Cement News tagged under: corporate
Arabian Cement sees revenue and profit surge in 1H2216 August 2022, Published under Cement NewsArabian Cement has reported revenue of EGP2.129bn (US$111.2m) in the first half of 2022, significantly up from the EGP964.9m seen in the same period a year earlier. Consolidated profit also surged, improving from a net loss of EGP23.28m in the 1H21 to a profit of EGP119.49m in the opening six months of this year, according to Mist News. |
West China Cement issues profit warning16 August 2022, Published under Cement NewsWest China Cement has issued a profit warning for the six months ended 30 June 2022. According to the company, net profit attributable to shareholders is expected to fall by 40-45 per cent compared to the same period a year earlier. One of the reasons for the decline is the group’s foreign exchange gain which came in at CNY27.5m (US$4.05m) in the first six months of 2022, compared to a gain of CNY347.3m in the same period in 2021. This is due to the exchange rate difference incurred on int... |
Votorantim Cimentos records strong performances in Brazil and North America in 2Q2215 August 2022, Published under Cement NewsVotorantim Cimentos’ regional results in the 2Q22 recorded strong revenues despite inflationary pressures. The domestic market of Brazil and operations in Europe, Asia and Africa were the highest performing areas with a decline in Latin American revenues. In Brazil net revenue was BRL3.2bn (US$620.2m) in the second quarter of 2022, a 24 per cent increase compared to the same period last year. Adjusted EBITDA in the quarter was BRL606m, down nine per cent from 2Q21 due to a drop in sa... |
Loma Negra posts 8% increase in 2Q revenues15 August 2022, Published under Cement NewsArgentina-based Loma Negra , part of InterCement do Brasil SA , reported an eight per cent YoY increase in net sales revenues to ARS25,268m in the second quarter of 2022. The company attributes the improved turnover to an increase in cement sales and a good performance in other segments, particularly in concrete and aggregates. Furthermore, the company achieved a 2.6 per cent YoY uptick in consolidated adjusted EBITDA to ARS7328m, but the consolidated adjusted EBITDA margin contracted 15... |
Grasim Industries sees 41% YoY rise in revenue in 1QFY2315 August 2022, Published under Cement NewsGrasim Industries has reported a 41 per cent YoY increase in consolidated revenue in the 1QFY23. The three-month period saw revenue of INR280,420m (US$3518m), compared to INR199,190m in the 1QFY22. EBITDA advanced by 10 per cent YoY from INR47,360m to INR52,330m, while profit after tax saw a 19 per cent YoY rise from INR16,670m to INR19,330m on a consolidated basis. Despite inflationary cost pressures, the company also reported its best-ever standalone financial performance with revenue and ... |
Asia Cement reports TWD4458m net profit in 2Q2215 August 2022, Published under Cement NewsTaiwan’s Asia Cement Corp posted revenues of TWD24,488m (US$816.3m) in the second quarter of 2022, up 9.2 per cent when compared with the 2Q21. Pretax profit came in at TWD5620m in the period under review, down 17.4 per cent from TWD6805m in the year-ago period. The company also saw a net profit of TWD4458m in the 2Q22, representing a 1.3 per cent decrease when compared with the 2Q21, when net profit reached TWD4515m. |
India Cements doubles 1Q net profit15 August 2022, Published under Cement NewsIndia Cements Ltd (ICL) reported that net profit for the 1QFY2023 more than doubled to INR760m (US$9.54m) over the year-earlier period. Revenue from operations rose by 41 per cent to INR14,460m and total expenditure increased by 57 per cent to INR152,60m, the company said in a filing. Total comprehensive income more than doubled to INR800m. During the quarter, clinker production was up by 28 per cent while cement sales rose by 38 per cent to 2,553,000t. Clinker sales were marginally... |
Ghori Cement completes phase 2 of modernisation15 August 2022, Published under Cement NewsGhori Cement in Afghanistan has increased production with the start of Phase 2 of its modernisation programme, raising cement output from 350tpd to 520tpd, according to local officials. Abdul Wakil Qauomi, financial manager of Ghori Baghlan cement factories, told Bakhtar Agency that the factory is able to export more cement across the country or abroad. After handing over the Ghori cement factories to the National Development Directorate, technical problems of factories have been sol... |
Votorantim Cimentos earns revenue of BRL6.7bn in 2Q2212 August 2022, Published under Cement NewsVotorantim Cimentos ended the 2Q22 with consolidated net revenue of BRL6.7bn (US$1.3m), an increase of 15 per cent compared to the same period last year. This result was primarily due to favourable price dynamics, in addition to the positive impact of additional sales resulting from the acquisitions concluded in 2021, said Votorantim. The company’s global cement sales totalled 9.6Mt, down two per cent from the 2Q21. Despite the challenging environment, the company demonstrated... |
Holcim Philippines sees net profit slump in 1H2212 August 2022, Published under Cement NewsHolcim Philippines Inc has reported revenue of PHP12.2bn (US$219.2m) in the first half of 2022, down from PHP13.7bn in the same period a year earlier. EBITDA has declined from PHP3.2bn to PHP2.1bn over the same period, with net profit falling from PHP1.6bn to PHP661m. In the second quarter, ended 30 June 2022, revenue came in at PHP5.4bn, compared to PHP6.9bn in the 2Q21. Operating EBITDA slipped from PHP1.4bn to PHP1.1bn, and net profit slumped from PHP721m to PHP240m. The company has... |