Cement News tagged under: corporate
Holcim Indonesia reports 22% fall in net profit04 August 2009, Published under Cement NewsPT Holcim Indonesia said net profits fell 21.78 per cent to IDR280bn (US$28m) in the first half of 2009 despite an increase in sales. Rusli Setiawan, Holcim relationship management director, said high cost of fund and falling value of rupiah against the US dollar contributed to the decline in net profit. The company paid US$195m in loan interest in the first six month of the year, Rusli said. He said, the Indonesian units of Holcim Ltd recorded a 15 per cent increase in sales to IDR2.35tr... |
TCL profits down04 August 2009, Published under Cement NewsWeak demand for cement products and the economic downturn around the Caribbean have chipped away at the profits of Claxton Bay producer Trinidad Cement Ltd. For the half year ended June 30, 2009 group revenue declined by J$153m or 14 per cent compared to the first half of 2008, "due to the economic downturn affecting all our markets", group chairman Andy Bhajan and group chief executive Dr Rollin Bertrand said in TCL’s published interim financial report yesterday. "All business segments ex... |
Cemex may need to sell more assets04 August 2009, Published under Cement NewsCemex’s attempts at restructuring some US$15.5bn in debt may not be enough to stabilise its financial structure and boost investor confidence, reports Business News Americas. "The firm will likely have to divest assets or issue bonds to strengthen its financial structure, even if it successfully manages to complete its current debt-restructuration plan," construction industry specialist with local financial group BBVA-Bancomer, Francisco Chávez, told BNamericas. On July 30, local press rep... |
Dyckerhoff’s sharp volume drops in Ukraine, Russia & USA04 August 2009, Published under Cement NewsBuzzi Unicem’s quoted subsidiary Dyckerhoff has reported a 32.4% drop in first half turnover to EUR652m, and the EBITDA, before EUR33m of provision releases in Germany, fell by 28.9% to EUR103m. The results were to some extent affected by a harsh winter. Capital expenditure in the period six months declined by 12.0% to EUR125m, with the United States and Russia being the two major areas of expenditure during the period. Cement shipments declined by 27.2% to 6.19m tonnes, with lower volume... |
Italcementi’s strongest volume falls in Spain, Italy and USA04 August 2009, Published under Cement NewsItalcementi’s first half turnover showed an 11.6% reduction to EUR2,585.7m and the running EBITDA was down by 16.2% to EUR497.4m. The trading profit fell by 37.1% to EUR238.0m and the net attributable profit showed a 58.0% reduction to EUR55.1m. Net debt at the end of June was 3.9% higher than a year earlier at EUR2784.8m, which represents a gearing level of 60.8%. Cement and clinker shipments in the period fell by 12.8% to 27.8Mt. Cement and clinker volumes in western Europe were off by... |
Cemex Says Bankers Agree to Waiver in Debt Proposal03 August 2009, Published under Cement NewsCemex said banks agreed to extend a covenant waiver to allow the company to complete a refinancing of almost $15 billion of debt. The extension of the waiver, which expired today, still needs to be formalized, Jorge Perez, a Cemex spokesman, said in an e-mailed response to questions. Cemex said on July 29 that it had more than 90 percent support for the refinancing proposal, which would extend maturities on almost $15 billion of debt to February 2014, with some payments due periodically be... |
Colombia’s Cementos Argos 1H profit up31 July 2009, Published under Cement NewsCementos Argos SA, Colombia’s biggest cement maker, reported profit rose 128 per cent in the first six months of the year. Net income rose to COP297bn (US$143.1m) in the first half from COP130bn a year earlier, according to a statement posted late yesterday on the financial regulator’s Web site. Profit fell to COP38bn in the second quarter of 2009 from COP49bn in the year-earlier period, according to Bloomberg calculations. |
Thailand’s TPI Polene (TPIPL): 2Q09 earnings31 July 2009, Published under Cement NewsTPIPL reported a 2Q09 net profit of Bt840mn, turning from a net loss of Bt6.8bn in 2Q08 and up 109% QoQ. The results were 38.0% above market expectations due to greater-than-expected extra gains. Stripping out the extra gains from the debt repurchase at a discount of Bt156mn and FX gains of Bt225m, its normalised profit was Bt458m, down 24.6% YoY, but up 5.0% QoQ. The YoY dip was caused by a contraction in cement sales volume. Meanwhile, the slight rise QoQ was due to the reversal of finan... |
Global recession continues to undermine Cemex31 July 2009, Published under Cement NewsCemex’ results continue to slide as global recession undermines second quarter results. Cemex reported net sales of US$4.2bn in the second quarter, representing a 34% drop YoY, and is mainly attributed to lower volumes in its major markets in the US (down 37%) and Spain (down 43%). The company was also affected by the exclusion of its Venezuelan operations and the sale of its assets in the Canary Islands which were partially mitigated by price stability in most of its markets. Group EB... |
Siam Cement second quarter drop, Thailand30 July 2009, Published under Cement NewsSiam Cement PCL reported a 5% drop in second-quarter profit on weaker sales, and warned that its petrochemical and paper businesses would continue to be hit hard by the global economic slowdown. Thailand’s largest industrial conglomerate said it recorded a profit of THB6.84bn (US$201.3m) in the three months ended June 30, from THB7.2bn a year earlier. Sales fell 29% to THB56.88bn from THB80.25bn a year ago, with the company citing the global trend of lower chemicals and paper product prices... |