Cement News tagged: Corporate
CCNN records 166% rise in revenue for 1H19
The Cement Company of Northern Nigeria has reported a 166 per cent YoY increase in sales revenue for the first six months of 2019, rising to NGN32.1bn (US$88.8m) from NGN12.11bn. However, the cost of production also surged 138 per cent to NGN17.8bn. Profit after tax advanced to NGN7.3bn, compared with NGN2.6bn in the 1H18. In the second quarter of 2019, the company saw a revenue of NGN15.3bn...
Najran Cement narrows net loss in 2Q19
Saudi Arabia’s Najran Cement has narrowed its net loss to SAR2.6m (US$693,333) in the 2Q19, compared with SAR31.7m of the year-ago period. Sales rose 38 per cent YoY to SAR76.3m from SAR55.3m. The company also reported a decrease in the cost of production per tonne of cement and higher prices.
Ciments du Maroc to acquire Atlantic Cement and Cimsud
Ciments du Maroc has announced it has signed an agreement with Anouar Invest for the acquisition of two cement companies, Atlantic Ciment and Cimsud. Atlantic Cement is currently building an integrated cement plant in Settat province. Cimsud has a 0.5Mta grinding unit at Laâyoune. The acquisition is expected to be completed in the second half of this year and is subject to meeting several ...
Ciments de Bizerte posts 5% rise in 2Q turnover
Ciments de Bizerte posted a 4.5 per cent rise in turnover to TND22.4m (US$7.8m) in the second quarter of 2019 when compared with the equivalent period in 2018. Cement production decreased by 4.1 per cent YoY in the 2Q19 to 143,283t. However, clinker output rose 7.3 per cent YoYt to 166,810t. Following completion of annual maintenance work, the company expects a significant rise in production...
Ambuja Cement records 1.2% increase in standalone net sales
India’s Ambuja Cement (LafargeHolcim) has announced a 1.2 per cent YoY increase in standalone net sales to INR57.59bn (US$834m) for the 1H19. EBITDA rose 2.9 per cent to INR11.62bn from INR11.29bn. However, sales volumes fell to 12.19Mt from 12.59Mt. In the second quarter, net sales declined 0.5 per cent to INR29.12bn against INR29.27bn in the year-ago period. However, EBITDA advanced 12.2 p...
Cemex Latin America sees sales fall to US$249m in 2Q19
Cemex Latin America Holdings SA announced consolidated net sales of US$249m in 2Q19, a YoY fall of 11 per cent in US dollar terms or by four per cent in local currency terms. Operating EBITDA reached US$46m in 2Q19, a decline of 28 per cent in US dollar terms or 23 per cent in local currency terms YoY. Domestic grey cement volumes rose by one per cent in 2Q19, while consolidated ready-mix and...
Breedon Group reports 18% revenue increase
UK-based Breedon Group has reported an 18 per cent YoY rise in revenue to GBP447.4m for the first six months of 2019. Pretax profit advanced 30 per cent to GBP39.5m, compared to GBP30.4m in the 1H18. Ready-mix concrete volumes fell five per cent from 1.6Mm 3 to 1.5Mm 3 , but cement sales were up from 0.9Mt to 1Mt in the 1H19. The company also saw aggregate sales climb six per cent to 9.9Mt ...
GCC announces overall increase in sales for 1H19
Mexico's Grupo Cementos de Chihuahua (GCC) has announced a 1.3 per cent YoY increase in sales to US$403.9m for the first six months of 2019, against US$398.8m in the year-ago period. EBITDA declined five per cent to US$109.2m, while the EBITDA margin slipped 1.8 per cent to finish at 27 per cent. The 2Q19 saw a 3.5 per cent YoY rise in sales to US$240.5m from US$232.3m. EBITDA advanced 2.2 p...
Sephaku Holdings CEO to resign
The CEO of South Africa-based Sephaku Holdings, Dr Lelau Mohuba, has informed the company’s board of his intention to resign with effect from 31 December 2019. Dr Lelau was a founding Sephaku Holdings board member and group chairman from 2005-12 until he became CEO in 2012 when the group introduced an independent chairman to comply with the King code.
Udaipur Cement Works sees 56% surge in revenue
India’s Udaipur Cement Works has reported a 56.4 per cent YoY increase in total revenue for the 1QFY19-20 to INR2.02bn (US$29.3m), against INR1.29bn in the year-ago period. Net profit saw a considerable improvement to INR137m in the quarter ending 30 June 2019, when compared with its INR159m loss in the 1QFY18-19.
Medcem Cameroon increases share capital to XAF17.5bn
Medcem Cameroon (Eren Holdings) has increased its capital from XAF400m to XAF17.5bn (US$679,000 to US$29.7m).The increase has created 1.759m new shares with a nominal value of XAF10,000. The Turkish company is the smallest cement producer in Cameroon with a cement capacity of 0.2Mta. It is competing against CIMAF (0.5Mta), Dangote Cement (1.5Mta) and Cimencam (2Mta). Based on production ca...
Giampiero Pesenti passes away
Giampiero Pesenti, honorary chairman of Italmobiliare, passed away aged 88 on 22 July at his home in San Vigilio, Italy. He joined the Board of Directors in 1967, becoming chairman and CEO on the death of his father, Carlo Pesenti, in 1984. From 2014-17 he served as president and later as Honorary President. In 1992 he expanded Italcementi, Italy’s largest cement producer, by acquiring Cim...
Dangote Cement launches Nigerian promotion to boost cement sales
Dangote Cement Plc has launched its 'Bag of Goodies Promo' in Nigeria to increase cement sales. The cement producer is offering scratch cards with every cement bag to give away prizes to its customers and the company is already reporting an upsurge in demand. The first big prize winner emerged in Ibadan, Oyo state, this week and was rewarded with a saloon car for his cement purchase. Dangote ...
Tabuk Cement records 48% sales surge in 2Q19
Saudi Arabia’s Tabuk Cement has reported a SAR9m (US$2.4m) net profit for the second quarter of 2019, against a loss of SAR36.1m in the 2Q18. The company’s sales saw a 48.2 per cent YoY surge to SAR61.2m from SAR41.3m. The average selling price across the quarter also improved.
TCK announces 42% fall in net profit
Bosnia's Tvornica Cementa Kakanj (TCK) has announced that its net profit fell 42 per cent YoY to BAM5.3m (US$3m) for the 1H19, compared with BAM9.1m in the year-ago period. Operating revenue decreased 9.7 per cent to BAM32.2m in the first six months of the year, while operating costs rose 0.8 per cent to BAM26.8m.
UAE cement producers sign cooperation agreement
Al Ain Cement Factory (Arkan Cement Group) and National Cement Factory, owned by Lttihad International Investments, will collaborate on as 'partners of choice' under a new agreement signed by both. The agreement will see opportunities for better clinker supply, and reduced production and logistical costs. Abdulaziz Asad, Arkan Cement's chief operating officer, said the "new agreement is a c...