Cement News tagged under: corporate
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... |
Cementos Portland Valderrivas reduces losses29 July 2013, Published under Cement NewsSpain’s Cementos Portland Valderrivas cut losses by nearly 99 per cent to EUR0.6m (US$0.8m) despite a sharp decline in domestic cement demand. In the 1H12, the company had made losses of EUR48.6m. Valderrivas also swapped assets with Ireland’s CRH in 1H13, which provided capital gains of EUR104.8m. Valderrivas chairman and CEO José Luis Sáenz de Miera said: “Results for the first half reflect efforts last year to reduce costs in Spain, where demand continues to shrink, and to improve e... |
HeidelbergCement India notes INR80m 1Q13-14 loss29 July 2013, Published under Cement NewsHigher input costs as well as a rise in fuel and power costs pushed HeidelbergCement’s Indian subsidiary into the red. The company reported a loss of INR79.5m (US$1.34m) for the first quarter ended 30 June 2013 in a BSE filing. In the equivalent quarter of last financial year, the firm had reported a INR192.7m net profit. However, HeidelbergCement India saw 1QFY12-13 income from operation rise to INR3.668bn from INR3.0744bn in 1QFY12-13. Meanwhile, total expenses shot up from INR2.7... |
India’s JK Cement reports 55% drop in 1QFY13-14FY29 July 2013, Published under Cement NewsJK Cement reported a 55 per cent drop in its net profit at INR310m (US$5.22m) for the quarter ended 30 June 2013 as a result of lower realisation and higher input costs. In the corresponding quarter of the previous year, the company had posted a profit of INR690m. Total income from operations also fell 10 per cent from INR7.37bn to INR6.61bn. EBITDA margins contracted from 21.47 per cent to 15.55 per cent. |
India’s JK Cement reports 55% drop in 1QFY13-14FY29 July 2013, Published under Cement NewsJK Cement reported a 55 per cent drop in its net profit at INR310m (US$5.22m) for the quarter ended 30 June 2013 as a result of lower realisation and higher input costs. In the corresponding quarter of the previous year, the company had posted a profit of INR690m. Total income from operations also fell 10 per cent from INR7.37bn to INR6.61bn. EBITDA margins contracted from 21.47 per cent to 15.55 per cent. |
China National Building Materials (CNBM)26 July 2013, Published under Cement NewsShares in CNBM fell by three per cent earlier this month amidst speculation that China will be forced to expand its property curbs. As prices of new homes continued to rise in 63 out of 70 of China’s leading mainland cities, the government is expected to impose new tightening measures to help rein in the market. China has also recently announced a mini-stimulus package designed to reduce costs for exporters and provide funding for railways. However, along with the package came news that a... |
PT Indocement26 July 2013, Published under Cement NewsCement producer PT Indocement Tunggal Prakarsa is planning to increase its cement prices in response to a rise in subsidised fuel prices. The fuel price increase, which is the first in five years, will see petrol rise from 45 cents to 65 cents per litre and diesel from 45 cents to 55 cents per litre. According to the Indonesian government, the fuel subsidies are a significant drain on the country’s budget accounting for US$20.2bn, nearly four per cent of total economic output. As a compar... |
Anhui Conch Cement Co26 July 2013, Published under Cement NewsEarlier this month, Anhui Conch Cement Co helped China’s stocks surge with its biggest two-day gain in 18 months. Shares in the cement producer rose by more than seven per cent over the two-day rally, which was the biggest since January 2012. A week later, Anhui’s shares jumped to a five-week high as reports revealed that FDI in China rose to a record US$14.39bn in June. In a bid to boost the economy even further, China announced a mini-stimulus package in the last week of July. Despite ... |
Cementos Argos26 July 2013, Published under Cement NewsCementos Argos has reported a nine per cent rise in revenue in 1H13, up to US$1.24bn compared to US$1.2bn in 1H12. EBITDA over the same period increased by 23 per cent to US$261m. In 2Q13 alone, EBITDA jumped 32 per cent to US$129m, compared to the same period last year. Net profits, however, have fallen by 79.2 per cent YoY to US$38.9m in 1H13, mainly due to inflated profits in the same period last year following the sale of assets. Cement dispatches rose by one per cent to 5.5Mt in 1H13 an... |
PT Semen Indonesia26 July 2013, Published under Cement NewsPT Semen Indonesia has increased its market share to 43.7 per cent, up from 39.6 per cent this time last year. In 1H13, sales volumes increased to 12.24Mt, up by 18.5 per cent on the same period in 2012. The company aims to increase its market share to 44 per cent and achieve sales volumes of 28Mt by the end of the year. The company has announced plans to spend up to IDR20trn (US$2bn) between 2013 and 2017 increasing capacity to 40Mta. This year alone, IDR2trn has been set aside for inve... |