Cement News tagged under: corporate
HeidelbergCement increases revenue and operating income08 November 2012, Published under Cement NewsGerman cement major HeidelbergCement has reported increases revenue and operating income in for the third quarter 2012 driven by cost savings and price increases and announced significant reduction in net debt. Group revenue in the 3Q12 rose by 8.9 per cent to €3944m, driven by increasing prices, and a favourable development of exchange rates. Positive exchange rate effects supported the development of revenue particularly in North America, Asia-Pacific, as well as Western and Northern Eu... |
Italcementi 9M12 sales hit by Western Europe, competition in Africa08 November 2012, Published under Cement NewsLeading Italian cement producer Italcementi posted a significant drop in nine month net profit as sales were hit by its Western European markets and higher competition in Africa. Nine month net profit totalled EUR17.1m compared to EUR105m for the nine months to September 2011. After minorities, the company posted a loss of EUR39.7m. Revenues fell 4.4 per cent to EUR3.396bn. Recurring EBITDA in the first nine months was EUR500.5m (-11.4% from the year earlier period, but down 8.3% if the... |
Cementir's ready-mixed concrete volumes weaken08 November 2012, Published under Cement NewsCementir's turnover for the first nine months of the year was up by 4.9 per cent to €730.9m. EBITDA, which weakened by 11.9 per cent in the third quarter, was ahead by a modest 3.5 per cent to €94.9m. This reflected higher energy costs, particularly in the case of electricity, and increased staffing levels was a result of the expansion into waste management. The trading profit advanced by 4.7 per cent to €30.6m. The net financial charge declined by 37.4 per cent to €13.9m to give a more ... |
Dangote Cement sees 22% rise in 2012 pretax profit, Nigeria08 November 2012, Published under Cement NewsNigeria-based cement producer Dangote Cement said it expects pretax profit to reach NGN143bn (US$910m) for full year 2012 on strong demand, a rise of 22 per cent compared to the NGN118bn achieved last year. The company said forecasts were based on the 2.6Mt of cement it sold in the last quarter of the year and on improved gas supply. The company will spend around NGN110bn in capital expenditure this year. "Nigeria has a low per capita consumption ... so we believe there is a huge pent u... |
RHI increases earnings again in the third quarter of 201208 November 2012, Published under Cement NewsRevenues of refractories specialist RHI Group increased by 7% in the third quarter of 2012 in comparison to the same quarter of 2011 and amounted to €459.9m. While revenues in the Steel Division dropped by 3.7% in a market environment still characterized by uncertainty, the Industrial Division recorded growth of 25.8% as some major projects were delivered. The operating result of the third quarter was up 28.3% on the comparable period of 2011 and amounted to €50.3m, thus again exceeding th... |
Emerging markets, North America drive Holcim performance07 November 2012, Published under Cement NewsHolcim reported a rise in cement deliveries for the first nine months of 2012 supported by pricing improvements. Emerging markets continue to support growth together with stronger demand for building materials in North America, but the Europe and Middle East and Africa divisions register declines. Commenting on its results, the company said in a statement: “Holcim continues to have the advantage of a strong presence in emerging markets, where construction activity remains high. This uniqu... |
Cemex prices Latam IPO, Colombia07 November 2012, Published under Cement NewsCemex announced it has priced shares of its Latin American unit Cemex Latam Holdings SA at COP12,250 (US$6.75) each in an offering from which it expects to receive about US$1.1bn. Cemex said it priced 170.4 million shares in the unit, which is listed on the Colombian stock exchange. Of the total shares, 148.2 million shares were sold in a public offering to investors in Colombia and in a private placement to eligible investors outside Colombia. Another 22.2 million shares are subject to... |
Steppe Cement to raise GBP10m Via Underwritten Offer07 November 2012, Published under Cement NewsSteppe Cement said Wednesday it intends to raise GBP10m (EUR12.5m) via an offer for subscription of 40 million new ordinary shares at 25 pence per share. Net proceeds of the offer are expected to be up to GBP9.67m after expenses and will be used toward the completion of the reconstruction of Dry Line 5, for general working capital requirements and, if required, to repay a portion of the company's short-term bank borrowings. The offer price represents a discount of 6.1% to the closing mid... |
Novoroscement signs financing agreement with VTB Bank07 November 2012, Published under Cement NewsVTB Bank has signed an agreement with Novoroscement, the largest cement producer in southern Russia, to provide a RUB920m (US$29m) credit line to finance the company’s current operations. “The borrowed finds will be used to finance the current activities of the enterprise,” VTB said. The bank declined to disclose the maturity and terms of the credit line. Novoroscement has three cement plants in the Krasnodar Region with a combined capacity of over 4Mta of cement. VTB and Novoros... |
Vicem But Son Cement posts nine month loss07 November 2012, Published under Cement NewsVietnam cement producer Vicem But Son Cement JSC said it made a loss of VND65.78bn (US$3.16m) in the first nine months of this year, compared to a net profit of VND6.99bn in the same period last year. Revenues rose 1.59 per cent YoY to VND1.92trn in Jan-Sept, BTS said in its quarterly financial report. In the third quarter alone, the company suffered a loss of VND68.91bn on revenues of VND581.53bn, versus a net profit of VND3.89bn on revenues of VND685.1bn in the 3Q11. The company had tot... |