Spain: Cemex España plans to build a cement import terminal at the port of El Musel in Asturias in northern Spain. Cemex has requested 2491.2m2 of space within the second tranche of the Olano Engineer Dock. It is expected that the installation will be built by June 2020.

The Euro5m facility will have 6000t of cement storage capacity from two 41.1m-high silos with bulk truck loading capacity of 200t/hr and a cement bagging plant with a capacity of 1950bags/hr (25kg).

Colombia: Argos, the cement company of Grupo Argos, reported a 10.6% increase in revenue during the first half of 2019, driven mainly by higher cement volumes in the US and the start of price recovery in Colombia. Its consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 4%.

The company earned US$1.42m in revenue, with a net profit of US$22m, 33.5% higher than in the first half of 2018. Its EBITDA in the US was US$262.4m. Cement shipments were close to 8Mt, 1.2% higher than in the first half of 2018, and concrete dispatches were 5Mm3, a decrease of 2.5% due to the impact of heavy rains in some regions of the US.

“In the first half of 2019 we continued to strengthen our operation and our presence in the United States with the execution of the BEST 2.0 efficiency plan, which, added to the best price dynamics that we began to see in Colombia, allowed us to compensate the pressure we experienced in energy costs,” said Juan Esteban Calle, CEO of Argos. “The significant progress of our divestment plan in non-strategic assets allows us to continue focusing on improving the competitiveness of the company and innovating in products, services and solutions to support the growth of our customers.”

In the US Argos earned revenues of US$781m, 3.5% higher than in the first half of 2018. Its US EBITDA was stable year-on-year at US$108m. Cement dispatches in the US increased by 6.9% to exceed 3Mt, but concrete dispatches decreased by 3.8%, mainly due to heavy rains in the south-central region. The profit in the US was US$11m.

In Colombia revenues during the first half of 2019 were US$352m, 3.3% higher than in the first half of 2018. EBITDA was US$72m, 4% lower year-on-year. Cement dispatches totaled 2.4Mt, a 2.5% reduction. On the other hand, concrete sales remained stable at 1.4Mm3. The company reported that its Argos ONE digital platform continued to give ‘great’ results. From January 2019 to July 2019, 63% of cement and 44% of concrete dispatches were made through this digital platform.

In the Caribbean and Central America, the company highlighted that operations in the Dominican Republic and Haiti continued to be positive, compensating for the challenging political environment that was evident during the period in Honduras and Panama.

In this region, revenues stood at US$286m, a 4.5% reduction year-on-year. EBITDA in this region came to US$79m dollars, 19.8% lower year-on-year. Cement dispatches were 2.5Mt and concrete dispatches were 194,000m3, 1.5% and 3% lower respectively year-on-year.

Austria: RHI Magnesita, a global supplier of refractory products, systems and services, achieved a revenue of Euro1.54bn in the first half of 2019, an increase of 2.2% year-on-year despite challenges in some of its major markets. Its adjusted earnings before interest, tax and amortisation (EBITA) increased by 12.3% to Euro234m from Euro209m, driven by the realisation of a further Euro10m of synergies and the strength of its Industrial Division. RHI Magnesita’s operating free cash flow of Euro129m was driven by EBITA growth.

“I am pleased to announce a robust financial performance in the first half of 2019,” said Stefan Borgas, CEO of RHI Magnesita. “Despite difficult end markets, we have seen a very strong performance from our Industrial Division, offsetting a slightly softer performance from the Steel Division in more challenging market conditions.”

China: China Resources Cement (CRC) has reported lower net profits for the six months that ended on 30 June 2019, largely on falling sales of cement, clinker and concrete amid a slowing Chinese economy. Its net profit was US$481m, compared with US$510m in the first half of 2018. Revenue for the first half dropped by 6.0% year-on-year to US$2.22bn. The company said it will continue to seek partnerships with domestic and overseas companies as it noted that the Chinese economy is facing new downward pressure.

Kenya: East Africa Portland Cement Company (EAPCC) has withdrawn a restructuring and staff rationalisation notice that it had earlier issued. The firm had sought to declare 800 employees redundant, with the aim of trimming its bloated wage bill.

“A replacement notice about the intended company restructuring and staff rationalisation, shall be circulated, in due course,” stated EAPCC’s acting managing director Stephen Nthei.
EAPCC is stuck in negative working capital with obligations maturing within the next 12 months outstripping current assets by US$71m. This potentially makes it difficult to service its short-term obligations.

Nigeria: Dangote Cement has stated that the rate at which consumers are winning valuable prizes in its on-going national consumer promotion, tagged ‘bag of goodies,' is not a gimmick, but a means of giving back to the loyal consumers of its cement products. The response follows criticism that there are too few winners.

At a prize ceremony in Port Harcourt, Aliko Dangote, Chairman of Dangote Cement, stated that the presentation events were proof that the promotion was not a scam. The company is giving out 43 cars around Nigeria as well as other prizes, including televisions. “We value everybody in our value chain – distributors, wholesalers and retailers – and this is our own way of giving back to our consumers,” said Dangote.

Vietnam: Cement and clinker exports from Vietnam are well on track to meet the central target for 2019, with turnover of nearly US$750m generated in the first seven months, according to the General Department of Customs’ statistics.
During the period, 17.3Mt of cement and clinker were shipped overseas.

In the first half of 2019 the country exported 15.6Mt of cement and clinker, which generated revenues of US$667m. This represents a 1.3% rise in volume and 18% rise in value compared to the same period of 2018.

The Vietnam Cement Association attributed the seven-month’s performance to positive demand from the global market and the export prices of cement, which have increased by 15-17% year-on-year. The closure of China’s worst-polluting cement plants and forced campaign operation at many others has created a significant opportunity for Vietnamese firms to increase exports.

The ministry forecasts that overall demand for cement from Vietnam’s cement producers would be likely to increase marginally to 98-99Mt by the end of 2019, comprising 70Mt domestic sales and 28-29Mt in exports.

Argentina: Loma Negra, Argentina’s leading cement producer, saw its net revenue decline by 2% to US$165m in the second quarter of 2019, with its earnings before interest, tax, depreciation and amortisation (EBITDA) rising by 7.1% to US$44m. This was driven by the domestic cement, lime and masonry sector.

Sergio Faifman, CEO of Loma Negra, said, “We are pleased to announce another set of solid results, our business continues to deliver adjusted EBITDA margin expansion based on our constant focus in profitability and cost enhancement initiatives. In this sense, during this quarter we adjusted our production-footprint by reconverting the Barker facility to a grinding and distribution centre, this initiative will let us be a more efficient and agile company. Considering the Argentine context, our business continues to deliver both adjusted EBITDA margin expansion and Net income growth.”

India: UltraTech Cement has reported a 91% rise in its profit for the first quarter of the 2020 fiscal year, to US$170m from US$89m in the first quarter of the 2019 fiscal year. Its net sales were up by 15% to US$1.49bn, despite flat sales volumes. These were 2% higher at 17.86Mt, compared to 17.48Mt a year earlier.

Australia: James Hardie Industries, the world's largest fibre cement producer, highlighted the potential for higher earnings in the 2020 fiscal year, citing an improved performance for its North American fibre cement segment.

The company said it expected full-year adjusted net operating profit to be US$221-248m, compared with US$204m a year earlier.

"Our North America Fiber Cement segment delivered very good volume growth in a down market while generating an earnings before interest and tax (EBIT) margin at the top end of our target range," said CEO Jack Truong in a statement.