Displaying items by tag: Breedon Group

UK: Breedon Group has announced its results for the six-month period ending on 30 June 2024. The company recorded revenues of US$984m, up by 3% year-on-year from US$956m in the same period in 2023. Net income was US$44m, representing a year-on-year decline of 28%. Earnings before interest, taxation, depreciation and amortisation (EBITDA) stood at US$133m, slightly less than US$134m reported previously.

Breedon Group anticipates growth in ‘all of its markets’ from 2025 as economic and political landscapes stabilise.

UK: Breedon Group's sales dropped by 5% year-on-year in the first quarter of 2024, according to a trading update from the company. It attributed this to macroeconomic uncertainty and unfavourable weather conditions in the UK. Sales volumes of its materials ‘softened,’ but prices remained ‘resilient,’ partly offsetting the decline. The quarter brought three new acquisitions, including the company’s first in the US. Two scheduled cement kiln shutdowns took place within budget and on schedule.

CEO Rob Wood said "We have laid good foundations for the remainder of the year: progressing pricing, pursuing efficiencies, completing two bolt-on acquisitions and launching our third platform by entering the US market. Although the economic landscape remains uncertain, I am confident our discipline and focus, coupled with our strong customer relationships, will see us deliver against our unchanged expectations for 2024."

UK: First Graphene has announced a third trial at Breedon Group’s Hope Cement Works to test an optimised formulation of its PureGRAPH-CEM product under full-scale production conditions. The trial aims to further improve the performance of graphene nanoplatelets in cement production using practical experiences obtained from the previous two trials. The third trial is based on a PureGRAPH grade with a particle size distribution and morphology optimised for use in cement grinding mills, designed for direct addition to the mill without the need for additional equipment. The trial will last eight hours and involves close monitoring of cement fineness during the process. It will use just over 2t of the graphene product in up to 1000t of cement, according to the company. The trial is scheduled to start in the second quarter of 2024.

US: Global Cement understands from material published publicly on Breedon Group’s website that the UK-based company acquired ready-mix concrete, aggregates and building products company BMC Enterprises for US$300m on 6 March 2023. This marks the group’s first entry into the US building materials sector. Breedon Group described the acquisition as a ‘compelling opportunity’ in the ‘fragmented and growing’ market. It described BMC Enterprises as a highly attractive, established business upon which to grow a new group platform in the US, in addition to its existing platforms in the UK and Ireland.

Breedon Group CEO Rob Wood said “The acquisition of BMC represents a compelling opportunity for Breedon to launch our third platform. BMC has an excellent performance track record over a sustained period and is positioned in an attractive market for future growth. As a high-quality aggregates and concrete business that has grown at pace, organically and through acquisitions, with a strong management team and deep local knowledge, BMC’s culture and values are fully aligned with the Breedon business model.” Wood added "The acquisition is expected to be earnings-enhancing for shareholders, while allowing Breedon to maintain a conservative and flexible balance sheet to pay dividends and make further bolt-on acquisitions across each of our platforms as opportunities arise.”

UK: Breedon Group recorded a 7% year-on-year increase in revenue of €1.73bn in 2023. Earnings before interest and taxation (EBIT) were €171m, down by 2%.

CEO Rob Wood said “The record results we delivered in 2023 are a real accomplishment and something I am extremely proud of. The challenging trading conditions our team faced required agile and bold responses which they took with discipline and determination.”

UK: Breedon Group grew its sales by 8% year-on-year during the first nine months of 2023. Volumes ‘moderated’ over the period, yet ‘robust’ pricing and operational excellence successfully offset the effects of this on group sales. It generated ‘good’ free cash flow and is on track to deliver a further reduction in covenant leverage at the end of 2023, enabling it to continue its investments in growth. In September 2023, Breedon Group entered the FTSE 250 Index of the London Stock Exchange.

Chief executive officer Rob Wood said “Notwithstanding the market backdrop, the Breedon team continues to deliver and we are delighted to report a trading performance ahead of expectations. Against the uncertain political and economic backdrop, our teams have adapted well to deliver a compelling performance.” He continued “But we never settle – we will continue to seek ways to operate as efficiently and sustainably as possible, invest in our people and grow our business so we are positioned to succeed when the construction materials market returns to growth.”

UK: First Graphene and Breedon Group have entered into a development and commercialisation agreement. Together, the companies aim to enhance Breedon Cement’s CEM II Portland limestone cement (PLC) through the use of First Graphene’s graphene enhanced grinding aids and cement admixtures. Breedon will provide increased access to cement production lines in order to optimise the understanding of the processing environment and operating conditions.

Breedon Group’s Hope cement plant in Derbyshire previously conducted a 24-hour graphene-enhanced cement production trial on 28 June 2023.

US: UK-based Breedon Group says that it is seeking a ‘beachhead’ acquisition from which to build its own building materials business in the Eastern US. CEO Rob Wood said that the top 10 US building materials companies control 40% of the market there, compared to 75% of the UK market being controlled by five leading companies. The Times newspaper has reported that Breedon Group is due to join the UK’s FTSE 250 share index in September 2023. The producer noted the slow progress of proposed reforms to UK building standards, which it says would enable it to reduce its non-fuel CO₂ emissions by 25%. It also said that the government may fail to co-adopt EU emissions trading scheme (ETS) carbon border adjustment mechanism (CBAM) measures, leaving the UK market more open for third-party exporters of cement and other heavy materials.

Wood said “The North American market has big growth opportunities, backed by the certainty of infrastructure investment.”

UK: Breedon Group recorded sales of US$958m during the first half of 2023, up by 11% year-on-year from US$866m during the first half of 2022. The producer’s cement sales rose by 18% in value, despite an 8.3% drop in sales volumes to 1.1Mt from 1.2Mt. Its earnings before interest and taxation (EBIT) fell by 5% to US$80.2m.

It’s been a good week for graphene usage in the cement and concrete industries, with a trial set to take place at Breedon Group’s Hope cement plant and the inclusion of four graphene projects in the Global Cement & Concrete Association’s (GCCA) shortlist for its second second Innovandi Open Challenge.

The trial at the Hope cement plant was scheduled to take place on 28 June 2023, alongside First Graphene, Morgan Sindall Construction and the University of Manchester. The plan was to use 1.2t of First Graphene’s PureGraph product by testing different dispersion methods and dosage rates. The graphene was going to be prepared as a grinding aid and then added to cement grinding mill feed. Dispersion into the cement production line was planned to occur over a 24-hour period using traditional grinding aid dosage lines, with minimal operational or mechanical change required to the existing plant.

The cement produced was then going to be validated by Breedon’s quality control team to assess its performance enhancement. Overall the trial was going to produce around 2000t of graphene-enhanced cement during the trial. This cement will then be passed to Morgan Sindall Construction for real-world construction demonstrations. First Graphene reckoned that the trial was going to produce the largest volume of graphene-enhanced cement manufactured to date.

First Graphene and the other partners haven’t released any information yet on how the trial went. However, the results will be used to build on data obtained from smaller scale trials previously conducted at a concrete processing laboratory in the UK.

Elsewhere, the 15 projects shortlisted by the GCCA, as part of the Innovandi Open Challenge, were set to pitch their ideas for access to the scheme. The benefits of inclusion on the scheme include access to industry plants, laboratories, networks and the expertise and infrastructure of the manufacturer members of the association. 70 applications were made for the second Innovandi round. The first round in 2021 was focused on carbon capture and utilisation and two projects eventually made it to the pilot stage. This time the emphasis is on low-carbon concrete.

The graphene-related contenders for Innovandi in the current round include Nano Crete, Nanospan India, SeaMix and Versarien Graphene. All four companies are promoting concrete admixtures that use graphene. Given the brief for this Innovandi round, these projects are focused on concrete production as opposed to the trial at the Hope cement plant, mentioned above, which is testing graphene addition during cement grinding.

Nanospan India, for example, is promoting its Spanocrete product. It says that its admixture acts as a superplasticizer and accelerator, allowing for reduced cement and water consumption, a shorter curing cycle and an increase in compressive strength. US-based SeaMix (part of MEP Group), meanwhile, has developed its own concrete admixture that uses chopped basalt fibres and graphene. It too offers greater compressive strength and reduced cement consumption for the resulting concrete. However, it also allows for the use of any non-potable water source, a compelling selling point for construction companies trying to minimise the use of drinking water.

It is early days yet for the application of graphene in the cement and concrete sectors. Graphene was first produced at the University of Manchester in 2004. Just under 20 years later and various products are emerging with test projects slowly gathering pace and even commercial applications, such as SeaMix and others, building up their portfolios. Various challenges such as reduced workability, the high cost of graphene or even concerns about simply handling graphene get raised in discussions about the wider adoption of graphene-based admixtures but so far these do not seem insurmountable. We await the outcomes of the trial at Hope and the selections of the second round of Innovandi.

For more on Seamix read the interview with Rey Rubio, the Vice President of MEP Consulting Engineers, in the July - August 2023 issue of Global Cement Magazine