Cement News tagged: Corporate
Votorantim Cimentos achieves consolidated net revenue of BRL7.6bn in 3Q22
Votorantim Cimentos ended the 3Q22 with consolidated net revenue of BRL7.6bn (US$1.25bn), an increase of 19 per cent compared to the same period last year. Consolidated adjusted EBITDA in 3Q22 was BRL1.7bn, up six per cent from 3Q21 and 29 per cent higher than 2Q22. The consolidated EBITDA margin was 23 per cent, an increase of three percentage points compared to 2Q22. The company’s g...
CEMEX validates its new 2030 decarbonisation goals
CEMEX has validated its 2030 decarbonisation goals through the Science Based Targets initiative (SBTi) for alignment under their new 1.5ºC scenario, the most ambitious pathway defined for the industry. The company now has 2030 scope 1 goals of 47 per cent less of CO 2 per tonne of cementitious material than its 1990 baseline and 35 per cent less of carbon content in concrete. For sc...
Mangalam Cement sees power and fuel costs jump 144% YoY
Mangalam Cement Ltd , part of the BK Birla Group , has posted total revenue of INR4083m (US$50.54m) in the quarter ended 30 September 2022. This compares to INR5181m in the previous quarter and INR3839m in the same period a year earlier, according to Dow Jones Newswires. The company has reported a loss of INR271m in the September 2022 quarter, versus a profit of INR280m in the June 2022 q...
Prism Johnson reports 274% drop in profit
India’s Prism Johnson has reported consolidated net sales of INR16,663m (US$203.7m) in the September 2022 quarter, up 10.19 per cent from INR15,095m in the same period a year earlier. Over the same timeframe, the company posted a consolidated net loss of INR662m, down 274 per cent from the profit of INR380m in the same quarter in 2021. EBITDA came in at INR392m in the September 2022 quarter,...
Birla Corporation announces new MD and CEO
Birla Corp Ltd (BCL) has announced the resignation of its managing director and chief executive officer, Shri Arvind Pathak. Mr Pathak, who is leaving the company for personal reasons, will remain in his current position until 31 December 2022. With effect from 1 January 2023, Shri Sandip Ghose will take over the role of managing director and chief executive officer for a period of three yea...
Argos records sales of COP8.5trn during the 3Q22
Argos ( Grupo Argos ) has reported the highest levels of sales and EBITDA in its history, with figures of COP8.5trn (US$302.6m) and COP1.5trn, and increases of 20.7 and 4.3 per cent, respectively. During the third quarter the EBITDA increased 27 per cent and we had an increase of 20 basis points in the EBITDA margin during the period. Regarding volumes, from January to September, Arg...
Titan records consolidated sales of EUR1662m in 9M22
Titan Group's consolidated sales for the first nine months of 2022 reached EUR1661.8m posting a 31.6 per cent increase. Energy costs have seen their highest levels during the early part of the 3Q22. However, the group was able to both increase prices as well as work on improving the energy mix, achieving a higher EBITDA. In the 3Q22 EBITDA recorded a strong increase of 23.9 per cent versus ...
Birla Corporation profits hit by production costs in 2QFY22-23
Even with a double-digit increase in cement sales by volume, Birla Corp Ltd ’s September 2022 quarter (2QFY22-23) profitability was hit by a sharp increase in power and fuel costs. The seasonally weak monsoon quarter meant the company was unable to pass these costs onto the customer, resulting in EBITDA in the quarter falling 51.6 per cent YoY to INR1360m (US$16.7m). Profitability was also...
Nuvoco Vistas reports INR1300m loss in 2QFY22
Nuvoco Vistas Corp reported a INR1300m (US$15.99m) consolidated loss for the July-September quarter (2QFY22-23). The company had reported a loss of INR260m in the corresponding quarter last year. The consolidated cement sales volume for the company improved by 15 per cent YoY to 4.4Mt in 2QFY22-23. Consolidated revenue from operations during the same period improved by 19 per cent YoY to ...
Loma Negra reports 4% revenue growth in 3Q22
Argentina-based Loma Negra has posted a 4.2 per cent YoY rise in revenue to ARS33,942m (US$212m) in the 3Q22. This is mainly attributed to an increase in cement sales along with s strong performance by the company’s concrete and aggregates segments. Consolidated adjusted EBITDA over the same period fell 12.7 per cent YoY in adjusted pesos to ARS7508m but advanced 33.9 per cent YoY to US$6...
Orient Cement Ltd reports loss as costs escalate
Orient Cement Ltd has posted revenue from operations of INR6152m (US$75.5m) in the quarter ended 30 September 2022. This is down from INR7139m in the previous year but up from the INR6161m posted in the same period a year earlier. Meanwhile, the company reported a net profit of INR568m in the quarter ended 30 September 2021, which fell to INR374m in the quarter ended 30 June 2022, and finall...
Ramco Cements' profits hit by rising production costs
Ramco Cements Ltd has reported unaudited standalone revenue of INR17,932m (US$220m) in the quarter ended 30 September 2022. This compares with INR17,793m in the previous quarter and INR15,010m in the same quarter a year earlier. Net profit in the September 2022 quarter came in at INR114.7m, down from INR1122.7m in the previous year and significantly lower than the INR5170.8m reported in the ...
Anjani Portland Cement sees revenue slip and profits tumble
India's Anjani Portland Cement Ltd has reported standalone revenue from operations of INR1068m (US$13.05m) in the quarter ended 30 September 2022, compared to INR1047m in the same period a year earlier. The previous quarter, ended 30 June 2022, saw revenue of INR1106m. Net profit for the September 2022 quarter came in at a loss of INR106.6m, versus a gain of INR68.9m in the same quarter a...
Buzzi Unicem records net sales of EUR3bn in 9M22
Buzzi Unicem reported consolidated net sales in the 9M22 of EUR3004m, up 18.2 per cent compared to EUR2542m in 9M21. Cement and clinker sales of the group, in the first nine months of 2022, reached 21.9Mt, down 6.2 per cent compared to the previous year. Ready-mix concrete sales closed with a more moderate slowdown at 8.8Mm 3 , a fall of 2.8 per cent. Foreign exchange rate variances positive...
Maple Leaf Cement begins Line 4 production
Maple Leaf Cement Factory Ltd (MLCF) has informed Pakistan Stock Exchange (PSX) that an additional dry process clinker production line of 7000tpd grey clinker, a brownfield expansion at the company’s existing site in Iskanderabad , Punjab, successfully started production on 3 November 2022, according to a bourse filing of Company Secretary Muhammad Ashraf. MLCF had signed a contract wit...
CIC-Market Solutions revises up Heidelberg Materials
CIC-Market Solutions has softened its negative scenario post 2022 for Heidelberg Materials . It has raised its 2023 EBITDA projection to EUR3537m (down EUR128m versus 2022E), versus a previous estimate of EUR3439m. This is despite the prospect of falling demand in 2023 in the main European countries (-3 to -10 per cent compared to 2022). CIC-Market Solutions advises that the change in i...