Cement News tagged under: corporate
Vicat06 March 2014, Published under Cement NewsVicat's turnover eased by 0.3 per cent in 2013 to EUR2286m, which translates into an underlying increase of 2.9 per cent on a like-for-like basis. Turnover in cement declined by four per cent to EUR1110m, or EUR1333m before deducting inter-group transfers. Aggregates and concrete sales rose by 6.1 per cent to EUR876m, while other activities saw turnover coming off by 3.4 per cent to EUR300m. Cement accounted for 50.6 per cent of turnover, down from the 52.3 per cent shown in the previous yea... |
CRH06 March 2014, Published under Cement NewsCRH's turnover eased by an underlying 0.3 per cent in 2013 to EUR18,031m while the EBITDA declined by 5.6 per cent to EUR1475m. The trading profit before charging EUR650m of impairments was down by 10 per cent to EUR750m, with European building products accounting for nearly two thirds of this charge. The net interest charge declined by 2.6 per cent to EUR297m and a EUR26m gain on disposals, compared with EUR230m in 2012, gave rise to a pretax loss of EUR215 compared with a EUR646m profit. ... |
HeidelbergCement issues a Eurobond06 March 2014, Published under Cement NewsHeidelbergCement yesterday priced a Eurobond issue under its EUR10bn EMTN programme with an issuance volume of EUR500m and a maturity date of 12 March 2019. The proceeds of the transaction will be used for general corporate purposes. The five-year bond bears a fixed coupon of 2.25 per cent p.a. The issue price is at 98.84 per cent, resulting in a yield to maturity of 2.50 per cent. Joint Global Coordinators of the transaction are Morgan Stanley (B&D) and RBS. Joint Bookrunners of the trans... |
Najran full-year net profit slips, Saudi Arabia06 March 2014, Published under Cement NewsSaudi-based producer Najran Cement posted a slight two per cent decline in net profit for 2013 to SAR198m (US$52.8m) from SAR202m the year before. Earnings per share stood at SAR1.17 compared with SAR1.33 in 2012. The lower bottom line results were attributed to a rise in the cost of sales, Najran said. Operating profit for the year of SAR226m was 7.8 per cent lower than the SAR245m a year earlier. The company has undergone extensive modernisation over the last year with construction of... |
Italcementi approves capital hike, to delist Ciment Francais06 March 2014, Published under Cement NewsItalcementi approved a capital increase for up to EUR450m, and a voluntary public tender offer on all the minority shares it does not already own in French subsidiary Ciments Francais at EUR78/share. The plan, which includes the conversion of Italcementi savings shares into ordinary shares on a conversion ratio of 0.65 ordinary shares for each savings share, is part of efforts to boost and streamline the company's capital structure. Ciment Francais will be delisted from the Paris stoc... |
OYAK Cement full-year operating profit rises 52%04 March 2014, Published under Cement NewsTurkish producer OYAK Cement Group said on Monday its operating profit rose 52 per cent to TRL343m (EUR112m) in 2013. Consolidated sales rose 17 per cent to TRL1.3bn. EBITDA was up 41 per cent to TRL414m in 2013. Under OYAK Cement’s wing are five subsidiaries: Adana Cimento, Mardin Cimento, Bolu Cimento, Unye Cimento and Aslan Cimento. |
Malaysia: CMS pretax profit buoyed by cement division04 March 2014, Published under Cement NewsCahya Mata Sarawak Bhd (CMS) registered a 30 per cent YoY rise in pretax profit to MYR295.27m in 2013, driven mainly by higher earnings from its cement division. The cement segment saw a 46 per cent rise in pretax profit to MYR96.66m mainly due to the successful re-commissioning of its upgraded clinker plant. Commenting on the results, CMS group managing director Dato Richard Curtis said, “For this financial year, significant achievements have been recorded amongst all the core divisio... |
Mexico and Argentina impact 2013 Molins results03 March 2014, Published under Cement NewsThe market contraction in Mexico and a devaluation of the Argentine peso impacted the annual results of Cementos Molins. The Spanish company saw profit fall by 77 per cent to EUR10.1m although this is not comparable with the EUR20m of the previous year as the cement producer sold its stake in Cementos Artigas of Uruguay. Consolidated turnover noted a 9.4 per cent drop to EUR832m. Foreign companies accounted for 80 per cent of Cementos Molins consolidated profits. The Mexican and Argenti... |
HeidelbergCement upgrade28 February 2014, Published under Cement NewsMoody's Investors Service has upgraded the provisional (P)Ba2 MTN ratings and the Ba2/(P)Ba2 ratings on the notes outstanding to (P)Ba1 and Ba1, respectively of HeidelbergCement AG and its subsidiaries. The Ba1 coporate family rating (CFR) and the stable outlook remain unchanged. The upgrade of HeidelbergCement's MTN and bond ratings follows the signing of a new five year EUR3bn revolving credit facility that removes all securities and upstream guarantees contained in the previous facility... |
Oman Cement to obtain a loan to finance new mill project28 February 2014, Published under Cement NewsOman Cement has decided to obtain a loan from a leading Omani bank to finance a new mill at its existing plant with an expected expenditure of US$39m. Jamal Shamis Al Hooti, CEO of the sultanate’s second-largest producer, said: “…while our acceptance to the Bank's offer has been communicated, an agreement in this regard is being finalised.” (Source: Muscat Securities Market) |