Cement News tagged: Corporate
Semapa reports 68% climb in profit
Portugal’s Semapa has recorded a net profit of EUR122.2m (US$141.17m) in the first nine months of 2021, up 68 per cent on EUR72.8m in the 9M20. The group’s consolidated turnover rose 4.7 per cent YoY to reach EUR1515.3m, with EUR366.7m contributed by Secil (-3.5 per cent YoY). EBITDA from the cement segment remained largely consistent at EUR107.3m (-0.1 per cent YoY).
Fecto Cement appoints chairman and chief executive
Pakistan’s Fecto Cement has appointed Aamir Ghani and Mohammed Yasin Fecto as chairman and chief executive, respectively, with effect from 1 November 2021. The appointment has been made for a term of three years, according to Pakistan Company News.
Ukraine sees production rise 15% YoY in 9M21
Cement production in Ukraine increased 15.2 per cent YoY in the first nine months of 2021, according to Ukrcement. The association also expects the country to consume more than 10Mt in the full-year for the first time since 2014. "We have production data for nine months and we can predict with slight optimism that this year, for the first time since 2014, we will move to more than 10Mt of cem...
Tokyo Cement Co (Lanka) sees revenue up 4%
Tokyo Cement Co (Lanka) has reported a four per cent YoY increase in revenue to LKR11.88bn (US$58.96m) in the third quarter of 2021. However, net profit fell 94 per cent to LKR127m. The quarter saw the company face a weakening rupee, foreign exchange shortage, which caused a delay in opening LCs, shortages and delays in raw material imports, soaring shipping costs and re-imposed lockdowns. ...
Udaipur Cement receives CRISIL AA/Stable/A1+ rating
Udaipur Cement Works Ltd (UCWL), a subsidiary of JK Lakshmi Cement, has been independently assigned AA/Stable/A1+ ratings to its bank facilities by CRISIL. AA Rating for its entire long-term existing and proposed borrowings and A1+ for UCWL’s short-term borrowing programme. This long-term rating of UCWL, assigned by CRISIL, is on a standalone basis without any Credit Enhancement (CE) s...
HeidelbergCement sees 7% rise in revenue for 9M21
HeidelbergCement has posted a seven per cent YoY increase in revenue to EUR13.996bn (US$16.17bn) for the first nine months of the year, against EUR13.14bn in the year-ago period. The result from current operations before depreciation and amortisation (RCOBD) grew by six per cent to EUR2.896bn from EUR2.731bn. “HeidelbergCement has achieved a good result in the first nine months of 2021. The ...
Vicat posts 9M21 consolidated sales up 4% YoY
Vicat reported consolidated sales in the third quarter of 2021 of EUR794m, up 4.2 per cent YoY on a reported basis and up 19.7 percent at constant scope and exchange rates when compared with the 3Q20. “This performance confirms the strength of the Group’s business trends in a quarter when the basis of comparison was highly unfavourable in France, the Americas and India. Last year, activity i...
Summit Materials posts 3% improvement in revenue
US-based Summit Materials has announced its third quarter results for 2021, recording an 18.2 per cent YoY decrease in net income to US$74.2m from US$90.7m in the year-ago period. However, net revenue improved 2.6 per cent to US$662.3m from US$645.2m in the 3Q20, supported by higher aggregates, ready-mix concrete and cement revenue on continued favourable market demand conditions and price g...
Cementos Molins completes Calucem acquisition
Cementos Molins has successfully closed the acquisition of Calucem, announced in early August, following all regulatory approvals, according to the company. Julio Rodríguez, CEO of Cementos Molins, highlights: “I warmly welcome the Calucem team into the Cementos Molins family. Today marks a new and exciting milestone in the history of Calucem and Cementos Molins and, with this integration, w...
Tabuk Cement sees 11% decrease in profit
Saudi Arabia’s Tabuk Cement has posted a 10.5 per cent YoY fall in net profit to SAR8.48m (US$2.26m) in the third quarter of 2021, compared with SAR9.47m in the year-ago period. Sales also declined 32.9 per cent YoY to SAR48m from SAR71.49m in the 3Q20.
Eagle Materials appoints Mauro Gregorio to its board
USA-based Eagle Materials has appointed Mauro Gregorio to its board of directors. Mr Gregorio is the currently president of Performance Materials and Coatings at Dow, a supplier of innovative solutions in infrastructure and transportation. "Eagle Materials has a strong board with a diverse mix of backgrounds, capabilities and experiences, and today our board is even stronger with the addition...
Martin Marietta sets record revenues in 3Q21
Martin Marietta Materials Inc reported results for the third quarter ended 30 September 2021, achieving record consolidated products and services revenues of US$1.463bn, versus US$1.241bn in 2020. The building materials business produced record products and services revenues of US$1,390.8m, a 17.3 per cent increase, and record product gross profit of US$413.1m, a 7.9 per cent rise. ...
Lafarge Algeria hits 2Mt export record
Lafarge Algeria, part of the Holcim group, has exported 2Mta of cement and clinker for the first time, according to a company press release. The company achieved the volume less than five years after the start of cement exports from Algeria. The 2Mta volume represents a considerable increase from the 1.2Mt of exports achieved in 2020 and puts the company firmly on the way to its 2.5Mt target...
Lafarge Zambia reduces cement price by 5-10%
Lafarge Zambia has reduced the price of cement by 5-10 per cent from 30 October 2021. The price reduction was said to be inevitable due to the appreciation of the kwacha against other major convertible currencies in the past two months, according to the Zambia Consumer Association (ZCA), which welcomed the step. Lafarge Zambia Corporate Affairs and Communication, Sarah Banda, said in a state...
Dalmia Cement plans new 2Mta plant
India’s Dalmia Cement is planning to set up a new 2Mta grinding plant in Bokaro, Jharkhand, according to the state’s government. The company is expected to invest INR5.77bn (US$77.14m) in the construction of the plant, with work scheduled to begin this month and set to be completed within a year.
Star Cement posts 3% revenue increase
India’s Star Cement has posted a standalone net profit of INR229.4m (US$3.07m) in the quarter ending 30 September, falling 39.8 per cent YoY from INR381.2m in the same period of the previous fiscal. However, net revenue saw a modest improvement of 3.4 per cent to INR3.98bn from INR3.85bn.