, the average daily consumption has had a practically flat growt... |
CEMEX records 41% fall in European CO2 emissions23 February 2023, Published under Cement NewsCEMEX achieved a milestone 41 per cent reduction in the CO 2 emissions generated by its European cement business in 2022. A fifth of the total reduction attained since 1990 happened in the last two years, with a drop of over 12 per cent from 2020 performance. Sergio Menendez, regional president for CEMEX Europe Middle East Asia, commented: “We are very proud to have reached a 41 per cent reduction in CO 2 emissions generated by our European cement business, and this is all thanks to the... |
Taiwan Cement fined for price fixing22 February 2023, Published under Cement NewsTaiwan Cement Corp (TCC) is one of 18 firms fined a combined TWD213m (US$7m) for forming a ready-mixed concrete (RMC) price-fixing cartel, accord to Taipei Times. Since 2018 the companies have regularly met in person and messaged via apps to control the supply of RMC and drive up prices, reports the Fair Trade Commission. TCC faces an individual fine of TWD50m but has said that it will appeal against the ruling. “TCC’s ready-mix concrete quality and price have been considered to be the ... |
Vietnam cement market expands 8% in 202220 February 2023, Published under Cement NewsCement sales in Vietnam declined nine per cent YoY and seven per cent MoM to 5.694Mt in December 2022, according to the country’s cement association, VNCA. Of this total VICEM companies sold 1.792Mt, representing a 13 per cent YoY drop, while other VNCA member companies saw their sales shrink by 12 per cent to 1.192Mt. Sales by non-member cement producers were stable at 2.71Mt in December 2022. In addition, Vietnamese cement producers exported 3.074Mt of cement and clinker, a nine per ce... |