13 November 2025

Colombia: Cementos Argos reported consolidated revenues of US$369m in the third quarter of 2025, up by 2% from US$358m in the same period of 2024. Earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$100m, while net income rose to US$75m, compared to US$20m in the third quarter of 2024.

For the first nine months of 2025, revenues totalled US$1.05bn and EBITDA was US$250m. Net profit reached US$177m, compared to US$59m in 2024. Cement volumes increased by 7.5% year-on-year, while concrete volumes fell 8%, partly due to a business model adjustment in Panama.

“These results are a clear demonstration of our strategic discipline and our team’s commitment to creating sustainable value. We maintain an optimistic outlook for the end of 2025 and continue to make steady progress in re-entering the United States market and strengthening our international presence,” said Cementos Argos president Juan Esteban Calle.

In Colombia, quarterly revenues reached US$209m with EBITDA of US$64m. Cement volumes grew 3% to 1.4Mt, while concrete volumes declined by 9%. In the year-to-date, Colombian revenues stood at US$572m and EBITDA at US$158m. In the Caribbean and Central America region, quarterly revenues were US$144m. Cement volumes totalled 1.7Mt, up by 14% year-on-year, with year-to-date revenues of US$421m.

South Korea: Gangwon-do governor Kim Jin-tae visited Halla Cement’s Gangneung Okgye plant on 13 November 2025 to discuss challenges facing the cement industry amid the country’s ongoing construction slowdown. Governor Kim reviewed progress on the government’s US$682m carbon capture and utilisation (CCU) ‘mega’ project, which aims to capture carbon dioxide from cement plants in Gangneung and Samcheok, as well as nearby coal-fired power plants. The captured CO₂ will be converted into e-methanol for eco-friendly ship fuel, lithium carbonate for secondary batteries, and new construction materials.

Kim said that Gangwon-do’s cement production accounts for 63% of nationwide production. He pledged full administrative support to ensure the project passes its preliminary feasibility study, according to local press. Halla Cement’s Okgye plant has only operated three of its four production lines since 2024, each producing 5500t/day of cement, after reducing output due to weak construction demand.

“There have been some concerns over dust and fine particles,” Kim said. “Cement and power companies have voluntarily signed an agreement to reduce emissions by 46%, and a second reduction agreement will be signed this month. As the industry continues its efforts, the province will actively support it by significantly reducing emission charges.”

Indonesia: Indocement said that it has maintained a solid performance through the first nine months of 2025, despite a slowdown in the national cement market. Data from the Indonesian Cement Association (ASI) shows that overall cement demand fell by 3% year-on-year to September 2025, driven by a 10% decline in bulk cement sales, while bagged cement volumes remained largely stable, down by 0.1%.

Indocement’s total cement and clinker sales reached 14.4Mt, representing a 2% year-on-year decrease. Domestic sales dropped by 4% to 14Mt, but exports increased by 124% to 423,000t.

“This positive performance demonstrates Indocement’s business resilience amid challenging market pressures. We continue to focus on maintaining cost efficiency, expanding export markets and strengthening sustainability initiatives and operational innovation,” said Indocement corporate secretary Dani Handajani.

The company expects domestic cement demand to decline by about 2-3% in 2025 due to infrastructure budget cuts and limited consumer purchasing power. However, it remains optimistic about a modest recovery in 2026, forecasting around 1% growth.

Philippines: Holcim Philippines has signed an agreement with Prime Infrastructure Capital for the supply of refuse-derived fuel (RDF) to its cement plants in Bulacan and La Union. Under the deal, Prime Infra’s subsidiary Prime Waste Solutions (PWS) Pampanga will provide RDF produced from plastic waste converted into alternative fuels through co-processing technology, helping Holcim to reduce its reliance on traditional fuels.

Cara Peralta, market sector lead for waste at Prime Infra, said “It is rare to find like-minded organisations such as Holcim willing to partner with us and make investments in sustainable practices like RDF consumption.”

Oman: Raysut Cement has signed an exclusive distribution agreement with Somalia-based Barwaaqo Cement, valued at approximately US$45m/yr. The agreement will remain in effect until 14 September 2026. According to an official statement, the deal is expected to enhance capacity utilisation and improve overall returns.