Cement News tagged under: corporate
Holcim adds ready-mix company to its US portfolio25 May 2022, Published under Cement NewsHolcim has acquired Cajun Ready Mix Concrete, the largest in its sector in the Baton Rouge metropolitan area, Louisiana, USA. The transaction will integrate Cajun's expertise along with its eight ready-mix concrete plants, 108 employees and 51 mixer trucks. Region Head North America, Toufic Tabbara, said: “This acquisition expands our footprint in the dynamic Baton Rouge market, confirming our focus on growth in North America. Cajun’s commitment to innovation, service and quality, along... |
Shree Cement sees 4% increase in revenue in 1Q2224 May 2022, Published under Cement NewsShree Cement has reported a 3.9 per cent YoY uptick in revenue to INR40.99bn (US$527.8m) in the opening quarter of 2022. Sales volumes over the same period slipped two per cent to 8Mt, while EBITDA declined to INR10.49bn, compared to INR13.04bn in the 1Q21. The EBITDA margin contracted from 31.97 per cent in the 1Q21 to 24.75 per cent this year. According to BusinessLine Online, the growth in revenue is being attributed to price increases as cost pressures and inflation continue to ha... |
Bestway Cement Ltd plans greenfield Punjab plant24 May 2022, Published under Cement NewsBestway Cement Ltd has announced its plans to setup a greenfield cement plant with a capacity of 7200tpd of clinker in Punjab province, Pakistan, along with 9MW waste heat recovery plant. Bestway Cement has entered into an agreement with Sinoma International Engineering Co of China for engineering, procurement and construction (EPC). “In view of increasing demand for cement in the country, Bestway Cement has decided to setup a greenfield cement plant in District Mianwali along with 9... |
Najran Cement reports 24% fall in revenue in 1Q2224 May 2022, Published under Cement NewsNajran Cement Co has recorded a 61.41 per cent YoY decline in net profit in the opening quarter of 2022. Net profit after zakat and tax came in at SAR23.28m (US$6.21m) in the 1Q22, compared to SAR60.34m in the same period a year earlier. Earnings per share in the first quarter of 2022 were SAR0.14, versus SAR0.35 in the same quarter a year earlier. According to Mubasher, revenue over the 1Q22 stood at SAR139.86m, down 24.2 per cent from the SAR184.43m reported in the opening quarter o... |
Nuvoco Vistas Corp sees 24% increase in revenue in FY21-2223 May 2022, Published under Cement NewsIndia-based Nuvoco Vistas Corp has announced its audited financial results for the financial year ended 31 March 2022. Consolidated revenue from operations improved by 24 per cent to INR93.18bn (US$1.2bn) for FY21-22 while consolidated EBITDA reached INR15.39bn and profit after tax at INR320m. Consolidated net debt declined by INR16.66bn to INR50.64bn in the FY21-22. Commenting on the financial results, Nuvoco Vistas Corp MD, Jayakumar Krishnaswamy, said: "FY22 was an exceptionally c... |
Yanbu Cement sees 17% fall in 1Q22 revenue23 May 2022, Published under Cement NewsYanbu Cement has reported a 17.4 per cent YoY decline in revenue to SAR242m (US$64.53m) in the opening quarter of 2022. However, this was still above the SAR224m estimated by Al Rajhi Capital. Gross profit over the same period contracted by 33 per cent YoY, while operating profit fell by 41.4 per cent, according to Trade Arabia. The Saudi company attributes the decline to a 6.7 per cent fall in cement volumes, which came in at 1.3Mt in the 1Q22. This compares to an average contraction... |
JK Cement 4Q net profit advances 36%23 May 2022, Published under Cement NewsIndian cement producer JK Cement reported a standalone net profit of INR862.6m (US$11.1m) for the quarter ended 31 March 2022, representing an increase of 36.2 per cent when compared with the 1Q21 when net profit reached INR633.4m. Net revenue increased 10.6 per cent to INR22.689bn in January-March 2022 ffrom INR20.525bn in the year-ago period. However, operating expenses were up 16.9 per cent tYOY to INR18.863bn from INR16.338bn in the 4Q21. The company’s operating profit slipped by... |
Eagle Materials reports 15% increase in revenue20 May 2022, Published under Cement NewsEagle Materials has reported record revenue of US$1.9bn in the FY22, up 15 per cent YoY. Net earnings advanced by 10 per cent to US$374.2m over the same period, while adjusted EBITDA from continuing operations improved by 15 per cent to reach US$657.4m. In the fourth quarter of the FY22, revenue increased by 20 per cent YoY to another record of US$413.1m, with net earnings advancing by 13 per cent to US$74.3m. Adjusted EBITDA from continuing operations also grew in the fourth quarter, up by ... |
HeidelbergCement buys 50% share in CBI20 May 2022, Published under Cement NewsHeidelbergCement has signed an agreement to acquire 50 per cent of shares of and invest into Continental Blue Investment SA (CBI) who controls the Ghanaian cement producer CBI Ghana . With this step, the HeidelbergCement will take part in the construction of the world’s largest flash calciner. In addition, HeidelbergCement will strengthen its presence in Ghana through CBI’s cement grinding operations. The joint venture partners are committed to exploring additional calcined cl... |
Southern Province revenue down 25% in 1Q2220 May 2022, Published under Cement NewsSaudi Arabia-based Southern Province Cement Co has posted a revenue of SAR330m (US$88m) for the first three months of 2022. This represents a 25 per cent drop when compared with the 1Q21. Cement sales volumes were down 23.7 per cent YoY to 1.6Mt. Gross profit declined 42.3 per cent YoY while operating profit decreased 47 per cent YoY in the 1Q22. Gross margins were down to 32.2 per cent in the 3M22 from 41.9 per cent in the 3M21. "For Q1 2022, cement volume of SPCC fell by 23.7 per cen... |