Cement News tagged under: Weekly Newsletter
Ambuja Cements reports 11% QoQ revenue rise08 February 2023, Published under Cement NewsAmbuja Cements Ltd , part of the Adani Group , has reported an 11 per cent QoQ increase in revenue in the quarter ended 31 December 2022. Net revenue for the three-month period came in at INR80,360m (US$ 972.95m), compared to INR72,450m in the previous quarter, and INR77,100m in the same period a year earlier. EBITDA in the December 2022 quarter stood at INR11,380m, up from INR4360m in the previous quarter but down from INR12,130m in the same period in 2021. The EBITDA margin in the De... |
PPC in talks to sell Zimbabwe business07 February 2023, Published under Cement NewsPPC Ltd is reportedly in talks to sell its Zimbabwe business. According to Bloomberg, discussions are at an early stage and no potential buyers have been named as yet. PPC is believed to be selling the Zimbabwe company for around US$200m. PPC Zimbabwe currently runs a 0.76Mta grinding plant in Bulawayo , a 0.825Mta clinker plant in Colleen Bawn , and a 0.7Mta grinding works in Harare . |
Dangote announces new 6Mta Nigerian plant02 February 2023, Published under Cement NewsDangote Industries Ltd is building a new integrated 6Mta cement plant in Itori, Ogun state, Nigeria. According to press reports, the plant will be supplied by Sinoma International Engineering and will take Dangote’s Nigerian cement production capacity to 41.25Mta and total African capacity to 57.6Mta. Due to be completed in the first half of 2025, the new facility will have its own captive power plant, and two 6000tpd clinker production lines giving a total daily clinker production cap... |
ACC Ltd posts 14% rise in revenue02 February 2023, Published under Cement NewsACC Ltd has reported a 14 per cent increase in revenue to INR45,370m (US$554.7m) in the quarter ended 31 December 2022, up from INR42,260m in the same period a year earlier. EBITDA over the same timeframe fell from INR6100m to INR4190m, while the EBITDA margin declined from 14.7 to 9.4 per cent. Sales volumes over the three-month period stood at 7.7Mt of cement and clinker, on a par with the same quarter in 2021, while sales volumes of ready-mixed concrete advanced marginally from 0.73M... |
GCC reports 7% EBITDA increase in 202201 February 2023, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) reported net sales of US$289.7m in the October-December 2022 period, representing an increase of 12.3 per cent when compared with the 4Q21, according to the company’s filing to the Mexican stock exchange, BMV. It also posted EBITDA of US$91.3m in 4Q22, up 12.7 per cent YoY. Net profit increased by 70.4 per cent to US$51.3m in the 4Q22 when compared with the 4Q21. The cement producer attributed the increase to a rise in cement and concrete prices of 16.2... |
Lucky Cement increases profit by 23% in 1HFY21-2231 January 2023, Published under Cement NewsPakistan cement producer Lucky Cement Ltd has announced its financial results for the half-year ending 31 December 2022. It reported a profit after tax of PKR7.128bn (US$27.4m) compared to PKR5.744 earned in the corresponding period last year, a growth of 23 per cent YoY. According to a notification of the company to the Pakistan Stock Exchange (PSX), Lucky Cement’s sales increased by 21 per cent to PKR45.333bn from PKR37.549bn during the same period last year. It incurred adistributio... |
US Portland and blended cement shipments up 4% in 11M2230 January 2023, Published under Cement NewsTotal shipments of Portland and blended cement, including imports, in the USA and Puerto Rico slipped to 9.3Mt in November 2022 when compared with November 2021, according to the US Geological Survey (USGS). The leading cement-consuming states were Texas, California, Florida, Ohio and Georgia, which accounted together for 35.9 per cent of total shipments in the month. The leading producing states for Portland and blended cement were Missouri, Texas, California, Michigan and Florida, which ... |
Eagle Materials achieves record revenue27 January 2023, Published under Cement NewsEagle Materials has reported record revenue of US$511m in the third quarter of fiscal 2023 ended 31 December 2022, marking a YoY increase of 10 per cent. Record net earnings were also seen over the quarter, coming in at US$117m, up 14 per cent YoY, while net earnings per share (EPS) advanced by 26 per cent to US$3.20. Adjusted EBITDA saw growth of 14 per cent YoY to US$199m. Commenting on the results, Michael Haack, president and CEO of Eagle Materials, said, “We are pleased to announc... |
New target markets for East African Portland Cement Co26 January 2023, Published under Cement NewsFollowing its KES500m (US$4m) plant upgrade, The East African Portland Cement (EAPC) is planning to expand within the East African Community member countries and is targeting cement sales in Rwanda and DR Congo. The Athi River-based cement processor has replaced part of its kiln shell at its Athi River plant and is now producing its own clinker. In 2021 EAPC it announced a five year business modernisation and expansion plan to return to profitability. The firm’s CEO, Oliver Kir... |
Titan announces increase in EBITDA after strong 4Q2225 January 2023, Published under Cement NewsTitan Cement has issued a trading update ahead of the group’s full-year results on 22 March 2023, as the preliminary results for EBITDA in the fourth quarter of 2022 are significantly higher compared to market consensus. According to the company, the 4Q22 was very strong for the Titan Cement Group. Sales activity and revenues remained robust while energy costs, as a result of cost-saving actions and market conditions, declined. As a result, preliminary EBITDA for the quarter is EUR98m,... |