Cement News tagged: Corporate
PT Semen Indonesia domestic sales down 6%, export more than double
PT Semen Indonesia’s domestic cement sales dropped six per cent YoY to 2.55Mt in October from 2.71Mt. However, the company saw its export sales rise from 28,302t in October 2015 to 62,829t one year later. For the first 10 months of 2016, domestic sales edged up from 20.93Mt in 10M15 to 21.19Mt. Cement exports rose 15.2 per cent YoY from 419,767t to 483,745t.
ThyssenKrupp Industrial Solutions' CEO resigns
Jens Michael Wegmann informed the Executive Board of thyssenkrupp AG this week that he is standing down as CEO of the Industrial Solutions business area with immediate effect and leaving the company The Executive Board thanked Mr Wegmann for his work at the company. "We thank Jens Michael Wegmann for his outstanding work. With his comprehensive transformation program planets he has strateg...
Magnesita records profits of US$40.1m Jan-Sep 2016
Magnesita Refractários recorded a profit of US$40.1m between January and September 2016. The refractory company's EBITDA was US$115.9m in the period, while the EBITDA margin reached 16 per cent, against 15.6 per cent in the same period of 2015. Net revenue reached US$725m in the year. Magnesita International Chairman and CEO, Octavio Pereira Lopes, highlighted the results achieved in the fac...
Two ratings firms improve gradings for HeidelbergCement
S&P Global Ratings and Moody's have upped their investment ratings for HeidelergCement following the company's 3Q16 results and the Italcementi acquisition. S&P Global Ratings has assigned a BBB-/A-3 company rating to HeidelbergCement. S&P also upgraded the issuance ratings of Italcementi from BB/B to BBB-/A-3. The outlook on all ratings is stable. “We are very happy about the positive rat...
USA: CRH share price rises on Trump's election
CRH's shares shot up by eight per cent on the Irish Stock Exchange (Iseq) yesterday on the back of Donald Trump's US Presidential win adding EUR2bn to the company's market capitalisation, valuing it at EUR26.8bn. CRH's shares soared to a more than nine-year high after Mr Trump confirmed in his acceptance speech that he intends pumping money into US infrastructure projects, including roads, ...
FLSmidth's 1Q-3Q16 revenue down 12%
FLSmidth reported that its interim accounting period for July -September saw revenues of DKK4774m (US$699.7m) down four per cent, while revenues over the longer 1Q-3Q16 period reached DKK12.6bn (US$1.8bn), down 12 per cent on 1Q-3Q15. Order intakes amounted to DKK4133m in the 3Q16m while EBITDA amounted to DKK421m in 3Q16 down two per cent on 3Q15. It was announced in August 2016 that c...
Cementir 9M16 results affected by foreign currencies
Cementir's results for the first nine months of 2016 were down on 2015 mainly because of the depreciation of the major foreign currencies, which had a negative effect of EUR6.3m on EBITDA, claims the Italian company. Sales gains of 1.8 per cent in the Scandinavian countries and Malaysia failed to offset the weakness of the Italian market and other negative effects in Turkey. The depreciation...
Kuwait Cement 3Q profits up 19%
Kuwait Cement posted a 19 per cent YoY growth in profits for the 3Q16. Earnings increased to KWD3m (US$9.9m) in 3Q16 compared to KWD2.55m in 3Q15. However, during the nine month period profits fell seven per cent to KWD15.2m from KWD16.3m in the same period last year. This decline in 9M profit was attributed to a decreased in gross profits by KWD1.45m as well as a decline in investment profit...
India: Orient Cement posts US$4.4m Q3 loss
Orient Cement has recorded a loss of INR294m (US$4.4m) for the quarter to the end of September 2016, CNBC’s Money Control reports. The loss stands in contrast to the same period last year, in which Orient made a profit of INR280m. The current quarter did see revenues rise by 11 per cent to INR4.45bn. “Our markets and plants underwent some difficulty because of monsoon rains. It led to op...
HeidelbergCement sees improved results across the board for 3Q16
In its first results that include the consolidation of Italcementi, HeidelbergCement reported a significant improvement in sales volumes, revenue and operating income in the third quarter of 2016. Cement sales jumped 52 per cent to 33Mt while aggregates volumes advanced 11 per cent to 80Mt and ready-mix concrete deliveries were up 29 per cent to 12Mm 3 . In terms of deliveries, demand rose ...
India: Ramco sees 45.6% increase in 2QFY16-17 net profit
Ramco Cements reported a 45.6 per cent rise in net profit to INR2.07bn in the second quarter ended 30 September 2016 compared to INR1.42bn for the same quarter a year ago. The company’s income increased 13.8 per cent from INR10.32bn in 2QFY15-16 to INR11.74bn in the 2QFY16-17.
Bolivia’s Morales signs off 1.3Mta cement works plan
President Evo Morales authorised the construction of a US$306m cement plant in Potosí, Bolivia. The new 1.3Mta works will be built in Cutara, near Karachipampa, near an important limestone deposit. Around US$245m is earmarked for the actual plant while the remainder will be spent on complementary services such as electricity, gas, roads and the installation of potable water.
Dangote Group to spend US$20bn on investments by 2020
Dangote Group is planning to invest over US$20bn (NGN630.5bn) and engage over 200,000 additional workers in various projects to impact the Nigerian and African economy by 2020. While most of its output comes from four plants in Nigeria, Dangote Group Executive Director, Mansur Ahmed, said there were several other cement works in various other African countries. "We have grown in terms of...
India: demand set to rise in Telangana and Andhra Pradesh
Manufacturers in the southern Indian states of Telangana and Andhra Pradesh have said that they expect cement demand to increase by around 20 per cent over the next 2-3 years, reports The Hindu newspaper. “The ongoing infrastructure projects in the two states along with government demand for welfare schemes are expected to drive growth for next two-three years,” said S Sambasiva Rao, execut...
Sumitomo Osaka Cement reports 4.4% rise in 1H net profit
Sumitomo Osaka Cement Co saw a 4.5 per cent YoY fall in revenues from JPY115.65bn (US$1.11bn) to JPY110.44bn in the first half ended 30 September 2016. While its pretax profit also decreased over the one-year period, from JPY11.25bn to JPY10.43bn, the company was able to report a 4.4 per cent YoY rise in net profit from JPY7.67bn to JPY8.01bn in April-September 2016. For the full-year ...
Cimentos de Moçambique increases prices 5-10%
Cimentos de Moçambique, Mozambique’s largest cement producer, has raised its prices by 5-10 per cent. The lowest price rise recorded in the company’s two plants in Matola, southern Mozambique. The price of a 50kg bag of cement rose from MZN347 (US$4.49) to MZN364. In the northern port of Nacala, price increases were higher, from MZN390 to MZN429/50kg bag, while at the central Mozambican ...