Cement News tagged under: corporate
Bamburi sees 37% drop in net profit in 201911 May 2020, Published under Cement NewsKenya-based Bamburi Cement has posted a 37 per cent YoY fall in net profit in 2019. Net profit declined to KES359m (US$3.39m) from KES572m in 2018. The company attributed the decrease in profit to reduced domestic cement consumption, low prices and an inability to access the Rwandan market due to the closure of the border with Uganda, denying its Uganda subsidiary Hima Cement access to the Rwandan market early last year. Bamburi’s revenues slipped by 1.2 per cent to KES36.79bn in 2019 fro... |
San Miguel Corp sale transaction lapses11 May 2020, Published under Cement NewsIn May 2019 LafargeHolcim signed an agreement with San Miguel Corp for the sale of its entire 85.7 per cent shareholding in Holcim Philippines Inc, subject approvals, including those required by the Philippines Competition Authority (PCC). The PCC did not issue an approval of the transaction within the required time period and consequently the agreement lapsed. With today's unprecedented COVID-19 crisis, Holcim Philippines' number-one priority is to protect the health of its people while... |
HeidelbergCement releases 1Q20 results07 May 2020, Published under Cement NewsHeidelbergCement has recorded a seven per cent decline in revenue to EUR3.93bn for the first quarter of 2020, compared with EUR4.24bn in the year-ago period. The company saw sales volumes across all lines increase in January and February, however, its volumes from mid-March were severely affected by the coronavirus pandemic. As a result, total cement and clinker sales volumes decreased three per cent YoY to 27.7Mt from 28.6Mt. Deliveries of aggregates also fell four per cent to 60.1Mt in t... |
Cemento Melón to sell concrete products business07 May 2020, Published under Cement NewsCemento Melón has announced it will divest its concrete products business and has signed an agreement with Grau SA to sell 49 per cent of its concrete prefabrication shares. The divestment will enable the Chilean cement producer to wholly focus and strengthen its key businesses of cement, concrete and sand. Pedro Grau of Grau SA said the company “understood the strategic decision of Melon to relinquish its stake, a step that is lamentable as we value the permanent contribution of its direct... |
Vicat post 3% sales increase in 1Q2006 May 2020, Published under Cement NewsVicat reported a 2.6 per cent advance in total consolidated sales in the January-March 2020 period to EUR615.5m from EUR600m in the 1Q19. At constant scope and exchange rates, consolidated sales edged up 0.2 per cent YoY. The company posted a 5.5 per cent rise in consolidated cement sales to EUR319m in the first quarter of 2020 – or an increase of 3.7 per cent at constant scope and exchange rates – when compared with the 1Q19. Concrete and aggregate sales were up 1.4 per cent YoY to EUR2... |
Argos records revenues of COP2.2trn in 1Q2006 May 2020, Published under Cement NewsIn the first three months of 2020, Argos (Grupo Argos) reported revenues of COP2.2trn (US$5.6bn), a figure that remains stable when compared to 2019. EBITDA, including the effect of IFRS16, was COP343bn, decreasing one per cent when compared to the same quarter of the previous year. During the period, the total volume of cement dispatched reached 3.6Mt, down 6.1 per cent, and ready-mix volumes fell 10.7 per cent to 2.1Mm 3 . "In general, the results were impacted mainly because of the clo... |
Tasek Corp reports 1Q20 results06 May 2020, Published under Cement NewsMalaysia’s Tasek Corp has posted a net profit of MYR4.19m (US$971,589) in the first quarter of 2020, compared with a net loss of MYR10.42m in the year-ago period. However, revenue declined 4.2 per cent YoY to MYR131.49m from MYR137.26m in the 1Q19. The cement sector saw an operating profit of MYR3.1m against a loss of MYR13m last year. However, sales volumes fell due to the close of operations related to the nationwide movement control order (MCO). Going forward, the company is expectin... |
Salonit Anhovo restarts cement production06 May 2020, Published under Cement NewsSlovenian cement producer, Salonit Anhovo (Wietersdorfer Group) has resumed cement operations after 14-day shutdown due to the COVID-19 pandemic that caused reduced demand for its domestic market and exports to Italy. Production was suspended on 20 April and resumed on 4 May, as the company used the two-week break to carry out maintenance works, while continuing to make cement shipments to meet the needs of its clients during the period, Salonit Anhovo said. "Construction sites in Italy ha... |
Cemex Philippines sees net sales fall 10%05 May 2020, Published under Cement NewsCemex Holdings Philippines Inc announced that net sales decreased by 10 per cent during the 1Q20, versus the 1Q19, amounting to PHP5.6bn (US$110.7m). Domestic cement volumes decreased by four per cent versus 1Q19. An eight per cent increase in volumes during the first two months of the year was offset by the effects of the Enhanced Community Quarantine in Luzon and other quarantine measures around the country during the second half of March 2020. CHP’s domestic cement prices fell by six pe... |
Qalaa Holdings records revenues of EGP14.9bn in FY201905 May 2020, Published under Cement NewsQalaa Holdings of Egypt has reported total revenues of EGP14.9bn (US$945m), for its consolidated financial results for the year ended 31 December 2019, up 11 per cent YoY. Qalaa's EBITDA remained steady at EGP1.3bn in FY19 and increased by 17 per cent YoY in the 4Q19 to EGP325m. Flat full-year EBITDA was largely the result of a 60 per cent YoY decline in ASEC Holding’s EBITDA in FY19. The cement segment's performance was affected by an underperforming cement market in Egypt, and social an... |