Cement News tagged under: corporate
Indonesia: Holcim Indonesia reports 5.3% growth in 9M1601 November 2016, Published under Cement NewsPublicly-listed Holcim Indonesia reported 5.3 per cent sales growth YoY to IDR6.91trn (US$530m) in the first nine months of 2016. The company attributed the performance to a 10.4 per cent increase in its cement sales volume to 6.2Mt. Domestic sales growth stood at less than three percent, with total sales at 44.7Mt. However, as prices remained under pressure, the company continued to note losses, albeit on a smaller scale than in 9M15. Holcim’s net losses in 9M16 fell to IDR160bn from I... |
Pakistan: start-up of second Cherat production line01 November 2016, Published under Cement NewsCherat Cement Factory's Line 2 with a cement capacity of 4500tpd formally started production on 31 October 2016. The construction of the second line began in 2014 and has been completed within two years, said a senior manager at the factory. Cherat Cement is a a Ghulam Faruque Group (GFG) company and its existing 3200tpd line has been operational since 1985. The plant is located at Lakrai village, district Nowshera, Khyber Pakhtunkhwa province. Due to plant’s geographical position in t... |
Indonesia: Semen Baturaja 9M16 net profit down 34% YoY01 November 2016, Published under Cement NewsPT Semen Baturaja announced a near-34 per cent fall in January-September 2016 net profit from 9M15 to IDR174.74bn (US$13.4m) from IDR264.66bn. The drop in net profit was attributed to the rise in the cost of goods at a time when revenues increased only marginally. Revenues in the first nine months of 2016 edged up to IDR1.04trn from IDR1.03trn in 9M15. |
India: ACC reports 10% fall in cement deliveries in 3Q1631 October 2016, Published under Cement NewsThe Indian LafargeHolcim subsidiary ACC Ltd reported a 0.5 per cent reduction in cement deliveries for the first nine months of the year to 17.54Mt, while in the third quarter the reduction was a more notable 9.6 per cent to 5.07Mt. The turnover declined by 3.6 per cent to INR82.74bn (EUR1133.50m) while EBITDA came off by 7.4 per cent to INR11.65bn (EUR159.58m), but the pretax profit rose by 18.6 per cent to INR75.84bn (EUR103.9m). The new 2.79Mt clinker plant and the 1.1Mta grinding... |
Dangote sees 21% rise in revenues, but drop in profit for 3Q1631 October 2016, Published under Cement NewsDangote reported a revenue of NGN442bn (US$1.4bn) for the nine months ended 30 September 2016, representing a 21 per cent YoY increase from NGN365bn in 9M15. Profit after tax fell to NG133bn from NGN157.9bn in 2015, impacted by foreign exchange issues and resulting in a much higher cost of sales, up from NGN138.694bn in 9M15 to NGN231.684 in 9M16. The Managing Director of Dangote Cement, Onne Van der Weijde said the management is confident of delivering strong growth this year despite t... |
Peru: Unacem reports loss of US$1.15m in 3Q1631 October 2016, Published under Cement NewsThe company Union Andina de Cementos (Unacem), one of the two largest companies in the sector in Peru, reporteda loss of PEN3.9m (US$1.15m) in the third quarter due to lower sales due to a fall construction activity. This result compared to a profit of PEN24.7m for Unacem between July and September 2015. Unacem revenues in the 3Q16 amounted to PEN464.6m compared to PEN496.1m in the same period last year. From January to September, the cement company posted a profit of PEN354.5m compar... |
Thailand: SCCC profits shrink31 October 2016, Published under Cement NewsSiam City Cement Co (SCCC) posted a smaller profit for 9M16 as a result of higher financing costs, spending on acquisitions and annual shutdowns. CEO, Siva Mahasandana, said the net sales for 9M16 stood at THB24.8bn (US$708.4m), a five per cent increase from the THB23.7bn registered in the same period of 2015. Net profit fell 16 per cent YoY from THB3.6m to THB3m in the period under review. SCCC recently acquired a Sri Lankan cement manufacturer Holcim (Lanka) Ltd with the deal complet... |
Portland Valderrivas board approves Giant 55% sale to Elementia31 October 2016, Published under Cement NewsThe board of Spain’s Cementos Portland Valderrivas has formally approved the sale of a 55 per cent stake in its US unit Giant Cement Holding to Mexico’s Elementia, owned by Carlos Slim, who owns a 35.6 per cent holding in the Mexican company via his Grupo Carso. The deal includes a US$220 capital increase in Giant with subscription rights granted to Elementia, who will extend a loan of US$305m to the US unit. Giant’s parent company, FCC, has also given the go-ahead. Slim’s holding com... |
Cementir CEO: Italy's cement market has finally reached the bottom28 October 2016, Published under Cement NewsIn an interview with Reuters, CEO and Chairman of Cementir Holding, Group Francesco Caltagirone jr, said "After nine year of contraction of cement output, I think the Italian market has reached the bottom," he said. Domestic producers hit by the crisis could be a buying opportunity, Caltagirone said, adding the right target would have a price tag of no more than "tens in million of euros". A dozen other domestic groups are struggling to survive as output has halved since 2008 in Italy a... |
Cemex' gearing declines to a still high 164 per cent28 October 2016, Published under Cement NewsDuring the first nine months of the year, Cemex' turnover eased by 1.9 per cent to US$10,467.4m, while EBITDA was 8.5 per cent ahead at US$2138.1m. The trading profit advanced by 15 per cent to US$1452.2m while the net interest charge declined by 6.3 per cent to US$888.9m. The pretax profit more than trebled from US$164.7m to US$689.5m. The tax charge declined from 128.4 per cent to 18.2 per cent, leading to a net attributable loss being turned into a US$533.6m profit. The net debt at the en... |