Cement News tagged under: corporate
Arabian Cement records 2Q21 revenue of SAR233m30 August 2021, Published under Cement NewsArabian Cement Co (ACC) registered a revenue for the 2Q21 of SAR233m (US$62m), a YoY increase of 66.9 per cent. The company achieved an 82.9 per cent YoY improvement in cement volume from its Saudi Arabian operations and a 51.5 per cent YoY growth in revenue from outside the kingdom, according to Al Rajhi Capital. Cement sales volume for the 2Q21 reached 0.7Mt, 7.9 per cent higher than the research house's estimate. Gross profit and operating profit increased by 2.0x YoY and ... |
Bamburi Cement records 21% climb in turnover30 August 2021, Published under Cement NewsKenya's Bamburi Cement has recorded a 21 per cent YoY growth in turnover to KES19.6bn (US$178.45m) for the first half of 2021, compared with KES16.2bn in the 1H20. Pre-tax profit also surged to KES1.1bn from KES213m. The company attributed the results to a recovery of the cement market, with domestic and export volumes rising while demand for premium cement products also increased. "The past year has been a learning curve that has enabled us to evolve towards more modern business practic... |
Colombia's tax change may impact Argos valuation30 August 2021, Published under Cement NewsColombia's Congressional Economic Committees have voted in support of the tax change proposed by Iván Duque's government, a step that could impact the valuation of domestic cement producer Argos, according to a report by UBS. The project, also known as social investment, targets an additional COP15.2bn (US$3.97m) to the state purse and UBS research expects a 35 per cent increase in corporate taxes and a 38 per cent in financial sector taxes. While the tax change is expected to improve Colo... |
Lebap Cement sees 8% rise in dispatches27 August 2021, Published under Cement NewsThe Lebap Cement plant in Turkmenistan delivered 470,924t of M-400 and M-500 Portland cement to customers between January-July 2021, according Trend News Agency. The data reflect a 7.8 per cent YoY rise in dispatches. The plant currently has a production capacity of 1Mta and is located in the Koytendag district of the Lebap region, but is undergoing a 1Mta expansion project. Commissioned in 2013 the production facility has supplied both the domestic and export markets. |
Holcim to upgrade Obourg27 August 2021, Published under Cement NewsHolcim has applied for the renewal of its operating licence at the Obourg cement plant in Belgium. The company also plants to carry out a modernisation programme and build a new kiln that ultimately enables carbon capture. “This project was called GO4ZERO because it supports the ambition of carbon neutrality that the Holcim group has set itself by implementing, as a world first, a design of a dry-process kiln to concentrate CO2 and allow its capture and subsequent recovery,” said Holcim. ... |
Dongwu Cement reports surge in 6M profit27 August 2021, Published under Cement NewsDongwu Cement reported a 30 per cent rise in unaudited revenues to CNY227.8m (US$35.1m) in the first six months of 2021, up from CNY174.8m in the 6M20. The company’s gross profit margin of the cement segment advanced to 21.8 per cent in the 6M20 from 16.7 per cent in the year-ago period. Profit attributable to the company’s owners surged from CNY10.8m in the 6M20 to CNY25.6m in the 6M21. Dongwu Cement International Ltd is a limited liability company incorporated in the Cayman Islands a... |
Aalborg Portland reports sluggish Futurecem sales27 August 2021, Published under Cement NewsSales of its lower-carbon cement, Futurecem, have not reached the projected volumes of 40,000tpa, 18 months after its market launch, according to Denmark-based Aalborg Portland. To date sales of 2000t have been reported. Aalborg Portland CEO, Michael Lundgaard Thomsen, said the company will carry out a 20-30 per cent price reduction to bring Futurecem’s price in line with that of standard cement. However, he added that the price was not the only reason for the subdued sales of the product.... |
NOCIBE raises cement price26 August 2021, Published under Cement NewsNouvelle Cimenterie du Bénin (NOCIBE) will increase the price of cement from its plants from 1 September 2021. CEM II 32.5 R cement will cost XOF64,617/t (US$115.96/t), including tax while CEM II 42.5 R cement will be sold at XOF66,997/t, including tax. NOCIBE runs a 1.5Mta integrated cement works at Massé, Benin, and is the country’s largest cement producer. |
AdBri sees 95% surge in profit for the 1H2125 August 2021, Published under Cement NewsAustralia’s AdBri has posted a net profit after tax of AUD56.6m (US$41m) in the first half of 2021, up 94.5 per cent on the year-ago period. Revenue also advanced 7.4 per cent YoY to AUD752.3m from AUD700.7m, as demand for construction materials increased. "Adbri delivered a robust first half financial performance for 2021 recording solid growth in revenue and profits with improving margins as demand for construction materials rebounded, supported by increased residential housing activity ... |
Dangote Cement announces NGN150bn commercial paper programme25 August 2021, Published under Cement NewsNigeria’s Dangote Cement has announced a new NGN150bn (US$364.84m) Commercial Paper Programme. The programme is expected to allow the company to broaden its funding sources and, combined with its NGN300bn multi-instrument issuance Bond programme, increase its access to capital market funding. The Commercial Paper will be used for working capital and general corporate purposes, according to a statement. "The establishment of a new NGN150bn Commercial Paper confirms Dangote Cement Plc’s ... |