Cement News tagged: Corporate
Star Cement 1Q net profit drops 24%
India-based Star Cement has seen its net profit decline by 23.7 per cent YoY to INR413.2m (US$5.23m) in the first quarter of FY22-23 (ended 30 June 2022) when compared with a net profit of INR541.8m in the year-ago period. Net revenue increased by 28.7 per cent to INR6.393bn in the 1QFY22-23 from INR5.044bn in the 1QFY21-22. Operating expenses were up by 32.7 per cent YoY to INR5.721bn in ...
EAPCC sees start kiln shell replacement
East African Portland Cement Co (EAPCC) has started the replacement of the kiln shell at its Athi River plant in Kenya. The burning zone of the kiln has been damaged for some time and has led to cement shortages in the market. Due to the high costs of energy and an old clinker line, the board has prioritised efficiency and reliability of our integrated plant operations to drive cost opti...
Dangote Cement's regional volumes fall by 11% in 1H22
Dangote Cement 's pan-African volumes reduced by 11 per cent to 4.9Mt from 5.5Mt in the 1H22 due to increased supply chain challenges and maintenance activities. The best-performing markets for the group were Ethiopia, Senegal and Tanzania. Ethiopia is one of the largest markets for Dangote Cement outside of Nigeria. The market remains short of supply as most plants are operating at...
Calucem plans a US$35m US calcium aluminate cement plant
Specialty cement manufacturer Calucem will enter the US market by developing a US$35m manufacturing facility in eastern New Orleans. Calucem (Cementos Molins group) is the world’s second-largest producer of calcium aluminate cement, a high-performance product applied in a variety of commercial and industrial uses. The project will create 70 direct jobs and the Louisiana Economic Developmen...
Najran Cement sees drop in quarterly profit
Najran Cement Co of Saudi Arabia reported a net profit after zakat and tax of SAR13.3m (US$3.5m) in the second quarter of 2022, down 59.3 per cent when compared with SAR32.7m in the 2Q21. Sales in the 2Q22 declined to SAR108.1m from SAR131.6m in the 2Q21. The drop in profit was attributed to increasing production costs as well as selling and distribution expenses.
Holcim acquires SES insulation and roofing business
Holcim has successfully completed the acquisition of SES Foam LLC, the biggest independent spray foam insulation company in the US with 2022 estimated net sales of US$200m. SES has a track record of double-digit growth, with advanced energy-efficiency and bio-based solutions for new and green retrofitting projects. Jamie Gentoso, global head Solutions & Products: “I warmly welcome all SE...
Iskitimcement produces 0.53Mt of cement in 1H
Russia-based Iskitimcement produced 528,000t of cement in the 1H22, up six per cent when compared with the 1H21. Of this total, CEM I 42.5B cement accounts for 42 per cent, CEM II/A-SH 32.5B cement for 22 per cent, CEM 0 42.5B cement for 13 per cent and cement for road construction for seven per cent. Company sales totalled 515,000t, of which 408,000t was shipped in bulk and the remainde...
Al Jouf Cement appoints new chairman
Saudi Arabia-based Al Jouf Cement has appointed Abdullah Bin Odeh Al-Ghabeen Al-Enezi as chairman. Mr Bin Odeh Al-Ghabeen Al-Enezi succeeds Eng Mohammed Bin Saeed Al-Attiyah.
Orient Cement profit hit by fuel costs
Orient Cement has recorded unaudited revenue from operations of INR7139.3m (US$90.1m) in the quarter ended 30 June 2022. This compares to INR6909m in the same period a year earlier. Total expenses over the same period, however, advanced from INR5558.7m to INR6560.5m, mainly driven by soaring power and fuel costs which advanced from INR1320.8m to INR2286.8m. As a result, net profit for ...
SigmaRoc records revenue of GBP28m in 1H22
SigmaRoc recorded 1H revenue of GBP248m, up 18 per cent over 2021 on an adjusted like-for-like basis. 1H22 underlying EBITDA totalled GBP48m, up six per cent over 2021. The group delivered 1H22 revenue of GBP248m (US$302m), representing an 18 per cent like-for-like increase over the same period last year. First-half EBITDA was GBP48m, ahead six per cent on a like-for-like basis over 1H21...
HeidelbergCement’s Group revenue rises 11% in 1H22
HeidelbergCement Group's revenue rose significantly by 11.3 per cent to EUR9950m (1H21: EUR8938m) in comparison with the first half of the previous year. Excluding consolidation and exchange rate effects, the increase amounted to 11.6 per cent. This is primarily due to successful price adjustments in all business lines, says HeidelbergCement. "The first half of 2022 was characterised ...
Eagle Materials sees record revenue
Eagle Materials has reported 18 per cent YoY growth in revenue to US$561.4m in the first quarter of fiscal 2023 ended 30 June 2022. This record result is being attributed to healthy construction activity in all markets and broad pricing gains across the company’s portfolio. Record net earnings were also seen, coming in up 10 per cent YoY at US$105m, while adjusted EBITDA over the same period a...
CEMEX reports 2Q22 net sales growth of 11%
CEMEX has announced continued solid top line growth, with second quarter net sales growing 11 per cent to US$4080m in the 2Q20. Pricing was the main driver with prices of cement, ready-mix and aggregates increasing 16,12, and 14 per cent, respectively. With a difficult second quarter 2021 comparison base, EBITDA decreased by eight per cent to US$723m, primarily due to higher energy c...
Cementir's 1H22 boosted by Danish results
Cementir' s sales in the 1H22 were led by Denmark, where sales revenue in the 1H22 reached EUR233.3m, up 14 per cent from EUR204.5m in the 1H21, due to sustained demand in all business segments, particularly in cement, and higher sales prices. Cement volumes in Denmark, both grey and white, increased by about 14.5 per cent YoY in the 1H22 due to growth in all major market segments, favour...
Holcim’s Russian assets raided
Holcim has reported a raiding attempt on its Russian assets, according to Kommersant daily and RIA Novosti. Unidentified people have filed documents with the Federal Tax Service to change the structure of the legal entities owned by Holcim. In March, Holcim announced it would leave the Russian market following Russia’s invasion of Ukraine. Now, following the decision of the Leninsky distri...
Andrew Keating leaves CRH
Andrew Keating, previously director of group finance at CRH, has left the company. The former Bank of Ireland chief financial officer joined the building materials company three years ago, reporting to Jim Mintern. Mr Keating reportedly left CRH at the end of June this year to pursue other opportunities, reports The Irish Times.