Displaying items by tag: Results
China: Hebei Jintaicheng Building Materials Shareholding Co. has ordered a Loesche vertical roller mill from Loesche Mills (Shanghai) to grind granulated blast furnace slag.
Hebei Jintaicheng has ordered a LM 4600CS2 that will produce up to 90t/hr with 4500 Blaine. The mill drive will have a capacity of 3150kW. The contract was signed in December 2011, the components have been delivered and the mill is currently being installed.
Hebei Jintaicheng, a building materials processing private enterprise founded in 2009, is located in the industrial area of Baita County, Shahe City. The company produces and sells ground granulated blast furnace slag. The project has a planned output of 500,000t/yr of ground granulated blast furnace slag.
Cemargos net profit drops 79% in H1 2013
24 July 2013Colombia: Cementos Argos (Cemargos) has reported a year-on-year fall of 79.2% in net profits to US$38.9m for the first half of 2013. The Colombian cement producer attributed the decline to a sale of assets in the first half 2012 that had artificially inflated net profits.
Revenue for the first half of 2013 was US$1.24bn, a rise of 9% from US$1.2bn in the first half of 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 23% to US$261m from US$212m. In the first half of 2013 Cemargos shipped 5.5Mt of cement, a 1% year-on-year increase.
"The results reflect the positive trends being seen in our markets and the strategies of segmentation, price and penetration being implemented," said the company in its financial statement. Cemargos said that columes recovered in Colombia in the second quarter of 2013 and the Caribbean region continued to support growth.
Results from Saudi Arabia
18 July 2013Saudi Arabia: Saudi Cement Company has reported a 5.9% year-on-year increase in its second-quarter net profit. It identified a rise in local demand for cement as among the reasons for the improvement.The company posted a second-quarter net profit of US$81.7m compared to US$77.3m in the same period in 2012. Net profit for the first six months of 2013 was US$172.5m, a 5% rise compared to the first half of 2012.
Meanwhile, Yanbu Cement Co's first-half net profit rose by 44.7% year-on-year to US$138.9m, thanks to higher production and sales volumes supported by the start of its kiln line No 5 in 2012.
TXI posts improved results for 2012-13
17 July 2013US: Texas Industries, Inc. (TXI), the leading cement producer in Texas and a major player in the Californian cement market, has reported financial results for the quarter and year ending on 31 May 2013. Net income for the quarter was US$44.1m. Net income including income net of tax from discontinued operations of US$28.5m. Net income for the quarter ending on 31 May 2012 was US$60.2m
Net income for the year ending on 31 May 2013 was US$24.6m and included a pre-tax gain on the disposition of discontinued operations of US$41.1m. Net income for the year ending on 31 May 2012 was US$7.5m.
"The fourth quarter certainly benefited from the continuing recovery of construction activity in our major markets," said Mel Brekhus, CEO of TXI. "Shipments of all products reflect double digit percentage increases compared to a year ago."
"We also achieved two strategic milestones during the quarter," continued Brekhus. "The commissioning of our 1.4Mt/yr cement kiln at our central Texas plant (Hunter) was finished late in the quarter and we completed the acquisition of 42 ready-mix plants in east Texas. Both events significantly improve our ability to take advantage of the strong recovery under way in Texas."
Kenya: ARM Cement's pre-tax profits for the first half of 2013 have risen by 28% year-on-year to US$11.5m driven by a rise in cement sales, according to Reuters. The Kenyan cement producer has also forecast a strong performance for the second half of 2013.
China cement news in brief
19 June 2013National: China saw cement output increase by 8.9% year-on-year to 866Mt for the first five months of 2013, according to the recent data released by the National Bureau of Statistics. Cement output grew to 224Mt in May 2013, a year-on-year increase of 8.5%.
Regional: Shanghai saw cement output slide by 4.1% year-on-year to 0.77Mt in May 2013, according to the local statistics bureau. However, the municipality's cement output grew by 2.4% year-on-year to 3.05Mt for the first five months of 2013.
Hubei Province, in central China, saw cement output edge down by 0.6% year-on-year to 40.7Mt in the first five months of 2013, according to the Commission of Economy and Information Technology.
Corporate: Asia Cement (China) has said that it has agreed to provide US$68m in loans to Far Eastern New Century (China) Investment Limited from 17 June 2013 to 16 June 2014. The loans will be used for working capital by the borrower.
Jiangxi Wannianqing Cement posted a revenue of US$9.6m from product rebates, government grants and investment returns over the first five months of 2013, according to a company announcement. The company will count the revenue to its total profit for the first half of 2013.
TCL on the up: trend set to improve
19 June 2013Trinidad & Tobago: For the first quarter of 2013, Trinidad Cement (TCL) recorded earnings before interest, tax, depreciation and amortisation (EBITDA) of US$17.8m. The result represented a significant improvement over TCL's results for the same period of 2012. The first quarter 2013 EBITDA represents 74% of its EBITDA for the whole of 2012.
Revenue for the quarter increased by US$18.3m compared with the same period of 2012 as a result of higher cement sales volumes. Volumes increased by 52% in Trinidad & Tobago, by 7% in Jamaica and by 29% in export markets. It was helped by higher selling prices in most markets.
TCL said that, as a result of the significant expenditure made in the latter part of 2012, plant performance has been more reliable and efficient, with clinker production exceeding prior year by 32%. Part of this is due to a prolonged TCL strike in 2012. Cement production was up by 21% year-on-year.
As a consequence of the above factors, TCL has reported a net profit after tax for the first quarter of 2013 of US$$2.22m compared with a net loss of US$11.7m in the same quarter of 2012.
Looking ahead the company says that the Trinidad & Tobago market has recorded very strong demand and it is anticipated that this will continue. While it saw a declining demand trend in Jamaica and Barbados, it is hoped that growth will return to these markets following elections in Barbados and the conclusion of an IMF agreement in Jamaica. In addition, TCL said that the growth being experienced in Guyana and Suriname and the initiatives by the group in the pursuit of additional export markets, plant efficiency and cost containment, are likely to contribute to the continuation of its good results for the coming months.
Cimpor Q1 results benefit from asset swap
29 May 2013Portugal: Cimpor has seen its turnover and earnings before interest, taxation, depreciation and amortisation (EBITDA) grow in the first quarter of 2013, due to the assets brought in from an asset swap with InterCement.
Turnover grew by 22% to Euro636m from the same quarter in 2012. EBITDA rose by 15.2% to Euro147m from Euro128m. The Portugal-based cement producer gained new operations in Argentina, Brazil and Paraguay from the asset swap while it lost assets in Spain, Morocco, Tunisia, Turkey, China and Peru.
Total cement and clinker sales increased by 5.9% to 6.4Mt from 6.1Mt. However, operations that remained with Cimpor suffered a 4.6% drop in sales due to continued demand retraction in Portugal and increased competition from imports in South Africa.
Southern Province profit slides
29 May 2013Saudi Arabia: Saudi cement producer Southern Province Cement (SPC), the nation's largest cement firm by market value, posted a US$71.6m net profit for the first quarter of 2013, down from US$75.8m a year ago. Without providing exact figures, the company attributed the decrease to lower cement prices.
The cement manufacturer registered an operating profit of US$72.7m for the first three months of 2013, down from US$76.8m in the first quarter of 2012.
Hail Cement loss deepens in 2013
29 May 2013Saudi Arabia: Hail Cement has booked a US$3.7m net loss for the first quarter of 2013, more than double the loss of US$1.7m suffered in the first quarter of 2012. Without providing any exact figures, the company attributed the loss to higher expenses related to launching production, coupled with higher salary costs due to the growing number of employees.
Hail Cement, established in 2010, is yet to start commercial production. According to the current plans, this is expected by the end of the second quarter of 2013. In February 2013 Hail Cement said that its rotary cement kiln had started trial production and that the trial operations were expected to take three months.