Greece: Titan Cement has published its integrated annual report for 2019, a year in which its net profit fell by 5.5% year-on-year to Euro50.9m from Euro53.8m in 2018 and sales rose by 8.0% to Euro1.61bn from Euro1.49bn. The company noted its ‘sustained performance and stronger cash flow generation’ throughout the year, with growing demand in the US and Southeastern Europe and the beginning of growth in Greece, in spite of a 7.0% year-on-year fall in cement volumes to 17.0Mt from 18.2Mt in 2018. Challenging conditions in Egypt and Turkey caused the group’s performance to deteriorate.

Titan Cement said that it is ‘on track to meet the Group’s 2020 sustainability targets and has already met ‘all targets related to emissions and water consumption.’
It acknowledged inevitable ‘short-term impacts’ of coronavirus, including reduced sales volumes ‘particularly and more severely in the second quarter of 2020,’ and has strengthened its liquidity position to Euro400m.

Egypt: Misr Cement Qena has announced its donation of US$127,000 to the government’s Tahya Misr coronavirus rapid response fund. The fund aims to provide unemployed irregular workers with US$31.7/day, increasing the healthcare budget by 75% and providing ventilators to all who need them, as well as equipping hospitals with masks and detergent. Misr Cement Qena chairman Abd al-Fattah Harhour said, “We are very proud to take a leading part in the initiative as part of our ongoing social responsibility towards our country and our people.”

Egypt: Arabian Cement has reported an 88% decline in profit year-on-year to Euro 1.60m in 2019 from Euro13.3m in 2018. Sales were Euro181m, down by 5.5% from Euro 192m in 2018 due to depleted demand. Expansión newspaper called 2019 ‘the worst year in history for Egypt’s cement industry.’

China: The Ministry of Industry and Information Technology has published data showing 94% domestic cement production capacity utilisation in the two-week period ending 10 April 2020, marking an end to coronavirus shutdowns in all provinces. Excavator sales in March 2020 numbered 49,400, up by 12% year-on-year from 44,300 in March 2019. Construction materials analyst Xu Xianchun said, "Demand in the construction industry has basically recovered to 2019's level, driven by new and resumed projects." Xinhua News Agency has reported that cement prices have also climbed on a month-by-month basis.