Cement News tagged under: corporate
EAPC sees 6M loss widen in 201801 March 2019, Published under Cement NewsKenyan cement producer East African Portland Cement reported a KES1.2bn (US$12m) loss for the half-year ending 31 December 2018, compared with a KES970m loss in the prior-year period. Sales revenue fell by 55 per cent to KES1.3bn. The company attributed the widening loss to a difficult business environment with increasing input prices, the sluggish market and challenges in its production due to a tight working capital. |
Lehigh Cement wins Governor's Workspace Safety Award01 March 2019, Published under Cement NewsLehigh Cement Company LLC (Lehigh Hanson, Inc), was awarded the Governor's Workplace Safety Award in the medium-size business category for innovation at the company's Mitchell, Indiana, plant. The Governor's Workplace Safety Awards are a result of a collaboration among the Indiana Department of Labor on behalf of Governor Eric J Holcomb, the Indiana Chamber of Commerce and the Central Indiana Chapter of the American Society of Safety Engineers. Governor Eric J Holcomb recognised winners ... |
FLSmidth expands executive management01 March 2019, Published under Cement NewsFLSmidth has announced that Annette Terndrup, head of Group Legal and Strategy, and Cori Petersen, head of Group HR, will join the company’s executive management. "I am very pleased to welcome Cori Petersen and Annette Terndrup to our Group Executive Management. Their combined experience will support our ability to navigate increased business complexity and enhance our talent development," said Thomas Schulz, CEO. |
Holcim Philippines reports 5% fall in net profit01 March 2019, Published under Cement NewsHolcim Philippines has reported a five per cent fall in 2018 net profit to PHP2.55bn (US$49.3m), compared with PHP2.69bn of the previous year. However, the company also noted a three per cent YoY rise in net sales to PHP35.62bn. EBITDA in 2018 declined 10 per cent to finish at PHP4.89bn. The profit decrease has been attributed to higher interest expenses from short-term loans to fund its ongoing expansion projects. "In 2018, we faced higher production and financing expenses, but we succe... |
Dandot Cement declares loss of PKR177.51m in 1HFY18-1901 March 2019, Published under Cement NewsDandot Cement Company Ltd (DCCL) has announced its financial results for the half-year ended 31 December 2018. It declared a loss of PKR177.51m (US$1.27m), as compared to loss of PKR320.95m reported in the equivalent period last year. DCCL Company Secretary, Muhammad Kamran, informed the Pakistan Stock Exchange (PSX) that net sales during the 1HFY18-19 slightly increased to PKR741.30m from PKR679.05m during this period. It incurred a higher distribution cost of PKR2.7m against PKR2m in the... |
Argentine hyperinflation costs Cementos Molins EUR11m01 March 2019, Published under Cement NewsSpain-based cement producer Cementos Molins saw a negative effect of EUR11m (US$12.5m) in its business results in 2018 due to the hyperinflation and the devaluation of Argentina, according to Spanish economic and business newspaper Expansión. Its profit fell by four per cent to EUR85m in 2018. The reduction of the Argentine’s subsidiary cash also affected the company’s debt levels, which increased by 22 per cent to EUR179m as a result of lower cash levels and investments made. |
CRH sees 31% hike in group net profit in 201828 February 2019, Published under Cement NewsCRH reported a six per cent increase in sales revenues to EUR26.79bn in 2018 from EUR25.22bn in 2017. The company’s EBITDA advanced seven per cent to EUR3.365bn in 2018 when compared with EUR3.146bn the previous year. Group net profit jumped 31 per cent to EUR2.521bn from EUR1.919bn in the year-ago period. The company attributes the robust results to strong financial discipline with EUR2.4bn operating cash flows from continuing operations and a year-end net debt-EBITDA ratio of over 2.1 t... |
Dangote Cement reports rise in group revenue for 201828 February 2019, Published under Cement NewsNigeria’s Dangote Cement announced a 11.9 per cent YoY rise in group revenue to NGN901.2bn (US$2.48bn) from NGN805.6bn for the full-year 2018 period. The results were driven by a 11.4 per cent increase in Nigerian cement sales to 14.178Mt and a 9.5 per cent higher revenue per tonne for pan-African operations. Group EBITDA advanced 12.1 per cent to NGN435.26bn, compared with NGN388.14 of 2017. Meanwhile, total cement sales were up 7.4 per cent to 23.535Mt. "This is a record financial per... |
Chip Mong Insee Cement achieves 26% market share in Cambodia in first year28 February 2019, Published under Cement NewsAfter just one year of operations, Chip Mong Insee Cement Corporation (CMIC) has achieved a 26 per cent of market share in Cambodia, company representatives said. Speaking at the company's one-year anniversary celebration, Aidan Lynam, CEO of CMIC, said the secret to its success is the focus on quality. "It is estimated that 8Mt of cement are consumed every year [in Cambodia]. After a full year of operations, we are supplying 1.6Mt, roughly 26 per cent of the total supply. Our strategy is ... |
Sabanci Holding to invest TRY6bn in 201928 February 2019, Published under Cement NewsSabanci Holding, one of Turkey's largest conglomerates, has said it is planning a total of TRY6bn (US$1.13bn) of investments this year. "This figure excludes any acquisitions or mergers that may emerge within the year based on strategic developments," Sabanci said in a filing with Borsa Istanbul. "Rebalancing in the Turkish economy has begun. We are expecting long-term reforms after the [March 31 local] elections. We have taken our precautions. We will continue to produce and invest," said... |