Cement News tagged: Corporate
Mangalam Cement posts record quarterly profit
India’s Mangalam Cement has reported a record net profit of INR330m (US$4.66m) for the quarter ending 30 June, following an INR150m net loss in the year-ago period. Operational revenue surged 31 per cent YoY to INR3.33bn from INR2.55bn, while the EBITDA margin improved to 20.4 per cent from 1.9 per cent.
Sharjah Cement sees 85% drop in profit for 1H19
UAE-based Sharjah Cement has seen an 84.7 per cent YoY fall in profit to AED2.54m (US$691,626) for the 1H19, compared with AED16.55m in the year-ago period. The company also reported an 8.5 per cent decline in revenue to AED291.43m from AED318.48m. In the 2Q19, profits slipped 60.2 per cent to AED1.74m from AED4.37m. Revenue decreased 5.1 per cent to AED138.31m, against AED145.81m in the 2Q...
Loma Negra reports fire at L'Amalí plant
Argentina’s Loma Negra has reported that a fire broke out in an auxiliary building of the second line at its L'Amalí plant, Olavarría, last Thursday night. The line is still under construction, however the cause of the incident is yet to be determined. The company has noted that no significant impacts are expected and the plant will operate normally to serve its customers, according to a pre...
Buzzi Unicem reports strong 1H EBITDA
Buzzi Unicem's first-half turnover improved by 13.6 per cent to EUR1518.7m and EBITDA rose by 26.9 per cent to EUR288.6m. Group cement deliveries improved by 7.1 per cent to 13.9Mt, but ready-mixed concrete deliveries eased by 0.5 per cent to 5.8Mm³. The first-half results include a EUR12.3m non-recurring benefit arising from the first time adoption of IFRS 16. The depreciation and impairme...
JK Cement reports 212% increase in net profit
India’s JK Cement has reported a 211.8 per cent YoY increase in standalone net profit for the quarter ending 30 June, rising to INR1.53bn (US$21.86m) from INR493.2m. Net revenue of the company rose 19 per cent to INR132.7bn from INR111.5bn. During the April-June quarter, operating expenses advanced 6.1 per cent to INR102.4bn from INR9.65bn. However, operating profit surged 102 per cent to INR...
Arabian Cement Co signs petcoke supply deal
Egypt’s Arabian Cement Co has signed an agreement with Egyptian Refining Co, a subsidiary of Qalaa Holdings, for the supply of 272,155t of petcoke. "This agreement aligns with Arabian Cement Co’s efforts to reduce production costs, and highlight our leading market position in implementing projects and signing agreements with key industry partners," said Sergio Alcantarilla, CEO of ACC. Acc...
Kuwait Portland Cement sees slight fall in 2Q19 profit
Kuwait Portland Cement has noted a 0.7 per cent YoY decline in profit for the 2Q19 to KWD1.52m (US$5m), compared with KWD1.53m in the corresponding period of last year. However, the company’s net profit for the first half of the year increased 3.2 per cent to KWD5.57m from KWD5.4m, according to a statement to the Boursa Kuwait.
ECEBOL’s Oruro plant inaugurated
On Saturday, 3 August, Empresa Pública Productiva de Cementos de Bolivia (ECEBOL) inaugurated its new Oruro plant in presence of Evo Morales, Bolivia’s president. “The cement factory we have, is the most modern in South America, is in Caracollo; a huge satisfaction" and "our cement factory is inaugurated, an expected dream maybe 50 or 60 years in the department of Oruro," said the President ...
Siam City Cement Vietnam signs US$468m investment agreement with Kien Giang province
Kien Giang province has signed an investment cooperation agreement with Siam City Cement Vietnam, part of the Thailand-based Siam City Group, for a cement plant in Kien Luong district. The agreement represents an investment of VND10.89trn (US$468m) for both a limestone and clay mining project as well as a clinker line.
Qassim Cement sees 2Q profit rise
Saudi cement producer Qassim Cement reported a net profit after zakat and tax of SAR70.5m (US$18.8m), a 383 per cent increase YoY, when net profit reached SAR18.4m, according to Reuters. Second-quarter sales surged from SAR88.1m in the 2Q18 to SAR154.5m in the 2Q19. The rise in sales was driven by an increase in average selling prices.
Titan Group's 1H19 results bolstered by USA
Titan Group recorded a turnover of EUR785.4m in 1H19, up 10.2 per cent on 1H18. This was attributed to a strong performance in the US market and growth in cement demand in southern Europe, along with a return to modest sales in Greece. EDITDA remained flat at EUR122.2m following challenging conditions in Egypt and Turkey, while group net profit after minority interests and taxes amounted to E...
Vicat sees poorer results in Turkey and Switzerland
Vicat's first-half turnover advanced by 4.6 per cent to EUR1340m but eased by 0.6 per cent on a comparative basis. EBITDA improved by 1.7 per cent to EUR228 while the margin eased from 17.5 per cent to 17 per cent. The trading profit declined by 9.4 per cent to EUR97m, while the net interest charge was EUR6m higher at EUR22m, giving an attributable profit 20.7 per cent lower at EUR46m. C...
CRH to divest European Distribution business to Blackstone
CRH plc has agreed to divest its European Distribution business to private equity funds managed by Blackstone for EUR1.64bn, subject to regulatory approval. The sale includes CRH's entire General Builders Merchant business in Europe, including its sanitary heating and plumbing business. It supplies building materials to professional builders, specialists contractors and DIY customers through ...
Dalmia Bharat reports 192% increase in net profit
India’s Dalmia Bharat Ltd has reported a 192.3 per cent YoY increase in consolidated net profit for the quarter ending 30 June, rising to INR1.52bn (US$21.82m) from INR520m. EBITDA was up 27.3 per cent to INR6.66bn from INR5.23bn. Total revenue advanced 7.1 per cent to INR25.81bn, compared with INR24.11bn in the 1QFY18-19. Cement sales volumes were fairly consistent with the year-ago period ...
Saudi Cement producers profits recover in 2Q19
Saudi Cement posted net income of SAR92.3m (US$24.613m) in 2Q19 and profits were up 59 per cent in the period compared to 2Q18, but declined by 30.3 per cent compared to 1Q19. The company recorded cement sales of SAR338.6m and received average prices of SAR217.6/t. "The YoY increase is mainly attributed to improved selling price and volumetric sales, despite an increase in administrative e...
Gulf Cement Co posts net loss in 2Q19
UAE-based Gulf Cement Co has posted an AED598,270 (US$162,905) net loss in the 2Q19, compared to an AED8.4m profit in the year-ago period. Sales costs increased to AED107m from AED101m. In the first half of 2019, profit saw a considerable decline of 84 per cent YoY to AED856,500. The company attributed the fall to a two per cent decrease in revenue and a 25 per cent rise in general, administ...