Cement News tagged under: corporate
Holcim boosted by emerging markets05 March 2012, Published under Cement NewsHolcim reported sales increases in four of its five group regions in 2011, led by emerging markets in Latin America and Asia, but the impact of the soaring Swiss franc continued to affect results. Turnover eased 4.2% to CHF20,744m, but in euro terms there was a 7% increase to €16,790m and in US$ terms there was an 11.9% advance. Operating EBITDA declined 12.3% to CHF3958m, but measured in euros the reduction was just 2% to €32,030m and in US dollars there was a 2.5% increase. Trading profi... |
HeidelbergCement issues Eurobond02 March 2012, Published under Cement NewsHeidelbergCement issued a Eurobond today under its €10bn EMTN programme with an issuance volume of €300m and a maturity date of 8 March 2016. The proceeds of the transaction will be used for general corporate purposes. “The new Eurobond is a great success,” says CEO Dr. Bernd Scheifele. “We could achieve considerably better terms that represent an adequate price for our risk profile. The successful placement is another step on our way to reduce our financing costs through debt reduction an... |
East African Portland Cement reports loss, issues profit warning02 March 2012, Published under Cement NewsEast African Portland Cement Co (EAPCC) announced a first half loss of KES88m on high production costs and increased competition. For the current year the company has issued a profit warning as producers such as Mombasa Cement and National Cement enter the market. “The board of directors expects that the company’s earnings for the year will be at least 25 per cent less than the level of earnings achieved in the previous year,” the company said in a statement. Increased competition saw EA... |
Portland Valderivvas prepares new business plan, Spain02 March 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderivvas is preparing a new business plan for the period until 2016. The plan will be presented before the financial institutions in order to agree on a credit restructuring before the end of June 2012. The measures are expected to include the disposal of US subsidiary Giant, which is seen to be successfully completed in the following months. Abstracted from an original article in Expansion |
Titan’s Greek profits fall by 60%02 March 2012, Published under Cement NewsTitan’s turnover declined by 19.2% last year to €1091.4m and the EBITDA fell by 23% to €242.7m. The net financial charge rose by 5.9% to €66.3m, and after €18.7m of impairment charges and €11.9m of foreign exchange losses, the pre-tax profit dropped by 71% to €37.7m. The pre-tax figure had, however been boosted by a €20.5m gain on the sale of emission rights in Greece and Bulgaria, compared with a €9.9m gain in the previous year. The net attributable profit dropped by 89.3% at €11.0m. For t... |
Cementos Moctezuma reports solid quarter, Mexico01 March 2012, Published under Cement NewsCorporation Montezuma reported that during the fourth quarter of 2011 EBITDA grew to 25% over the same period a year ago. A report in El Economista show that for full year 2011, the company reported a 15% growth in sales, supported by a strong advance of 13.7% in cement volume, partially offset by a fall of 2.6% in concrete volumes. EBITDA for 2011 was 10% higher than a year ago, but the EBITDA margin shrank from 36.2% to 34.5%, mainly due to the installation costs associated with the ... |
S&P Assigns Cemex 'B-' rating01 March 2012, Published under Cement NewsStandard & Poor's Ratings Services affirmed its ratings, including the 'B-' global scale and 'mxBB/mxB' national scale rating long-term corporate credit ratings, on Cemex. S&P’s ratings on Cemex and its key subsidiaries – Cemex Inc., Cemex Mexico, and Cemex Espana--are constrained by its "highly leveraged" financial risk profile, as our criteria define it, reflecting the company's high debt and "less-than-adequate" liquidity position. The ratings also reflect the relatively high concentrat... |
Dangote to begin Phase 2 of Ibese plant, Nigeria01 March 2012, Published under Cement NewsDangote Group said it is set to commence the construction of the second phase of the 6Mta cement plant which forms part of the company's plan to become a major force in cement production through a number of projects across Africa. In a statement by the company published in the Vanguard, Alhaji Aliko Dangote, President/CEO, said: “In a few weeks from here, we will start the construction of another 6Mta, which will take Ibese to 12Mta when completed. The new facility will be located 5km fro... |
Emerging markets continue to drive Holcim sales29 February 2012, Published under Cement NewsHolcim's consolidated sales for 2011 fell 4.2% on the previous year to CHF20.7bn (US$23.1bn), although the company says that on a like-for-like basis it saw a +7.5% increase in revenues. Due to cash-neutral impairments totaling CHF775m, net income was down 57.9 per cent to CHF682m. While operating EBITDA decreased 12.3 per cent, on a like-for-like basis it remained virtually stable at minus 0.2 per cent. In many markets, Holcim said increased costs due to inflation, especially for raw ma... |
GCC sees improved sales in USA and Mexico29 February 2012, Published under Cement NewsMexican cement producer Grupo Cementos de Chihuahua (GCC) reported a 4.9 per cent YoY rise in full year consolidated net sales to MXP7197.4m, as it reported improvements in construction activity in its domestic and USA markets from 2Q11. However, operating income for the year fell 18.5 per cent YoY to MXP464.3m while EBITDA was down 9.8 per cent to MXP1359.4m. Net sales in the 4Q11 reached MXP1996,7m, up 18 per cent over the same period of last year thanks to higher sales in both market... |