Displaying items by tag: India
LafargeHolcim consolidated sales and recurring earnings fall in 2020
26 February 2021Switzerland: LafargeHolcim’s consolidated net sales in 2020 were Euro21.1bn, down by 5.6% year-on-year on a like-for-like basis from Euro24.4bn in 2019. The group recorded recurring earnings before interest and taxation (EBIT) of Euro3.35bn, down by 2% from Euro3.74bn. Its cement sales fell to 190Mt, down by 7% from 208Mt. It noted an increase in bagged cement sales in emerging markets.
By region the group reported like-for-like growth in sales and earnings in Asia-Pacific driven by recovery in India and China despite weaknesses in the Philippines and Australia. Earnings rose despite falling sales in Europe, Latin America and North America with a resilient market noted in Central Europe and an ‘outstanding’ year reported in Latin America. Middle East Africa reported falling cement demand and adverse market affects from the coronavirus pandemic, although Nigeria remained buoyant.
Chief executive officer Jan Jenisch said, “2020 was an unprecedented year for everyone, challenging us to be more resilient, while stepping up to take care of those around us.” He added, “This crisis has really proven the resilience of our strategy and business model. By the fourth quarter of 2020 we were back to growth, with a 1.5% increase in net sales and over-proportional recurring EBIT of 14%.” The group completed eight ‘bolt-on’ acquisitions in 2020 and signed an agreement to acquire Firestone Building Products, a producer of flat-roofing systems in the US. It also claimed that, “Every tonne of cement we produced in 2020 was more carbon-efficient and contained more recycled material than the year before.”
Police raid Jagatpur fake cement operation
24 February 2021India: Odisha police have successfully shut down a fake cement operation in Jagatpur. The New Indian Express newspaper has reported that the unit was producing fake cement using various raw materials including marble dust and artificial colours. The unit had reportedly been in operation since as early as 2015.
Assistant police commissioner Amarendra Panda said, “The factory and the go-down have been sealed. The investigation is on to ascertain since when the factory was operational, the source of raw materials and the destinations or shops where the products were supplied. It is also being ascertained whether the owner of the unit is part of a racket engaged in manufacturing adulterated cement.” This is the third fake cement unit uncovered in the city since late 2020.
India: Germany-based Gebr. Pfeiffer has received an order from Aditya Birla subsidiary UltraTech Cement for nine vertical roller mills. The producer plans to install the mills across three newly-built clinker lines. The supplier said, “The cooperation between UltraTech Cement and Gebr. Pfeiffer is based on the understanding of not only being a customer or supplier, but to achieve common goals in partnership.”
ACC and Ambuja Cements renew master supply agreement
19 February 2021India: ACC’s audit committee and board of directors have approved the renewal of the company’s master supply agreement with Ambuja Cements from 2 May 2021 to 2 May 2024. The agreement will continue on its current terms.
ACC grows earnings in 2020 despite coronavirus
17 February 2021India: ACC’s net sales fell by 12% year-on-year to US$1.85bn in 2020 from US$2.11bn in 2019. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 3% to US$341m from US$332m. Cement sales volumes decreased by 12% to 25.5Mt and ready-mixed concrete sales volumes by 36% to 2.3Mm3. The subsidiary of Switzerland-based LafargeHolcim said that its cost efficiency program and working capital optimisation helped it to grow earnings and profits in 2020 despite the coronavirus pandemic.
Vicat’s sales, earnings and net income rise in 2020
16 February 2021France: Vicat recorded full-year consolidated sales of Euro2.81bn in 2020, up by 2% year-on-year from Euro2.74bn in 2019. Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 6% to Euro557m from Euro526m. Consolidated net income rose by 8% to Euro172m from Euro160m.
The group said that organic sales were ‘strong,’ rising in all regions except in France, by 6% in total. It attributed the decline to a near-total shutdown due to the coronavirus outbreak in mid-March 2020, which lifted incrementally throughout the first half of the year. Vicat France’s cement business recovered ‘robustly’ in the second half of 2020, resulting in an operational sales increase of 3% for the year. Full stoppages of activity lasted for 33 days in India and for 30 days in Italy. Despite these challenges, business growth, cost-cutting and lower energy costs drove earnings growth, with ‘very sharp improvements’ recorded in the Americas and in Asia. Additionally, the ramp-up of a new grinding plant in Mali and production performance improvements in Senegal supported a ‘significant’ earnings increase in Africa.
Chair and chief executive officerGuy Sidos said, “Thanks to our employees’ tremendous efforts and commitment, the Vicat group strengthened its position amid the unprecedented current pandemic situation. Our resilience and flexibility allowed us to make organisational changes in order to reconcile our competing imperatives of keeping everyone safe and healthy, unlocking savings and making rapid adjustments, such as relocating our Paris head office to L’Isle d’Abeau in the Auvergne-Rhône-Alpes region. Likewise, we made improvements to Vicat’s governance and stepped up our environmental and digital transformation programmes. Given the strength of our cash generation, we were able to resume key productivity investment programmes for the future. Despite the adversity we faced, our teams across all our various regions successfully delivered higher production efficiency levels and met market demand cost-effectively, paving the way for a solid increase in the Vicat group’s results.”
In 2021, the group plans to expand cement production and invest in new cement terminals in India and to continue with the upgrade of its Ragland cement plant in the US. It also says that it will ramp up projects aimed at meeting its carbon footprint reduction targets. The group expects its earnings to rise at constant scope and exchange rates over the full year.
ACC launches ECOPact concrete in India
16 February 2021India: LafargeHolcim subsidiary ACC has launched its ECOPact range of reduced-CO2 concrete products in Hyderabad and Mumbai. A full nationwide rollout will follow in February and March 2021.
Managing director Sridhar Balakrishnan said, "The innovative manufacturing process of the ECOPact range reduces CO2 emissions by up to 100% and further enhances our sustainable products offerings for the construction industry.”
India: JSW Cement has hired US-based Yalochat to supply software for transactions with trade customers. It says it is among the first Indian cement companies to introduce conversational commerce services to this marketing segment. The software promises to increase the company’s ease of doing business by integrating customer service into transactions via the WhatsApp messaging platform. The producer says that this will help differentiate it as it transitions to 25Mt/yr of production capacity by 2023 from 14Mt/yr.
Managing director Parth Jindal said, "Digital technology is shaping the long-term sustainable growth strategy of all JSW Group businesses. We are in a unique position to deliver integrated home-building solutions to Indian consumers. Our digital transformation will ensure the ease of doing business to our customers through continued improvements in the overall brand experience combined with efficient operations for well-synchronised and timely deliveries."
Dalmia Cement completes new school building in Barunia
12 February 2021India: Dalmia Bharat subsidiary Dalmia Cement has inaugurated a new school building that it has built in Barunia, Odisha. The Orissa Diary newspaper has reported that the work was part of a US$7690 project which also included the refurbishment of two existing classrooms.
Projects executive directorRamawatar Sharma said, "The access to quality education is a basic human right. As a company, we have always believed in providing opportunities to the best of our capacity and helped in laying the foundation for a better life for everyone. We are optimistic that with the renovation of the school infrastructure, the students will feel motivated to attend classes and continue working towards building a better future for them."
India: Denmark-based Hasle has supplied a Hasle D59A coating-resistant castable to Asian Cement for use on the inlet chamber and riser duct at its cement plant. The supplier supervised installation. It said that the castable will reduce the required lining materials of the equipment, resulting in savings.