06 March 2015
Votorantim revenue rises by 7% to US$9.3bn in 2014 06 March 2015
Brazil: Votorantim Industrial has reported that its revenue rose by 7% in 2014 to US$9.3bn from US$8.74bn in 2013. Net profit rose to US$600m from US$79.2m. The cement, metals, steel, energy, pulp and agribusiness group attributed the result to high prices in most of its businesses.
Votorantim Cimentos, its cement arm, was responsible for the largest portion of consolidated income. It saw sales volumes decline slightly to 37.1Mt/yr in 2014. Despite this, net revenue grew by 5% year-on-year to US$4.34bn due to higher prices. Notably, its North American operation recorded a rise in sales volume and revenue, driven by the recovery of the US economy.
FLSmidth to supply equipment to Egyptian cement plant 06 March 2015
Egypt: FLSmidth has received two contracts from the Egyptian cement producer Misr Cement Company in Qena for the supply of equipment for a cement plant which was originally supplied by FLSmidth. The equipment to be supplied includes among others an ATOX coal mill, an OK vertical cement mill, Pfister weighing and dosing systems, MAAG Gear reducers and Airtech filters.
"We are very happy to supply this additional equipment to an existing customer with whom we have co-operated since 1999. Our newly established Products & Upgrades group will be responsible for supplying the equipment - an offering which we are currently expanding," commented President of the FLSmidth Cement Division Per Mejnert Kristensen.
Titan reports profit in 2014 06 March 2015
Greece: Titan Group has reported a return to profit in 2014 after two loss-making years. The Greece-based cement producer has reported a profit before tax of Euro46.8m up from a loss of Euor9.4 in 2013. Turnover rose by 2.7% to Euro1.16bn from Euro1.13bn. However, earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 2.6% to Euro182m from Euro168m. Titan attributed the turnaround to continuing recovery in the US, improvement in the Greek market and better performance in Turkey and Southeastern Europe. Despite this, gas shortages in Egypt hit results negatively.
By region, Titan Group saw demand for building materials in Greece grow in 2014 due to low levels in 2013 and the re-launch of a road building campaign. The company reported that utilisation rates at its cement plants in Greece depend on exports to countries with low energy costs and no constraints on carbon dioxide emissions. Total turnover for the Group's Greece and Western Europe region in 2014 increased by 14% to Euro285m. In Southeastern Europe construction activity remained subdued. Turnover fell by 3.5% to Euro208m in 2014.
The US led turnover, supplying over one-third of the Group's total turnover. Sales were led by high growth rates in Florida. Turnover rose by 14% to Euro469m in 2014. In Egypt cement demand grew by 2.4% in 2014 but gas shortages and permit application delays for alternative fuels reduced production and shrunk plant utilisation rates below 50%. Turnover fell by 22% to Euro197m although imports helped cushion profit margins.
Development activities in 2014 saw an investment in solid and alternative fuels particularly in Egypt. The first solid fuels grinding mill was brought on stream at the Beni Suef cement plant at the end of 2014.