Cement News tagged under: corporate
Argos sees high 1Q21 cement volumes in Colombia and Central America11 May 2021, Published under Cement NewsIn the 1Q21 Argos recorded consolidated income of US$651.6m and EBITDA was US$125.1m. This was thanks to better dynamics in all markets and a lower comparison base in Colombia, and the Caribbean and Central America. Cement volumes reached 4.1Mt, thus representing an increase of 19 per cent compared to the 1Q20. Cconcrete shipments totalled 2Mm 3 , with a decrease of 4.4 per cent, mainly caused by weather conditions in the USA and a slower recovery of formal construction in Colomb... |
UltraTech Cement's 19.5Mta capacity projects start civil work11 May 2021, Published under Cement NewsUltraTech Cement has placed most of the equipment orders and has seen the start of civil work at the sites of its capacity expansion projects, according to a company update. Earlier the company had approved capacity expansion plans of 19.5Mta through a mix of brownfield and greenfield expansion, covering five integrated cement plants and 12 grinding units. The additional capacity is being created in the fast-growing markets of the east, central and north regions of the country. ... |
Cementarnica Usje reports 5% rise in profit11 May 2021, Published under Cement NewsNorth Macedonia's Cementarnica Usje (Titan group) has reported a 5.1 per cent YoY decline in net profit to MKD182.1m (US$3.6m) in the first quarter of 2021. However, operating revenue increased 9.4 per cent to MKD924.8m. Domestic sales advanced 9.6 per cent to MKD623.4m, while sales from foreign markets rose 24.3 per cent to MKD272.9m. Operating expenses grew 7.6 per cent YoY to MKD699.9m in the first quarter, as costs for materials were up by 84.9 per cent to MKD64.7m. |
Buzzi Unicem reports consolidated net sales of EUR3.22bn for FY2110 May 2021, Published under Cement NewsBuzzi Unicem’s financial statements for the year ended 31 December 2020 reported consolidated net sales came in at EUR3222.4m, virtually unchanged compared to EUR3221.4m in 2019. EBITDA stood at EUR780.8m (EUR728.1m in 2019). The income statement reported a consolidated net profit of EUR560.2m versus a profit of EUR385.7m in 2019. As at 31 December 2020, net debt amounted to EUR241.6m, down EUR326.2m from EUR567.8m at 2019 year-end. Total equity, inclusive of non-controlling interests, s... |
Arabian Cement sees 49% surge in profit10 May 2021, Published under Cement NewsSaudi Arabia’s Arabian Cement Co has seen a 48.5 per cent YoY surge in net profit to SAR67m (US$17.87m) in the first quarter of 2021, up from SAR45.1m in the 1Q20. Sales increased 57 per cent YoY to SAR321.5m from SAR204.6m, or up 10.5 per cent QoQ from SAR290.8m. Net income also advanced 25.7 per cent QoQ from SAR53.3m. |
Lucky Cement posts 15% fall in revenue10 May 2021, Published under Cement NewsTaiwan’s Lucky Cement has posted a 14.5 per cent YoY decline in April revenue to TWD345.56m (US$12.44m) from TWD404.2m in the year-ago period. In the first four months of 2021, the company saw a 7.8 per cent fall in revenue to TWD1.39bn from TWD1.51bn. |
UltraTech Cement reports consolidated net sales of INR142.3bn in 1Q2110 May 2021, Published under Cement NewsUltraTech Cement Ltd saw consolidated net sales of INR142,320m (US$1.94bn) in the 1Q21 vis-à-vis INR106,890m over the corresponding period of the previous year. Profit before interest, depreciation and tax was INR37,510m vis-à-vis INR26,450m in the corresponding period of the previous year. Profit after tax was INR17,750m compared to INR11,290m in the corresponding period of the previous year. For the full year, consolidated net sales reached INR442,390m when compared with INR417,810m ... |
Saudi Arabian producers report 15% decline in net profit07 May 2021, Published under Cement NewsSaudi Arabian producers listed in the main market saw an estimated 15 per cent decline in total net profits to SAR892.5m (US$237.9m) in the first quarter of 2021, compared to around SAR1.05bn in the year-ago period, according to Al Eqtisadiah. Four companies reported growth during the quarter, while the remaining 10 saw a decline. Najran Cement recorded the highest growth in net profit at 51.4 per cent, followed by Arabian Cement Co (+48.6 per cent) and Al Jouf Cement (+15.4 per cent). Ho... |
Nuvoco Vistas set to file papers for INR50bn IPO07 May 2021, Published under Cement NewsIndia’s Nuvoco Vistas Corp is shortly expected to file preliminary papers with the Securities and Exchange Board of India to raise INR50bn (US$679.35m) through an initial public offering. The sale would consist of INR15bn of new shares and an offer for sale of INR35bn by its promoters, according to the Economic Times. The proceeds are expected to be used for loan repayments and general corporate purposes. |
BUA Cement announces plans for bond sale07 May 2021, Published under Cement NewsNigeria’s BUA Cement has announced plans to sell a second tranche of bonds under its NGN200bn (US$525.6m) programme to finance its expansion plans, following the release of the first NGN115bn tranche last year. Yusuf Binji, CEO, noted that the amount of the sale will depend on its funding needs but did not give an expected time for the sale. The company plans to expand capacity in the country to 20Mta from 11Mta. "We will only export our excess capacity if the Nigerian market is not able... |