Cement News tagged: Corporate
Votorantim Cimentos sees net revenue up 9% in 1Q20
Votorantim Cimentos' financial statement for the period ended 31 March 2020 reported net revenue up nine per cent to BRL2747m (US$494.6m) from BRL2524m in the 1Q19, while adjusted EBITDA fell to BRL232m from BRL586m in the 1Q19. Group cement volumes declined slightly to 6.3Mt from 6.4Mt in the year-ago period. Net revenues in Brazil in 1Q20 rose to BRL1563m from BRL1536m in 1Q19. Positive ma...
CCI approves acquisition of Emami Cement
The Competition Commission of India has approved the 100 per cent acquisition of the total issued and paid-up share capital of Emami Cement Ltd by Nuvoco Vistas Corp. Emami had entered into an agreement for the divestment of its 100 per cent equity stake in Emami Cement for an enterprise value of INR55bn (US$724.83m) in February. The acquisition will bring Nuvoco's total cement capacity in...
Sumitomo Osaka Cement reports 40% increase in profit
Japan’s Sumitomo Osaka Cement has reported a 40 per cent YoY rise in net profit to JPY10.92bn (US$101.63m) for the fiscal year ending 31 March 2020, compared with JPY7.8bn in the FY18-19. Sales were down 2.4 per cent to JPY245.1bn from JPY251.06bn, but operating profit advanced 13.8 per cent YoY to JPY16.1bn in the FY19-20. The company’s profit was reportedly supported by its cement and ...
JK Lakshmi Cement sees 151% increase in net profit
India’s JK Lakshmi Cement has reported a 150.5 per cent YoY increase in net profit to INR986.3m (US$13.04m) in the final quarter of FY19-20, against INR393.8m in the corresponding quarter of the previous fiscal. However, the company’s revenue from operations was down 11.1 per cent YoY to INR11.37bn from INR12.79bn in the 4QFY18-19. The company has attributed the results to an improved produ...
Ciments du Maroc sees turnover down 10% in 1Q20
Ciments du Maroc (HeidelbergCement) reported a 9.9 per cent YoY drop in cement sales volumes in the first quarter of 2020 as the coronavirus pandemic affected the market. The company’s turnover declined 9.8 per cent YoY to MAD869m. Investments in the 1Q20 reached MAD14.8m, up 43.4 per cent when compared with the 1Q19.
Cemex announces organisational changes
Cemex has made several immediate appointment changes and changes at senior positions in the company. Jose Antonio Gonzalez, Cemex's current executive vice president of finance and administration, has been appointed executive vice president of strategic planning and business development. Maher Al-Haffar, current vice president of investor relations, corporate communications and public affai...
UltraTech Cement Ltd records net sales of INR105.8bn in 4QFY19-20
UltraTech Cement Ltd (Aditya Birla Group) announced its financial results for the 4Q and full year ended 31 March 2020. 4QFY19-20 Consolidated net sales reached INR105.8bn (US$1.39bn) vis-à-vis INR121.7bn in the corresponding period of the previous year. Profit before interest, depreciation and tax was at INR26.4bn versus INR26.72bn in the year-ago period. Profit after tax was INR32.43bn c...
BUA Cement reports 48% rise in revenue in 2019
Nigeria’s BUA Cement has reported a 47.5 per cent rise in revenue to NGN175.52bn (US$452.35m) for 2019, compared to NGN119.01bn in the previous year. EBITDA also surged 47.2 per cent YoY to NGN81.99bn from NGN55.7bn, while its EBITDA margin remained flat at 47 per cent. However, profit after tax was down 5.4 per cent YoY to NGN60.61bn in 2019, attributed to an NGN26.76bn tax credit given in ...
Huaxin Cement acquires ARM Cement's Tanzanian unit
The Tanzanian unit of Kenya's ARM Cement has been sold to China's Huaxin Cement, according to its administrator PricewaterhouseCoopers. Huaxin is expected to invest US$116m into Maweni Limestone Ltd to settle liabilities and another US$30m to complete a plant construction and upgrade. "Securing a suitable investor with the ability to make the requisite investments and inject much-needed ...
Taiheiyo Cement reports 4% fall in net sales for FY19-20
Japan’s Taiheiyo Cement has seen a 3.5 per cent YoY fall in net sales to JPY884.35bn (US$8.21bn) in the FY19-20 ending 31 March 2020, compared to JPY916.07bn in the previous year. Operating income was also down 7.6 per cent YoY to JPY61bn in the FY19-20, while net income declined 9.9 per cent to JPY39.15bn from JPY43.45bn.
Taiwan Cement expects stronger 2H20
Taiwan Cement Corp gave a positive outlook for its core businesses this quarter as the cement market appears to have emerged from the shadows of the COVID-19 pandemic in China. Chinese construction started to resume in March and appeared to have mostly returned to normality last month, bolstering the company’s selling prices and output in the current quarter to levels similar to the same per...
Saurashtra Cement 1Q20 net profit rises to INR66.2m
Saurashtra Cement reported a net profit of INR66.2m (US$0.87m) in the quarter ended March 2020 as against a net loss of INR55m in the year-ago quarter ended March 2019. Sales rose 10.2 per cent to INR1.76bn in the quarter ended March 2020 from INR160.61bn in the previous year's equivalent quarter. For the full year ended March 2020, net profit reported was IBR565.1m against net loss of INR49...
Paraguay sees unexpected uptick in demand
Paraguay-based Industria Nacional del Cemento (INC) saw an unexpected surge in demand between 4-8 May 2020 with average sales of 79,755 bags/day as distribution companies collected a backlog of deliveries and bought extra volumes as they anticipated the easing of lockdown measures. INC had to buy 40,000t of imported clinker recently, according to Esmerk Latin American News. In April 2020 sal...
Udaipur Cement Works records 207% surge in EBITDA
India’s Udaipur Cement Works has reported an 18.4 per cent increase in total income to INR6.85bn (US$90.2m) for the financial year ending 31 March 2020, compared with INR5.79bn in the FY18-19. EBITDA surged 206.7 per cent YoY to INR1.26bn from INR410.9m. The company’s net profit also reached INR155.2m from an INR407.3m net loss in the previous fiscal year.
Hoffmann Green Cement Technologies appoint Ile-de-France region promoter
Hoffmann Green Cement Technologies, a low-carbon cement producer, thas announced the appointment of François de Gliniasty as Technical and Commercial Promoter for the Ile-de-France region. François de Gliniasty, 45, has over 25 years of experience steering business promotion, sales and logistics strategies. As Technical and Commercial Promoter, François de Gliniasty’s mission will be to get ...
Boral announces new measures to control inventory levels
The chief executive of Australia’s Boral Ltd, Mike Kane, has commented on the reduction of new orders in the Australian and US construction industries, and also announced new measures to stop the build-up of inventory levels in this environment. The company will now close its Berrima cement kiln in New South Wales (NSW) for three weeks in June, as Mr Kane noted it was not possible to run a ...