India: Nuvoco Vistas sold 4.5Mt of cement during the second quarter of its 2024 financial year (FY2024), up by 1.2% year-on-year. Its revenues grew by 7% to US$309m, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 73% to US$40.4m. The producer achieved specific CO₂ emissions of 462kg/t and an alternate fuel (AF) substitution rate of 14%. During the quarter, it completed debottlenecking projects at the Risda, Chhattisgarh, and Nimbol, Rajasthan, cement plants. The company said that these raised its clinker capacity by 2000t/day. It also secured a new patent, for its fibre reinforced cement composition, and introduced its Concreto UNO and Duraguard F2F premium cements on the Jharkhand market.

Managing director Jayakumar Krishnaswamy said “Our value over volume strategy has positively contributed to the company’s performance. Our trade share has increased from 72% in the second quarter of the 2023 financial year (FY2023) to 74% in the second quarter of FY2024. In addition, the results also demonstrate our commitment to managing the dynamic cost environment through an optimised power and fuel mix, between conventional and clean energy sources.” He added “The expansion at the Haryana cement plant is expected to be completed in FY2024, which will enable us cater to strong demand in the Northern India region.”

Nigeria: Lafarge Africa raised its consolidated sales by 7.1% year-on-year to US$367m throughout the first nine months of 2023. Over the same period, the company’s cost of sales rose by 4.4% to US$179m. Its net profit was US$49.9m, down by 13% year-on-year.

Philippines: Cemex Philippines’ sales were US$238m during the first nine months of 2023, down by 15% year-on-year. The Philippine Daily Inquirer newspaper has reported that the company recorded increased costs during the period, although its electricity costs dropped. It implemented cost efficiency measures, but failed to reduce its net loss, which rose by 47% to US$66.5m from US$45.4m.

President and chief executive officer Luis Franco said "In this year of transition for our company, we remain dedicated to finding opportunities to improve our overall efficiency and profitability by proactively managing the variables we can control. I am pleased with the initial progress we have made in the implementation of our efficiency programme and its results in optimising our operations, streamlining processes, increasing supply chain efficiency and improving our energy mix."

Saudi Arabia: Yanbu Cement’s sales were US$156m during the first nine months of 2023, down by 21% year-on-year. Its net profit also dropped in the period, by 35% to US$27.1m.

Mexico: Cemex has refinanced a syndicated credit agreement worth US$3bn. Dow Jones Institutional News has reported that the refinanced agreement includes a US$1bn, five-year term loan and US$2bn five-year revolving credit facility.

Cemex’s chief financial officer Maher Al-Haffar said "We now have a flatter debt maturity profile, with no significant maturities in any year."

Algeria: Holcim Algeria successfully commissioned a new 18,000t/day clinker loader at the Port of Djendjen in late October 2023. The cost of the equipment was Euro3m. APS News has reported that port authorities have ordered two further such machines from China.

Austria: RHI Magnesita says that its sales volumes declined quarter-on-quarter during the third quarter of 2023, with its refractories plants operating at 70% capacity. The company noted ‘under-absorption’ of fixed costs. However it succeeded in maintaining constant earnings before interest, taxation and amortisation (EBITA) levels in line with the second quarter of the year. As such, RHI Magnesita revised its adjusted EBITA guidance for full-year 2023 to Euro380m from Euro360m. It said that its order book visibility is at ‘normal’ levels, with limited signs of a recovery in demand volumes in 2024, as global construction activity continues to be weak.

Chief executive officer Stefan Borgas said “I am pleased by the strong execution demonstrated by RHI Magnesita during difficult conditions for our key end markets. We are currently benefitting from the strategic investments we have made in reducing our cost base and rationalising our production network, together with improved planning and careful management of our assets through this period of weaker demand. Pricing discipline has helped to maintain EBITA margins at over 11%, offsetting the impact of lower production on our fixed cost base. We have also been able to progress our mergers and acquisitions strategy, with six acquisitions completed in the first nine months of 2023 and a total of nine in the past 24 months.

India: Larsen & Toubro recorded sales of US$6.12bn during the third quarter of 2023, up by 19% year-on-year. Its infrastructure projects segment contributed sales worth US$3.36bn, 55% of the total, with an increase in order inflow of 72%. Larsen & Toubro’s net profit grew by 45% year-on-year during the quarter, to US$387m.

US: Solidia Technologies has commenced production of its mineralised CO₂-based supplementary cementitious material (SCM) at a pilot line at its headquarters in San Antonio, Texas. The pilot line increases the company’s production capacity of the SCM by a factor of 25.

Solidia Technologies senior director of strategy and business development Pradeep Ghosh said "With the dramatic increase in production capacity that the new pilot line brings, we are now shipping significant quantities of Solidia SCM to ready-mix concrete producers, transport agencies and contractors to qualify and trial our material."

Spain: Cementos Molins reported sales worth Euro1.08bn during the first nine months of 2023, up by 13% year-on-year from those recorded in the corresponding period of 2022. Meanwhile, the company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 33%, to Euro278m. Its net profit grew by 38% to Euro124m. The producer succeeded in reducing its debt by 76% to Euro34m, compared to Euro1.42bn at the beginning of the year.

Cementos Molins chief executive officer Julio Rodríguez said "Despite the increasing challenges in the global environment, the results for the first nine months of 2023 showcase the strength of our integrated business model, which comprises products and solutions. We are also making significant progress in implementing our sustainability strategy. I extend my personal gratitude to our dedicated and committed team of more than 6200 employees, whose efforts have enabled our growth across our diverse business segments and in most geographical regions.”