Cement News tagged under: corporate
Cementarnica Usje net profit falls in 1Q1815 May 2018, Published under Cement NewsMacedonian cement producer Cementarnica Usje has reported a 14 per cent YoY fall in non-consolidated net profit to MKD94.9m (US$1.8m) in the 1Q18, the company said in an interim statement. The Titan-owned company’s operating revenue during the first quarter of this year declined 14 per cent to MKD645.8m when compared with January-March 2017. Domestic sales fell 15 per cent YoY to MKD428.5m while exports contracted by 12 per cent to MKD194.5m over the three-month period. Meanwhile, Cem... |
Gulf Cement sees 1Q loss15 May 2018, Published under Cement NewsGulf Cement has incurred losses if AED2.9m (US$789,653) in the 1Q18, according to a bourse statement. In the equivalent period of 2017, the company reported a AED8.1m profit. The company has attributed the loss to a lower profit margin of 4.5 per cent when compared to 10.3 per cent in 1Q17. Gulf Cement also noted losses from investments at a value of AED7.3m in 1Q18. In the 1Q17 investments generated revenues totalling AED5.5m. |
Uruguay’s ANCAP and Fancap agree over cement production15 May 2018, Published under Cement NewsUruguayan oil company ANCAP and its workers’ union Fancap have come to an agreement to resume cement production at the Minas works. Following a week of talks with support from Uruguayan government officials both sides agreed over operational and minimal roles and security personnel shifts in Minas and Paysandú. |
Argos consolidated EBITDA jumps 31% in 1Q1814 May 2018, Published under Cement NewsArgos has announced revenues of COP1.9trn (US$670m) and a net profit of COP54.bn in the first three months of 2018. EBITDA increased 31 per cent YoY to COP371bn. However, cement sales fell by 4.1 per cent to 3.7Mt while concrete sales volumes fell 7.5 per cent to 2.4Mm 3 . The lower volumes have been attributed mainly to the winter season that affects some US states to a greater extent as well as a large number of holidays in Colombia and the Caribbean. Demand from the housing segment was ... |
Mixed results for Egyptian producers14 May 2018, Published under Cement NewsEgypt’s Alexandria Cement has announced a further consolidated net loss in the first quarter of 2018, which widened 17.1 per cent YoY to EGP34.78m. Furthermore, the company recorded a standalone net loss of EGP71.28m against a net profit of EGP12.63m seen in the year-ago period. Elsewhere, Misr Beni Suef Cement posted a 280.9 per cent YoY rise in net profit to EGP125.9m for 1Q18. Sales saw a significant increase of 77.3 per cent to EGP619.1m, compared to EGP349.1m of the previous year. |
Dewan Cement rejects Mega Conglomerate offer14 May 2018, Published under Cement NewsMega Conglomerate's plan to acquire 87.5 per cent majority stake in Dewan Cement could be over. The deal is thought to have collapsed after Dewan Mohammad Yousuf Farooqui, chairman of the Yousuf Dewan Companies, rejected the offer of Mega Conglomerate to acquire a majority stake in Dewan Cement, reports Pakistan Today. A letter sent on 21 April by Mega Conglomerate Executive Director, Aly Khan, to Mr Farooqui, reveals that the due diligence exercise assessed Dewan Cement's enterprise value... |
Chia Hsin Cement records net profit14 May 2018, Published under Cement NewsTaiwan's Chia Hsin Cement Corp has reported a 21.3 per cent YoY drop in revenue for the first quarter of 2018, falling to TWD471.26m (US$15.8m) from TWD598.48m. However, the company also announced a net profit of TWD152.31m, compared to a net loss of TWD111.32m in the year-ago period. |
Buzzi Unicem hit by poor weather and early Holy Week11 May 2018, Published under Cement NewsBuzzi Unicem's first-quarter turnover declined by 8.4 per cent to EUR539.1m as a harsh winter took its toll in many countries. Net debt at the end of March was 3.9 per cent higher at EUR896.2m, while capital expenditure was increased by 6.3 per cent to EUR52.3m. Cement deliveries eased by 1.6 per cent to 5.1Mt, while group ready-mixed concrete deliveries declined by 6.3 per cent to 2.4Mm³. The Italian turnover improved by 8.3 per cent to EUR103m, thanks to the inclusion of the former Cem... |
Cementir suffers 1Q18 weather effects11 May 2018, Published under Cement NewsCementir's first-quarter turnover declined by 13.4 per cent to EUR242.3m, while adjusting for the Italian operations disposed of, the reduction was a more modest 1.6 per cent. EBITDA improved by 4.7 per cent to EUR24.1m, while at the trading level there was a swing from a EUR0.95m loss to a EUR6.31m profit. Helped by the interest line turning positive, the pretax result went from a EUR6.18m loss to a profit of EUR7.20m. Net debt at the end of March was EUR387.1m compared with the EUR646.4m a... |
Siwertell AB under new ownership11 May 2018, Published under Cement NewsIn a new agreement Cargotec and JCE Invest AB have established a new joint venture, Bruks Siwertell Group (BSG), specialised in dry bulk handling. BSG will own Siwertell AB, which was previously part of Kalmar Business Area within Cargotec, and BRUKS Holding AB, previously part of JCE Group. Both companies are world-leading suppliers of bulk materials handling solutions. Cargotec will own 48 per cent of the shares in Bruks Siwertell Group with the balance of shares owned by JCE Invest AB.... |