Cement News tagged under: corporate
Moody's downgrades Votorantim Cimentos' ratings to Ba2, outlook is negative29 February 2016, Published under Cement NewsMoody's Investors Service downgraded Votorantim Cimentos SA's senior unsecured rated debt to Ba2 from Baa3. At the same time, Moody's withdrew Votorantim Cimentos' issuer rating and assigned a Ba2 Corporate Family rating. The outlook was changed to negative. The rating action follows Moody's downgrade on 24 February 2016 of Brazil's government bond rating to Ba2 from Baa3. In addition, Moody's downgraded the country's senior unsecured debt rating to Ba2 from Baa3 and the senior unsecured s... |
Cimpor books major loss in 201526 February 2016, Published under Cement NewsCimpor's turnover declined by 4.3 per cent in 2015 to EUR2492.7m while EBITDA came off by 18.6 per cent to EUR525.7m. The trading profit emerged 30.2 per cent lower at EUR313.3m and the net financial charge increased by 9.3 per cent to EUR406.1m, giving a pretax loss of EUR92.8m compared with a profit of EUR77.3m in the previous year. A EUR12.4m tax credit helped to reduce the net attributable loss to EUR71.2m compared with a profit of EUR27.2m in the previous year. Net debt at the end of... |
Adelaide Brighton reports record revenue26 February 2016, Published under Cement NewsAdelaide Brighton has reported record revenue of AUD1413.1m (US$1017.35m) for 2015, representing a YoY increase of 5.6 per cent supported by cement and lime volumes, improved prices and the contribution of acquisitions made in the second half of 2014. Net profit after tax (NPAT) attributable to members of AUD207.9m for the year ended 31 December 2015. Property contributed AUD34.9m to NPAT on cash proceeds of AUD47.9m. Underlying EBIT, excluding property profits increased 4.5 per cent to... |
Higher cement volumes drive Elementia’s 4Q and full-year revenue growth26 February 2016, Published under Cement NewsMexico-based Elementia reported consolidated revenues for 4Q15 rose by five per cent YoY to MXP4.02bn and by 11 per cent over the full year to MXP15.33bn, mainly due to higher volume sold by its cement division. In line with management expectations, revenues from the cement business for the full year totalled MXP2.37bn, a 36 per cent increase compared to MXP.175bn a year earlier. This was mainly due to price and volume increases of 13 and 20 per cent, respectively, when compared to the sam... |
Cementos Argos reports solid final quarter performance25 February 2016, Published under Cement NewsCementos Argos reported a solid performance in 4Q15, with double-digit growth in consolidated revenues and a significant increase in consolidated EBITDA. The growth resulted not only from increased volumes in most regional divisions but also from a recovery in the USA group area, structural improvements in efficiencies and a well implemented price strategy, the company said. Consolidated revenues in 4Q15 rose 54 per cent compared to the same period of last year to reach COP2.2trn. EBITDA i... |
Pakistan: Pioneer Cement reports earnings of PKR988m in 1HFY1625 February 2016, Published under Cement NewsPioneer Cement Ltd reported first-half earnings of PKR988m (US$9.45m) versus PKR1.292bn a year earlier, translating into a decline of 24 per cent. In a communication to the Pakistan Stock Exchange, the company said turnover rose from PKR3.9bn to PKR4.37bn over the half-year period. Distribution costs climbed to PKR28.15m from PKR25.96m in 1HFY14-15 but financing costs fell to PKR12.74m from PKR33.68m in the comparative period of the previous year. Revenues rose by 11.4 per cent YoY. Pionee... |
Semen Indonesia full-year net profit falls24 February 2016, Published under Cement NewsPT Semen Indonesia Tbk reported an 18.7 per cent drop in 2015 net profit to IDR4.52trn (US$336.56m) versus IDR5.56trn a year earlier. In its financial report published Tuesday, the company's 2015 revenues totalled IDR26.95trn, virtually flat from the IDR26.99trn in 2014 amid sluggish demand. The company's president director Suparni attributed the fall in net profits to the increase in electricity and distribution costs, as well as the depreciation of the rupiah against the US dollar, lo... |
New managing director of PPC Zimbabwe appointed24 February 2016, Published under Cement NewsPPC has appointed Kelibone Masiyane as managing director of PPC Zimbabwe. Following the recent re-deployment of former managing director of PPC Zimbabwe Njombo Lekula as the managing director of PPC's international operations, the country's executive team has been further strengthened through a number of new appointments. "Kelibone's promotion will see him assume overall responsibility for PPC Zimbabwe's business, with his key focus our Harare factory," notes Lekula. "His extensive operati... |
Ethiopia: Messebo in solid AF supply agreement23 February 2016, Published under Cement NewsThe Egyptian Company for Solid Waste Recycling (ECARU), a subsidiary of Qalaa Holdings’ Tawazon, has signed a five-year contract with Ethiopia’s Messebo Cement to supply biomass to gradually replace coal. As stipulated by the agreement between the two companies, ECARU will be the technology and service provider responsible for collecting, transporting and processing local biomass that will be converted to alternative solid fuel. ECARU has been supplying biomass as a source of energy ... |
Vassiliko Cement expects "significant" improvement in 2015 financial results23 February 2016, Published under Cement NewsVassiliko Cement Works Public Co said it expects to show a "significant" improvement in financial results in 2015 compared to the year before. "The upward trend of the first nine months of 2015 continued in the last quarter, the results of which are expected to be even higher," Cyprus' sole cement producer said in a statement. |