Cement News tagged: Corporate
BUA Cement posts 9.7% rise in net revenue in 1Q23
BUA Cement reports its net revenues rose by 9.7 per cent to NGN106.4bn for the quarter from NGN97bn (US$209.7m) in the same period a year ago. BUA Cement’s 1Q23 revenue per tonne increased by 18.5 per cent to NGN66,250/t from NGN55,904/t in the 1Q22. EBITDA declined by 2.8 per cent to NGN45bn from NGN46.3bn in the 1Q22. Earnings were offset by increases in raw materials, higher ...
UltraTech Cement Ltd recognised by BSC International Safety Awards
UltraTech Cement Ltd’ s five integrated units, one bulk terminal and one grinding unit have been recognised by the British Safety Council (BSC), winning awards for excellence in safety at the prestigious 65 th BSC International Safety Awards, 2023. The event to recognise the winners in India was held in Mumbai on 10 May 2023. UltraTech’s integrated unit at Dhar Cement Works , as wel...
Verder Group acquires Formulaction SA
Gerard Meunier, CEO of Formulaction (left) and Andries Verder, owner of the Verder Group (right) The Verder Group has acquired Formulaction SA of France. As part of the group’s Scientific Division Formulaction will be integrated into Microtrac MRB, a leading manufacturer of particle characterisation systems. Formulaction is a recognised innovator in the field of laboratory ...
Titan reports a robust 1Q performance
Titan Cement International SA saw a “very strong start to the year” with first-quarter 2023 sales up 29.3 per cent YoY to EUR588.1m, driven by increased demand in some key markets due to mild weather conditions and good pricing performance. EBITDA saw a 131 per cent jump to EUR107.1m when compared with a low-base 1Q22. The margin expanded due to sales growth, cost performance reflecting th...
Loma Negra 1Q net profit sees 19% drop
Loma Negra , part of InterCement do Brasil , posted net sales revenues of ARS40,590m (US$197m) in the 1Q23, up 2.9 per cent YoY, on the back of good top line performance of concrete and aggregate segments that offset a drop in cement revenues. Consolidated adjusted EBITDA reached ARS10,636m, down 19.7 per cent YoY in adjusted pesos, while in US dollars it reached US$63m, up 5.8 per cent Yo...
Cementos Pacasmayo 1Q net profit down by 5%
Revenues of Peru-based Cementos Pacasmayo SA declined 8.6 per cent YoY to PEN480m (US$131.4m) in the first quarter of 2023. "The intense rains that hit the north of the country, produced by Cyclone Yaku, affected the company's operations, especially in February and March. The foregoing was offset by the increase in average cement and concrete prices compared to 1Q2022," according to a repo...
Taiwan Cement reports 9% increase in April revenues
Taiwan Cement Co reported revenues of TWD9.1bn (US$296.4m) in April 2023, up 9.4 per cent from TWD8.319bn in April 2022. In the first four months of 2023 the company saw its revenue advance by 13.4 per cent to TWD35.462bn from TWD31.265bn in the 4M22.
Heidelberg Materials reports strong 1Q revenue growth
Heidelberg Materials announced a 13.4 per cent YoY increase in revenues (adjusted for scope of consolidation and exchange rate effects) to EUR4896m in the first quarter of 2023. During the quarter sales volumes declined as a result of the economic downturn linked to lower construction activity, especially in residential construction, due to inflation and increased financing costs. In particu...
Cementir posts 1Q23 revenue of EUR414.8m
Cementir ’s revenue totalled EUR414.8m in the 1Q23, up 14.5 per cent from the 1Q22. EBITDA reached EUR81.2m, a 33.8 per cent YoY advance while profit before taxes totalled EUR63.9m, a rise of 50.7 per cent when compared with the 1Q22. Meanwhile, net debt stood at EUR32.1m at 31 March 2023. Operating costs rose by 2.8 per cent to EUR342.5m when compared to EUR333.1m in the 1Q22. The cost o...
Argos reports record 1Q23 operating EBITDA
Argos recorded an operating EBITDA of US$127m in the 1Q23, the highest achieved in a first quarter in its history and 41.3 per cent higher than in the 1Q22. Regarding consolidated revenues, it earned US$721m, representing a growth of 11.9 per cent compared to the previous year. Net profit closed at US$25m, while the leverage index stood at a level of 3.1 times, with a slight increase compa...
SCG reports domestic cement sales of THB50,800m in 1Q23
SCG reported its operating results for the 1Q23, showing a recovery across all business units, with increased sales and profits boosted by the revival of tourism and China’s border reopening. SCG’s total assets as of 31 March 2023, amounted to THB923,725m (US$27,414m), of which 44 per cent represented assets in ASEAN (excluding Thailand). The Cement-Building Materials segment recorded ...
Prometheus Materials appoints Director of Product Management
Prometheus Materials team welcomes Leo Atencio as its new Director of Product Management. Leo is a leader in sustainable design products and sustainable construction with over 25 years of experience in the building materials industry. He has successfully developed and deployed a number of innovative sustainable products and previously worked in aggregates, concrete and precast building materia...
Andhra Cements reports income of INR1m in March 2023 quarter
India’s Andhra Cements Ltd (part of Sagar Cements Ltd ) has reported total income of INR1m (US$12,192) in the quarter ended 31 March 2023, compared to INR1.8m in the same period a year earlier. Total expenses have come in at -INR843.6m giving a profit before exceptional items and tax of INR844.6m for the three-month period. Finance costs over the quarter stood at -INR1096.4m, versus INR446m ...
Attock Cement to sell its 60% share in Iraqi plant
Attock Cement Pakistan Ltd (ACL) is expected to hold an Extraordinary General Meeting (EGM) of the shareholders on 25 May 2023, to consider and, if deemed fit, to pass a resolution of disposal and to enter into a share purchase agreement 18m shares held by the company in its subsidiary, Saqr-Al-Keetan cement grinding unit in Iraq. The grinding plant has a cement capacity of 540,000tpa a...
Orient Cement begins Devapur expansion
Orient Cement (part of the CK Birla Group ) has laid the foundation stone for the expansion of its integrated cement plant in Devapur , Adilabad District, Telangana. The INR20,000m (US$243.6m) project will increase the plant’s cement production capacity from 5Mta to 8Mta. With the expansion expected to provide 4000 new direct and indirect job opportunities, the local Telangana governm...
Osvaldo Ayres new global CEO Votorantim Cimentos, Marcelo Castelli new board member
Osvaldo Ayres Filho, Votorantim Cimentos’ current COO, has been promoted to the position of global CEO of the company. He succeeds Marcelo Castelli, who will become a member of the Board of Directors. Mr Castelli has worked for 26 years at Votorantim SA and became CEO of Votorantim Cimentos in February 2019. Under his leadership, Votorantim Cimentos grew and innovated, made important investm...