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Spain: FCC’s sales rose by 17% year-on-year to €9.03bn in 2023. Meanwhile, the company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 17% to €1.53bn. The company reported a profit growth of 88% to €591m, following the stabilisation of its main business areas, particularly in cement. The cement business registered a 19% increase in turnover. The business includes Cementos Portland Valderrivas.
CRH sales grow in 2023 01 March 2024
Ireland: CRH reported a 7% year-on-year increase in revenues to US$34.9bn in 2023. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 15% to US$6.2bn. It attributed its earnings growth to favourable weather conditions that facilitated the clearance of work backlogs. Looking ahead, CRH forecasts EBITDA of US$6.55 – 6.85bn in 2024.
CEO Albert Manifold said “Despite continued inflationary cost pressures during 2023 we expanded our margins and delivered further growth in profits, cash generation and returns.”
Tanzania: Huaxin Cement Tanzania Maweni Company has successfully commenced operations at its new Mavini plant. INPR News has reported that the plant will export cement to other countries. This will generate economic growth whilst also creating 1000 new jobs for local people, according to the company.
Hong Leong Asia reports revenues growth in 2023 01 March 2024
Singapore: Hong Leong Asia reported a 5% year-on-year rise in revenue to US$3.03bn and a 19% increase in net income to US$48.3m for 2023. In the second half of the year, the company’s building materials segment raised its sales by 14% to US$256m and more than doubled in profit to US$33.6m. It attributed the growth to its cement and ready-mix operations in Malaysia, which reversed its previous year's losses.
CEO Stephen Ho said "The prices we see in Malaysia now reflect a bit more closely the higher costs of operations. I think we are at a level where profitability starts to kick in for everyone.”
Cementos Molins’ full-year results show growth in 2023 29 February 2024
Spain: Cementos Molins’ revenues were €1.35bn in 2023, marking a 6% year-on-year rise, amid increased cement sales volumes. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 22% to €337m, while its net profit grew by 35% to €151m. The company noted its successes in the face of economic slowdown and supply chain disruptions across its markets.
CEO Julio Rodríguez said “We have achieved record sales and profits in an increasingly complex and uncertain global environment. Moreover, we have once again confirmed the strength of our business model by exceeding our targets.”