Cement News tagged under: corporate
Cimpor 1H down14 September 2004, Published under Cement NewsCimpor-Cimentos de Portugal SGPS said Monday that increased export activity and lower prices for its products in Brazil helped trim consolidated net profit 3.8% in the first half to EUR86.8 mllion from EUR90.3 million in the same period the previous year. Cimpor said the higher transportation costs and lower selling prices related to export sales, as well as overall higher energy costs, trimmed operating margins to 33.7% in the half from 37.8% the previous year. Operating costs rose 11%... |
CEMEX sees Q3 EBITDA higher13 September 2004, Published under Cement NewsCemex sees Q3 EBITDA at US$645m, up 13 per cent from the year earlier period, while operating income is expected to be about US$485m, up 20 per cent. Third quarter revenues are expected at more than US$2bn, it said. For the first nine months of the year, Cemex expects EBITDA to exceed US$1.8 bln usd and revenue of about US$5.8bn, growth rates of 14 per cent and 10 per cent, respectively. Chief financial officer Rodrigo Trevino said: "We are pleased by our strong year to date performance which... |
Lafarge allowed to raise capital13 September 2004, Published under Cement NewsThe Philippines Securities and Exchange Commission (SEC) has allowed the local units of French conglomerate Lafarge group to increase their capital stock as payment for liabilities against their parent companies. In two resolutions, the SEC allowed Lafarge Cement Philippines, Inc. and Lafarge Holdings (Philippines), Inc. to increase their authorized capital stock by P13.292 billion and P13.901 billion respectively. Meanwhile, subscribed and paid-up capital for Lafarge Cement and Lafarge Ho... |
Buzzi Unicem’s first half cement volumes exceed 15Mt13 September 2004, Published under Cement NewsThe enlarged Buzzi Unicem increased cement sales by 2.3% in the first six month of the year to just over 15Mt while ready-mixed concrete deliveries were 2.8% higher at 7.3Mm3. The underlying turnover rose by 4.7% to €1,313.5m and the EBITDA was 5.5% higher at EUR310.3m on the same basis. During the period, the group spent €80.6m on capital expenditure and a further EUR129.7m on financial investments, principally on increasing the stake in Dyckerhoff. Net debt at the end of June stood at €... |
Strong cement sales; weaker prices10 September 2004, Published under Cement NewsA Buy recommendation on Siam City Cement is reiterated with a share price objective of Bt265. The price objective is based on discounted cash flow with a sustainable growth rate of 5% and a discount rate (cost of equity) of 10.8%. Risks to achieving a share price objective include a potential temporary price war and SCCC’s low share liquidity, which could cause the share price to be volatile in response to any upcoming news flow. Fuel costs are expected to rise by 20% in 2004 and a further ... |
Cemento Nacional sells non-core assets10 September 2004, Published under Cement NewsEcuadorian cement producer Cemento Nacional (CN) has sold non-core assets to maintain a focus on cement, concrete and aggregate production, daily newspaper Hoy reported. Five factories that produce blocks, mortars, and prefabricated shapes among other products have been sold under plans formed in 2003 to return to the company’s main businesses, according to Andreas Leu, executive president of the group. CN which produces 1.9Mta of cement. "We consider that now is the time to strengthen ... |
Lafarge widens first half margins10 September 2004, Published under Cement NewsOn the back of a 7.0% increase in turnover to €6,794m, Lafarge increased the operating profit at the EBITDA level by 18.2% to €1,317m and the trading profit by 30.7% to €876m. Helped by a 28.5% reduction in the net interest charge, the running profit before tax emerged 79.3% higher at €660m. The cement division improved its EBITDA by 13.2% to €917m, or 69.6% of the group total, on a turnover 8.1% higher at €3,275m on the back of a 13.6% increase in cement delvieries to 57.6Mt. The trading ... |
Boral eyes Florida tile market10 September 2004, Published under Cement NewsThe Australian-based building materials group Boral is investing US$12m in a clay tile plant joint venture on Trinidad to supply the Florida market. Boral’s joint venture partner, ANSA McAL Group, owns the clay reserves that will supply the tile works. The new plant will have an annual capacity of 15m roof tiles and is scheduled to come on stream in the early part of 2006. This should enable US Tile, a Boral subsidiary to be competitive in the Florida market that is currently dominated by ... |
Lafarge lifts guidance after forecast-beating H1.09 September 2004, Published under Cement NewsLafarge’s first-half net profit more than doubled on higher demand for building materials amid better weather in Europe and North America, prompting the world’s biggest cement maker to improve its 2004 forecast. Lafarge said in a statement on Thursday it now expected 2004 operating income growth of more than 10 percent, excluding currency fluctuations and barring unusually adverse weather. It had initially forecast robust growth in operating income. Lafarge said it earned 376 million eu... |
GCC’s domestic expansion options limited09 September 2004, Published under Cement NewsMexican Cement maker Grupo Cementos de Chihuahua’s limited expansion opportunities in Mexico and dependence on operations in Chihuahua state hinder its credit rating, Standard & Poor’s analyst José Coballasi told BNamericas. Cemex is one of the Cementos Chihuahua’s most important shareholders, and as Mexico’s industry has been dominated by relatively large groups, which means achieving a domestic acquisition could be difficult," he said. In a bid to reduce its dependence on Chihuahua’s eco... |