Cement News tagged under: corporate
Buzzi Unicem increases first half pre-tax by 48 per cent14 September 2005, Published under Cement NewsBuzzi Unicem’s first half turnover rose by 5.2 per cent to EUR1,382.2m and the EBITDA advanced by 8.2 per cent to EUR328.1m. Helped by a 25.5 per cent drop in net finance costs to EUR69m and an increased contribution from associates, the pre-tax profit staged a 48.3 per cent advance to €162.3m. Net debt at the end of June stood at EUR1223.5m to give a gearing ratio of 65.3 per cent. Overall cement deliveries rose by 3.2 per cent to EUR15.6Mt in the period, while the ready-mixed concrete prod... |
Cemex offering to generate US$260m14 September 2005, Published under Cement NewsCemex has already significantly increased the efficiency of the UK’s RMC after buying it last year, is offering 31m shares after its stock price rose by two-thirds since the acquisition was announced. The non-dilutive offering, which represents about Dollars 1.6bn or 9 per cent of outstanding shares, would generate about Dollars 260m of profits for Cemex at its current share price. Although analysts expect Cemex’s share price to fall further in the short term, Carlos Peyrelongue,... |
Cementir’s balance sheet remains strong14 September 2005, Published under Cement NewsIn spite of having acquired Aalborg Portland Cement and Unicon last October, Cementir retains one of the strongest balance sheets in the sector and could easily afford further acquisitions. Net debt at the end of June stood at EUR329.5m, or a modest 48.3 per cent of shareholders’ funds, compared with net cash of EUR108.6m a year earlier. The first half turnover jumped by 166.7% to EUR402.9m, reflecting the two acquisitions from FLS Industries88. The EBITDA registered an increase of 113.84... |
Serbian Novi Popovac Renamed Holcim Srbija14 September 2005, Published under Cement NewsSerbian cement producer Novi Popovac changed its name to Holcim Srbija following a change in its ownership structure. Holcim acquired former Novi Popovac in April 2002 and under the terms of the purchase agreement the new owner pledged to invest a total US$85m (EUR68.9m). So far, US$53m of the agreed investments have been made and by the end of 2005 the invested funds will reach some US$70m, Holcim Srbija director general Darko Krizan said. The 2004 output of Holcim Srbija sto... |
Cemex guidance13 September 2005, Published under Cement NewsCemex said on Monday it saw third-quarter EBITDA close to US$1bn, up 50 per cent from a year earlier on higher sales. Cemex said revenues would reach US$4.4bn in the July-September period, up 115 per cent and largely boosted by income from the US$5.8bn acquisition of Britain’s RMC Group, the world’s largest ready-mix concrete maker. Cemex did not mention any impact of the expected massive reconstruction program in the United States from the devastation caused by Hurricane Katri... |
Cementir net profit at EUR27.9m H10513 September 2005, Published under Cement NewsItalian cement company Cementir SpA, a unit of local construction company Caltagirone, posted a net profit of EUR27.9m (US$34.4m) for the first half of 2005, up by 85% YoY. The company posted a net consolidated turnover of EUR402.9m (US$497.06m), up by 166.7% YoY. EBITDA stood at EUR82.8m (US$102.2m), up 114% YoY. Operating profit grew 100 per cent YoY to EUR49m (US$60.5m). Cementir’s net financial debt totalled EUR329.5m (US$406.5m) at June 30, 2005, compared to EUR330.9m euro (... |
Tunisia sells stake in cement co Sotacib to Spanish group13 September 2005, Published under Cement NewsTunisia has sold its entire, 50 per cent stake in the Tunisian-Algerian cement company Sotacib to an unnamed Spanish sector group. The sale comes after the second round of bidding for the company after a tender in April 2004 when only one company presented its offer, but it was considered unfavourable by the Tunisian government. In early 2004, the Tunisian and Algerian governments chose French bank BNP Paribas to assist them in the privatisation of 100 per cent of the jointly owned A... |
Aditya Birla name game13 September 2005, Published under Cement NewsThe Aditya Birla Group has taken a cue from the Tatas and Reliance. All group companies are likely to have the name of its founder-chairman, and the creation of Aditya Birla Nuvo is just the beginning. Aditya Birla Group Chairman Kumar Mangalam Birla told Business Standard that all group companies bearing the same name tag was a possibility. But he did not say how soon this would be implemented. The country’s third largest business group has several companies under its umbrella, incl... |
Cement giant holds talks on CNY700m long-term loan12 September 2005, Published under Cement NewsAnhui Conch Cement, China’s largest cement producer, is in talks to secure a long-term loan of CNY600-700m (HK$576-HK$672m), the company said. “The loan will soon be approved, said Zhang Mingjing, the secretary of board of directors, at a forum organized by BNP Paribas. She did not elaborate on the use of the loan. The government has taken measures since last year to curb the growth of the cement industry, including loan tightening, in efforts to prevent the economy from overheating. ... |
Lafarge hit by lower cement prices in Brazil, Malaysia and Korea09 September 2005, Published under Cement NewsOn the previously announced 6.3% increase in turnover 5.7% to €7,220m for the first half, Lafarge’s EBITDA for the period fell by 3.7% to €1,291m. The trading profit declined by 7.3%, or by 9.3% on an underlying basis, to €837m, while an 8.9% drop in net interest payments to €214m was largely offset by a drop in the contribution from associates, leaving the running profit 10.5% lower at €623m. The decline in profitability primarily came from Germany with a €31m decline, principally in roof... |