Cement News tagged under: corporate
Viettel Group acquires 70% stake in Vietnamese producer13 November 2013, Published under Cement NewsMilitary-run Viettel Group has acquired a 70 per cent stake of Vietnamese cement producer Cam Pha Cement for VND140bn ($6.64m). The 139.8m shares were purchased from Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) at around VND1,000 each, the current book value of the cement firm, the Thoi Bao Kinh Te Sai Gon newspaper reported. Viettel, which holds a 21.3 per cent stake in Vinaconex, will pay Cam Pha Cement’s debts and help the latter restore its manufacturin... |
CRH results broadly in line with last year12 November 2013, Published under Cement NewsIn its autumn trading statement, CRH announced that it expects the EBITDA to be broadly in line with last 2012 numbers, assuming normal weather patterns for the remainder of the year. Depreciation and amortisation charges as well as the net interest charge are forecast to be a little lower than in 2012, though the net debt is expected to be about EUR300m higher. Acquisitions and large capital investments amounted to around EUR660m, of which EUR492m were in heavy building materials, and incl... |
Raysut sales ease in first nine months, Oman12 November 2013, Published under Cement NewsRaysut Cement, the leading cement producer in Oman, reported a rise in pretax profit for the first nine months of 2013, but sales eased due in part to competition from neighbouring UAE. During the Jan-September 2013 period the company reported a 12.6 per cent YoY rise in net profit before tax of OMR21.52m (US$55.9m). Revenue was down slightly to OMR70.18m compared to OMR70.35m in the same period of the year. The company said that competition from the UAE is likely to continue, putting pres... |
Buzzi Unicem performance deteriorates in Italy and Mexico11 November 2013, Published under Cement NewsBuzzi Unicem's turnover for the first nine months declined up by 3.2 per cent to EUR2078.5m and the EBITDA came off by 10.6 per cent to EUR335.8m. The trading profit was down by 16.4 per cent to EUR169.8m, but net financial charges came off by 9.5 per cent to EUR81.4m. After a 37.9 per cent increase in the contribution from associates, the pre-tax profit emerged 18.3 per cent lower at EUR95.0m. The tax charge still rose by 73.8 per cent, though the minorities charge did decrease by 32.9 p... |
Tebessa, Ain Kebira and Chlef to go public, Algeria11 November 2013, Published under Cement NewsThe Algerian cement plants of Tébessa, Ain Kebira and Chlef have been selected to go public. In a statement to APS, the president of the Stock Exchange Supervisory and Organising Committee, Abdelhakim Berah, said these GICA factories were among the strongest in the country. For instance, Chlef has the largest production capacity in Algeria. The step indicates a further privatisation of the Algerian cement industry. In 2008, Hadjr-Soud and Sour El Ghozlane started their partnership with ... |
Dangote 3Q revenue rises on strong domestic demand11 November 2013, Published under Cement NewsDangote Cement reported a 28.7 per cent in revenue as demand continues to remain strong in its domestic market of Nigeria. According to the unaudited results, profit before tax (PBT) rose to NGN151.73bn (US$957.9m) compared to NGN106.43bn in 2012, while operating profit rose by 36.4 per cent to N156.89bn. Revenue for the period rose to NGN64bn compared to NGN244.50bn in the preceding year. Commenting on the results, Group Managing Director, Dangote Cement, Devakumar Edwin, said the co... |
Italcementi 3Q13 sees cement sales in North America and Asia rise08 November 2013, Published under Cement NewsItalcementi Group sales for the year to 30 September 2013 reflected an easing in the reduction in volumes, assisted by continuing healthy performance in Asia, the confirmed upturn on the North American market and the slower decline in the EU area. The Group’s key operating results (net of income from the sale of CO2 emission rights) were substantially in line with the first nine months of 2012, despite a particularly negative exchange-rate effect. “Despite the stagnation in demand on the... |
KHD interim report08 November 2013, Published under Cement NewsKHD has released an interim report on business development, its financial position and the general economic scene. It stresses that the global economy remains sluggish, particularly due to weak growth in key emerging economies. On the other hand, some developed economies are generating positive momentum. Business Development In the first nine months of the year, KHD's order intake amounted to EUR82.8m (EUR97.3m without the currency impact), compared to EUR282.9m in the same period ... |
Cementir's pre-tax profit more than doubles08 November 2013, Published under Cement NewsCementir's turnover for the first nine months of 2013 increased by 1.4 per cent to EUR741.4m as higher numbers in the Nordic countries, Turkey and the Far East nor than offset the reductions in Italy and Egypt, but the EBITDA did rise by 22.3 per cent to EUR116m. The trading profit advanced by 65.6 per cent to EUR50.7m. After a net financial charge 20.9 per cent lower at EUR11m the pre-tax profit again more than doubled to EUR39.7m compared with EUR16.7m a year ago. Net debt at the end of S... |
HeidelbergCement doubles Group profit in 3Q1307 November 2013, Published under Cement NewsHeidelbergCement records that sales volumes improved in all business lines compared with the 3Q12, due to the continued recovery of demand for construction materials in Europe and North America as well as the sustained growth in Asian and African countries. During the third quarter, cement and clinker sales volumes increased by 4.1 per cent to 25.3Mt (24.3Mt in 3Q12). The North American operations experienced the strongest growth in sales volumes, followed by Asia-Pacific and Africa-Medite... |