Cement News tagged under: corporate
Eastern Province Cement first-half net profit falls, Saudi Arabia04 September 2013, Published under Cement NewsSaudi cement producer Eastern Province Cement Company (EPCC) reported a 9.7 per cent reduction in first-half 2013 net profit due to lower sales, higher production costs and maintainance work carried out during the second quarter. EPCC, which operates 3.2Mta of cement capacity from two cement plants, said net profit fell to SAR187m (US$49.9m) compared to SAR207m a year ago. Earnings per share (EPS) stood at SAR 2.17, compared with SAR 2.41. Operating profit in the six months to the end o... |
CRH03 September 2013, Published under Cement NewsCRH's Indian joint venture My Home Industries is acquiring Sree Jayajothi Cements Ltd in Andhra Pradesh (southern India) with a 3.2Mta cement capacity for an enterprise value of €175m. CRH's equity interest will amount to around €35m. This deal will make My Home Industries, which currently has a capacity of 4.8Mta, market leader in Andhra Pradesh. CRH's first-half turnover declined by 3.2 per cent to €8007m and the EBITDA fell by 24 per cent to €397m. The trading profit dropped by 74.7 p... |
Vicat03 September 2013, Published under Cement NewsVicat's first-half turnover increased by 1.7 per cent to €1147.7m, which amounts to a 3.2 per cent improvement on a comparative basis. The EBITDA edged ahead by 0.4 per cent to €201.4m and the margin narrowed only slightly from 17.8 per cent to 17.6 per cent. The trading profit improved by 2.4 per cent to €107m. After a net financial charge 9.8 per cent higher at €21.5m and a 33.8 per cent increase in the income from associates, the pre-tax profit came did improve by 1.3 per cent to €87.7m ... |
Cimpor03 September 2013, Published under Cement NewsCimpor's underlying first-half turnover improved by 19.6 per cent to €1299.8m, while the EBITDA advanced by s more modest 6.3 per cent to €284.2m. Ignoring non-recurring charges, the EBITDA would have been some 19 per cent ahead a €331m, while the improvement on the re-stated last year numbers was 28.1 per cent. On this basis, the trading profit increased by 34.6 per cent to €190.5m, but a jump in the net financial charge from €31.6m to €228m led to a pre-tax loss of €37.5m compared with a €... |
Buzzi Unicem03 September 2013, Published under Cement NewsBuzzi Unicem's first-half turnover declined by 5.7 per cent to €1273.7m and the EBITDA fell by 24.8 per cent to €150.7m. Excluding non-recurring items, the reduction would have been 21 per cent. The first-half trading profit fell by 56.8 per cent to €37.8m and the interest charge was reduced by 31.9 per cent to €47.6m, with the pre-tax result swinging from a €22.6m profit to a loss of €8.3m. After a tax charge more than four times the level of the previous year at €18.3m and a minorities c... |
Cemex03 September 2013, Published under Cement NewsCemex agreed another an assets exchange, this time with Holcim, and on a considerably larger scale. In Spain, Holcim will take a 25 per cent interest in the merged operations, which will become the largest cement producer in the country with a theoretical capacity of just over 16Mta, not all of which is active, with considerable aggregates and concrete operations. Bearing in mind the very sharp drop in Spanish cement demand over the past four years, the deal should facilitate the much-needed... |
Holcim03 September 2013, Published under Cement NewsTurnover declined by 5.1 per cent to CHF9649m, or by 6.9 per cent in euro terms to €7847m. The running EBITDA was 3.4 per cent lower at CHF1819m (€1480m -5.3 per cent). The trading profit eased by 3.3 per cent to CHF1046m (€851m), while the net attributable profit was again improved and rose by 47.4 per cent to CHF571m (€468m). Net debt at the end of June was 9.9 per cent lower than a year earlier at CHF10,958m (€8898m) to give a gearing of 57.1 per cent, compared with 60.9 per cent a year e... |
Lafarge sells Honduras operations to Cementos Argos03 September 2013, Published under Cement NewsLafarge announced the sale of its cement operations in Honduras to Cementos Argos for a total enterprise value of EUR435m, the France-based cement major announced in a statement today. This enterprise value represents a 2012 EBITDA multiple of 8.6. Lafarge owns 53.3 per cent of the Honduran subsidiary, Lafarge Cementos SA de CV. The assets sold comprise an integrated cement plant with a capacity of 1Mta and a grinding station with a 0.3Mta capacity. The transaction is subject to releva... |
Sinoma acquires majority stake in Hazemag03 September 2013, Published under Cement NewsSinoma International Engineering Co Ltd has acquired a majority stake in German mining equipment firm Hazemag & EPR for US$137m. Beijing-based Sinoma bought the 59.09 per cent stake from the Schmidt Kranz Group through a share purchase agreement, according to a statement filed by Sinoma's parent company, the China National Materials Co Ltd. The deal will help Sinoma International expand its reach in mining equipment and has been approved by China's State-owned Assets Supervision and Ad... |
Lafarge Cement Zimbabwe 1H profit slips03 September 2013, Published under Cement NewsLafarge Cement Zimbabwe’s profit for the first half of 2013 fell 3.8 per cent, but the company expects a better performance in the remainder of the year due to cost reduction measures and an improved operating environment. The company said profit after tax in the first six months of 2013 fell to US$2.6m due to lower sales and the payment of retrenchment costs. Revenue for the six months to the end of June 2013 totalled US$32.2m, six per cent less than the US$34.3m posted in the same perio... |