Cement News tagged under: corporate
Holcim Slovakia31 March 2004, Published under Cement NewsThe largest cement producer in Slovakia, Holcim (Slovensko), Rohoznik, earned a net profit of SKK 111 million last year. "The company’s profit decreased compared with the previous year, while the acquisition of three concrete ready-mix plants and merger with Holcim Beton a.s., were the most significant factors behind this drop," reported company representatives. Holcim’s turnover increased in Slovakia to SKK 3.4 billion last year. An investment of over SKK2 billion into the modernization of ... |
Buzzi Unicem’s balance sheet29 March 2004, Published under Cement NewsOn turnover 1.2 per cent lower at €1461m, Buzzi Unicem’s operating profit at the EBITDA level declined by 5.9 per cent to €433.9m in 2003. Adjusting for the weakness in the US and Mexican currencies gives underlying increase in the EBITDA of 3.4 per cent and a 7.0 per cent increase in respect of the turnover. The reduction in operating margins reflects higher energy and freight costs. Group cement deliveries rose by 3.9 per cent to 14.2Mt and ready-mixed concrete deliveries were 10.1 ... |
HeidelbergCement’s EBITDA falls26 March 2004, Published under Cement NewsOn a turnover falling 3.0 per cent at €6372m, HeidelbergCement operating profit at the EBITDA level fell by 10.7 per cent to €1024m, with trading profit 21.8 per cent lower at €391m. The net interest charge was 2.6 per cent lower at €222m and helped by higher investment income, the running profit before tax emerged 25.0 per cent lower at €258m. The net debt was reduced by some €700m during the year, giving a reduction in the gearing level from 112 per cent to 86 per cent. Capital investme... |
Indocement’s debt continues to fall26 March 2004, Published under Cement NewsCement and clinker sales by Indocement, the second largest cement producer in Indonesia behind Gresik, declined by 3.9 per cent last year to 11.02Mt. Although the Indonesian cement market improved by around one per cent last year, Indocement’s domestic deliveries fell by 7.2 per cent to 8.4Mt as the company took a more aggressive stance on pushing up prices than some of its competitors. Export volumes, on the other hand, moved ahead with the majority of exports going to the HeidelbergCemen... |
YTL buys back 2.6m shares26 March 2004, Published under Cement NewsYTL Power International Bhd told the Stock Exchange it had bought back 2.6 million of its shares on Wednesday, all of which are retained in company’s treasury. It paid between RM3.34 to RM3.50 for each share, or a total of RM9.1 million. YTL Power said it proposes to cancel 44.9 million of the shares it has bought back. In a separate announcement, YTL Cement Bhd said it has bought back 538,600 of its own shares at prices ranging from RM5.00 to RM5.30 each for RM2.8 million. The company ... |
TPIPL changes strategy, seeks guarantee for bonds26 March 2004, Published under Cement NewsTPI Polene Plc (TPIPL), the country’s third largest cement producer, said yesterday it plans to ask Krung Thai Bank Plc to be the guarantor for its planned issuance of bonds, a shift from its previous strategy to secure loans from the bank. Chief executive officer Prachai Leophairatana said TPIPL was still hoping to get a loan from KTB, but is now contemplating selling bonds in the hope KTB will guarantee them. Under an initial plan worked out by TPIPL’s management and KTB, the bank was ex... |
Indonesia’s Semen Gresik delays audit report26 March 2004, Published under Cement NewsPT Semen Gresik said it will delay releasing its 2002 and 2003 consolidated financial reports by six months to after this September due to a request to widen the scope of a special audit at subsidiary PT Semen Padang. In a statement to the Jakarta Stock Exchange, Indonesia’s largest cement firm said the delay will put it about seven months behind the bourse’s deadline on March 31. "The extension of the audit as requested by the commissioners representing CAHL (Cemex Asia Holdings Ltd) will... |
YTL firms prices higher25 March 2004, Published under Cement NewsThe shares of four YTL companies closed sharply higher on March 24 after they announced to split their shares. YTL e-Solutions Bhd was among the day top gainers, rising 41 sen to close at RM1.76. It was traded from RM1.48 to RM1.90, with 5.63 million shares done. YTL Cement Bhd closed at its day high of RM5.30, up 30 sen. YTL Land & Development Bhd was up 29 sen to close at RM2.70. It was traded from RM2.41 and RM2.74. On Tuesday, YTL Power, YTL Cement and YTL Land each proposed to sub-div... |
Merrill initiates Chia Hsin coverage with "buy"25 March 2004, Published under Cement NewsMerrill Lynch on Wednesday initiated coverage of Taiwan’s third largest cement maker Chia Hsin Cement Corp with a "buy" recommendation saying it was leveraged to growth opportunities in the booming Chinese mainland. "Chia Hsin’s production and expansion is expected to catch the wave of rising opportunity in China....We believe Chia Hsin is undervalued," said Merrill Lynch analyst Nick Lai in a research report. The bank said a surging demand for high-grade cement is unlikely to be resolved ... |
Beni Suef losses25 March 2004, Published under Cement NewsEgyptian cement company Beni Suef Cement reported a net loss of 318.8m Egyptian pounds (US$51.7m) for 2003, up from 84.92m pounds (US$13.8m) in 2002. The wider net loss came despite an 11.4 per cent year-on-year increase in net sales to 244.28m pounds (US$39.6m), coupled with a 6.6 per cent growth in the cost of goods sold to 186.49 mln pounds. Beni Suef Cement has a capital of 330 mln pounds ($53.5m) divided into 33 million shares at a par value of 10 pounds ($1.62/1.32 euro). The company i... |