Cement News tagged: Corporate
Joan Molins Amat new Cementos Molins President
Spain-based Cementos Molins has appointed Joan Molins Amat as its new President following the passing of Casimiro Molins Ribot on 25 June. Joan Molins Amat was formerly First Vice-President of the company. The Group's Board of Directors assigned Joaquín Molins Gil as First Vice-President and Ana María Molins López-Rodó on his place as Second Vice-President.
Dangote Cement's 1H17 revenues rise by 41%
Dangote Cement has released its 1H17 results, announcing group revenues of NGN412.7bn (US$1.31bn), up 41.2 per cent, and an EBITDA of NGN203.7bn, up 53.7 per cent. In Nigeria total cement demand reached 10.2Mt in January-June 2017, according to Dangote estimates. This represents a 23.2 per cent contraction when compared with 1H16, when demand was estimated at 13.3Mt. Of total market sales in...
Cemex Philippines reports drop in net income
Cemex Philippines saw its net income fall by 69 per cent in the 2Q17 to PHP136.5m (US$270m) from PHP436.1 in the same period of 2016 as demand softened and cement prices eased. In a disclosure to the stock exchange, the company reported a 12 per cent decline in sales to PHP5.6bn, while cost of sales fell three per cent to PHP3.3bn. Gross profit was down 22 per cent to PHP2.3bn. Sales v...
HeidelbergCement Bangladesh records profit fall in 1H17
In the second quarter of 2017, HeidelbergCement Bangladesh saw sales fall to BDT2.791bn (US$34.6m) from BDT3.114bn in 2Q16. Warehousing, distribution and selling expenses fell from BDT112.2m in 2Q16 to BDT110m in 2Q17 while administrative expenses increased from BDT130.8m to BDT131.8m over the period. Net profit declined from BDT508m in April-June 2016 to BDT361.8m in April-June 2017. Fo...
India Cement’s net profit slips as demonetisation and GST hit
The latent effect of India’s demonetisation, a halt in cement sales ahead of the newly-introduced Goods and Services Tax (GST) roll-out and a severe shortage of river sand in Tamil Nadu, combined to put pressure on India Cements Ltd (ICL)’s profit in the April-June 2017 quarter. ICL’s profit after tax decreased to INR264.4m (US$4.12m) in the first quarter from INR439.8m in the year-earlier ...
CRH plc establishes a euro commercial paper programme
CRH plc has announced it has established a euro commercial paper (ECP) programme, under which its wholly-owned subsidiaries CRH Finance DAC and CRH France (UK) plc may issue from time to time unsecured short-term euro commercial paper notes through appointed dealers up to a maximum aggregate amount outstanding at any time of EUR1.5bn. The notes will be guaranteed by CRH plc and sold to inve...
Titan 1H17 turnover reached €773.8m up 6.9%
Τitan Group's 1Q17 results saw consolidated turnover was EUR773.8m (US$905.4m), posting a 6.9 per cent increase compared to the 1H16. EBITDA increased by 18.9 per cent, reaching EUR142.1m. Net profit after minority interests and the provision for taxes increased by 51.4 per cent and stood at EUR13.9m, versus a net profit of EUR9.2m in the respective period of 2016. Consolidated turnover for...
Caribbean Cement doubles quarterly profits
The Caribbean Cement Company (CCC) more than doubled its quarterly profits during the April-June quarter 2017, reports the Gleaner. Net profit grew to US$606m after tax, over three months, or 174 per cent higher than the similar period a year earlier. "This was achieved through cost-saving initiatives which were implemented, resulting in lower fixed and administrative costs," stated manageme...
Bosnia’s TCK sees 1H net profit edge up
Bosnian cement producer Tvornica Cementa Kakanj (TCK) reported a modest rise in 1H net profit to BAM7.2m (US$4.3m) from BAM7.1m a year earlier. The company’s operating revenue rose 8.8 per cent YoYto BAM32.2m in the January-June period, while operating costs expanded to BAM25m from BAM22.4m in 1H16. TCK is majority-owned by Dutch-based CEEM Investment, which is part of Germany's Heidel...
Holcim Philippines to invest US$54m in the next 2 years
Holcim Philippines Inc plans to invest US$54m over the next two years to increase its capacity to 12Mta to support the government’s flagship infrastructure projects. The company will invest US$54m in the next two years to add 2Mt to its current cement capacity by the first half of 2019, particularly in La Union and Davao," Holcim Philippines President and Chief Executive Officer, Sapna Sood...
Boral bids for 24h mill at Geelong
Australian cement producer Boral has applied to the Australian Environmental Protection Authority to run a 24h grinding mill in Geelong’s north. The new facility at the proposed North Shore site will have a capacity of 1.3Mta. “(The new site) is directly adjacent to the wharf complex, which would allow efficient unloading of clinker from ships,” a Boral spokesman said when the company f...
SCG revises down full-year outlook
Siam Cement Group's (SCG) has revised down its sales growth outlook for 2017 as net profits in cement and building materials fell by 29 per cent YoY in the 2Q17. Speaking to reporters in Bangkok on Tuesday, SCG chief executive, Roongrote Rangsiyopash, said the Thai cement market slowed more than the company expected in the period. Domestic cement sales by volume were down seven per cent YoY ...
Cemex improves net profit strongly
Cemex reported a strong improvement in net profit for the six months to the end of June 2017, but cement volumes eased over the period. First-half turnover was down by 0.2 per cent to US$,703.9m, while EBITDA declined by 6.4 per cent to US$1248.1m.The trading profit, however, improved by 14.2 per cent to US$959.5m while net interest payments increased by three per cent to US$537.5m and the ...
Cemex LatAm sees sharp decline in Colombia
Cemex Latin American Holdings' first-half turnover declined by 4.4 per cent to US$642.8m, while EBITDA fell by 25.8 per cent to US$167.7m as the company saw a sharp decline in the Colombian market. At the trading level there was a 32.1 per cent reduction to US$123.1m. After a net interest charge 9.4 per cent higher at US$32.1m, the pretax profit emerged 50.1 per cent lower at US$82.8m. The...
SIKA achieves record sales
With sales growth of 8.1 per cent in local currency, Sika achieved a new sales record of CHF2994.9m (US$ 3140.4m) in the first half of 2017. Targeted investments in new products, national subsidiaries and factories as part of Sika's growth strategy provided growth stimuli. In the first half of the year, the negative currency effect (-1.4 per cent) reduced sales growth in Swiss francs to 6.7...
Board change at CRH
CRH announced that Maeve Carton, Group Transformation Director, has informed the directors of her intention to retire from the Board and from CRH on 31 August 2017. Since joining CRH in 1988, Maeve held a number of senior financial roles prior to joining the Board as finance director in May 2010. She was appointed group transformation director in January 2016. Group CEO, Albert Manifold,...