Cement News tagged under: corporate
Swiss franc, energy costs hit Holcim 3Q profit09 November 2011, Published under Cement NewsHolcim posted a 34.5 per cent in third quarter net profit as price hikes failed to offset rising energy costs and the strong Swiss franc. Consolidated net sales decreased by 6.7 per cent to CHF 15.5bn, mainly because of exchange rate factors. On a like-for-like basis, it rose by 5.8 per cent. Operating EBITDA fell by 16.9 per cent to CHF3bn, but on a like-for-like basis the decline came to a smaller 4.4 per cent, and organic growth reached 1.1 per cent in the third quarter. In particular, ... |
Cimpor nine-month profit rises09 November 2011, Published under Cement NewsCimpor’s turnover rose by 3.6% to €1,741.8m in the first nine months, boosted by operations in Mozambique, Turkey and Brazil. EBITDA edged up by just 0.9% to €479.21m. Somewhat lower depreciation and amortisation charges allowed the trading profit (EBIT) to advance by 2.2% to €305.4m. After a higher minorities charge, the net attributable profit was 6.1% higher at €180.1m. Net debt at the end of September was 1.9% lower than a year earlier at €1,627m, giving a gearing level of 81.2%, compare... |
China cement stocks – UBS comment08 November 2011, Published under Cement NewsThe recent rebound in China cement stocks is "largely policy driven," says UBS. Looking forward, the policy could remain positive for the sector but some property restocking concerns still remain. "We believe 4Q11 could see cement stocks rising further with the policy support, but a correction could also follow when property-related data deteriorate." The house keeps its positive sector view from a 12-month perspective but also highlights the risk of stock corrections due to property inv... |
Xinjiang Tianshan Cement to issue CNY400m bills08 November 2011, Published under Cement NewsXinjiang Tianshan Cement Co Ltd, based in the Xinjiang Uygur Autonomous Region, has said it plans to issue CNY400m worth of 366-day unsecured bills on the interbank market on Nov. 14, sources reported. Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer. Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA and A-1, respectively. Shanghai Pudong Development Bank Co Ltd has been assigned as the lead... |
Baturina sells Verkhnebakansky cement plant, Russia08 November 2011, Published under Cement NewsRussian billionaire businesswoman Yelena Baturina has sold the Verkhnebakansky cement plant to businessman Lev Kvetnoi, owner of cement producer Novoroscement, for around RUB17bn, business daily Vedomosti reported on Tuesday citing a source close to one side of the deal. The cement plant is expected initially to be operated by the previous management, which took obligations to finish the construction of an additional production line at the plant. The modernisation of the facility is slated ... |
S&P reduces outlook on HeidelbergCement to "stable"08 November 2011, Published under Cement NewsStandard & Poor’s (S&P) announced today it had decreased the outlook for German cement producer HeidelbergCement to "stable" from "positive". S&P kept the BB long-term and B short-term credit rating on the company. HeidelbergCement will use its cash flow from the next 12 months to repay existing debts. The debt relief, however, runs slower than expected, the rating agency reported. |
Increasing demand leads to higher dividend payouts, East Africa07 November 2011, Published under Cement NewsNairobi Securities Exchange listed cement makers Bamburi Cement and Athi River Mining are expected to realise higher cash return from their operations in the next three years, as demand for cement in the region rises. This, analysts said should help the two firms aggressively fund their expansion and pay shareholders higher dividends by 2013. East African states are pumping billions of dollars into upgrading their infrastructure, raising the demand for building materials. Rising cement de... |
Athi River nine-months hit by forex losses, Kenya07 November 2011, Published under Cement NewsKenyan cement maker Athi River Mining suffered a 61 per cent drop in pretax profit to KES296.90m (US$3m) in the nine months ended September, dragged down by unrealised foreign exchange losses, it said on Monday. The shilling has lost about 20 per cent against the dollar this year on the back of high inflation and a jump in the import bill, hurting companies’ earnings across sectors. Athi River, ranked as the third largest cement firm in the east African nation, had to make provisions of KE... |
Dyckerhoff performs strongly in Eastern Europe07 November 2011, Published under Cement NewsThe Buzzi Unicem subsidiary Dyckerhoff’s turnover for the first nine months increased by 14.2% to €1217m, with turnover in western Europe being ahead by 15.3% to €633m, while the eastern European operations produced a strong sales growth of 21.6% to €456m. The US business, on the other hand, recorded a 9.8% reduction to €129m. The EBITDA grew by 29.1% to €231, while the trading profit (EBIT) advanced by 42.7% to €127m. The pre-tax profit moved ahead by 56.1% to €89m, but a higher tax charge ... |
Siam City Cement says floods to affect fourth quarter earnings07 November 2011, Published under Cement NewsSiam City Cement Plc (SCCC) says its fourth-quarter financial performance could be poor as severe floods have lowered cement demand while also disrupting land transport and port operations, the Bangkok Post reports. The country’s second-largest cement manufacturer yesterday reported 49% annualised growth in net profit to THB868m in the third quarter. Consolidated revenue rose 21% YoY to THB6.11bn. The operating profit margin improved to 18.3% from 16% a year earlier, the company said. Sales... |