Cement News tagged under: corporate
Vinaconex to sell majority stake in Cam Pha Cement01 August 2013, Published under Cement NewsVietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) is in talks to sell its 70 per cent stake in Cam Pha Cement. According to reports by Vietnam News Brief Service, the shares are to be sold to an overseas investor at below the par value of VND10,000/share but no lower than Cam Pha’s book value. Two foreign parties are said to be interested and are expected to put inject cash to restructure the cement producer’s debts. The deal is expected to be concluded this year. ... |
HeidelbergCement raises 2Q13 operating profit31 July 2013, Published under Cement NewsHeidelbergCement, the world’s third-largest cement producer, reported a second-quarter operating profit as it managed to increase prices in its main markets. A rise in demand in Asia, Africa and North America, helped offset a slowdown in parts of Europe. Sales increased by 0.5 per cent in the second quarter to €3799m as successful cement and aggregates price increases had a positive impact on revenue growth in key market regions. Operating income before depreciation (OIBD) improved by 5.6... |
Italcementi's underlying EBITDA fairly stable31 July 2013, Published under Cement NewsItalcementi's first-half turnover declined by 6.2 per cent to €2156.6m and the running EBITDA was down by 10.6 per cent to €298.6m, with the reduction primarily reflecting exchange rate movements and lower income from the sale of emission certificates. The trading profit dropped by 27.1 per cent to €77.4m, and after an 0.9 increase in the net interest charge to €51.8m and a swing into loss from associates, the pre-tax dropped by 61.2 per cent to €21.6m. With a 2.8 per cent increase in the... |
Jaiprakash Associates downgraded, India31 July 2013, Published under Cement NewsTwo brokerages have downgraded Jaiprakash Associates Ltd, days after Deutsche Bank also cut its ratings and earnings estimates for the India-based cement producer. Morgan Stanley has downgraded Jaiprakash to "equal-weight" from "overweight", citing worsening headwinds for cement profitability, a reduced likelihood of the Reserve Bank of India (RBI) cutting interest rates and a lack of asset sales so far to meaningfully reduce debt levels. Citigroup, meanwhile, has cuts the company to "... |
Dr. Michael Mutz to head Aumund cement sales division, Germany31 July 2013, Published under Cement NewsDr Michael Mutz is to take on an overall management role of Aumund Fördertechnik GmbH’s cement sales division, the company has announced in a statement. In April 2012, Dr Mutz took over responsibility of the mineral processing division at Aumund and will now lead the cement division. He will be in charge of sales of both new equipment and retrofits. In the cement sector Aumund is a leading supplier of bucket elevators and belt conveyors. It is also equally active in upgrades and the supp... |
UltraTech first quarter hit by building slowdown30 July 2013, Published under Cement NewsUltraTech Cement, India's largest cement producer, posted a 13.5 per cent YoY decline in its first quarter (April-June 2013), due to slowdown in home building and infrastructure projects. The Aditya Birla group company reported standalone profit of INR6.73bn (US$112.3m) for the April-June quarter. Net sales also declined 2.2 per cent to INR49.58bn. Going forward, Kumar Mangalam Birla, chairman of the group, said the business outlook remained challenging and the company has downwardly re... |
Madras Cement quarterly net profit down 44%30 July 2013, Published under Cement NewsMadras Cement’s net profit for the first quarter of 2013-14 dropped by 44 per cent compared to the corresponding quarter of last year. Net profit for the quarter ended 30 June 2013, stood at INR68.85 crore on a total income of INR 987.18 crore. Expenditure rose by 11 per cent to INR839.70 crore. The company has deposited INR25.86 crore, which is 10 per cent of the penalty levied by the Competition Commission of India for alleged cartelisation, pending final judgment, the release s... |
UltraTech marches on...29 July 2013, Published under Cement NewsDespite the recent challenges being faced by the Indian cement industry, the country’s largest producer, UltraTech Cement, has continued to press ahead with its expansion plans given expectations for long-term domestic demand growth potential. In the last year alone, it has commissioned five cement projects to help meet the country’s infrastructure and housing requirements with new facilities established closer to consumption hubs. UltraTech Cement has employed the best available tech... |
Dangote sees 53% pretax profit rise, Nigeria29 July 2013, Published under Cement NewsDangote Cement plc announced a NGN107.7bn (US$670m) profit before tax for the first half ended 30 June 2013. According to the firm’s six-month financial result released to the NSE, the profit before tax rose by 52.8 per cent compared to NGN70.8bn recorded in the corresponding period in 2012. Gross profit also increased, by 43.8 per cent from NGN91.9bn to NGN132.1bn, while operating profit moved up from NGN76.4bn to NGN111.1bn, indicating an increase of 45.4 per cent. The company saw... |
Cementir improves first-half margins29 July 2013, Published under Cement NewsCementir's turnover improved by 2.2 per cent to EUR472.4m (US$627.6m) during first half of the year as improvements in the Far East, the Americas, Norway and Turkey more than compensated for lower volumes in Italy and Denmark. The EBITDA improved by 10.8 per cent to EUR62m while the depreciation and impairment charge was 3.5 per cent ahead at EUR44.3m, leaving the trading profit 34.8 per cent ahead at EUR17.7m. The net financial charge was reduced by 71.1 per cent to EUR2.4m, resulting in... |