Global Cement News
Search Cement News
Cemex’s third-quarter gross profit and operating EBITDA fall 28 October 2019
Mexico: Cemex has reported a gross profit in the three months to 30 September 2019 of US$3.34bn, down by 8.0% year-on-year from US$3.64bn. Its operating earnings before interest, taxes, depreciation and amortisation (EBITDA) were US$1.88bn, down by 11% year-on-year from US$2.11bn in the three months to 30 September 2018. The company stated that lower volumes offset higher sale price in all regions.
China Resources Cement’s nine-month profit falls 28 October 2019
China: China Resources Cement (CRC), China’s seventh-largest producer of cement, has reported a net profit for the nine months to 30 September 2019 of US$739m, down by 4.9% year-on-year from US$775m in the corresponding period of 2018. Its third quarter profit in 2019 was US$259m, down by 1.9% year-on-year from US$264m. CRC attributed the fall to lower turnover and the weak performance of the Yuan compared to the Hong Kong Dollar.
Huaxin Cement shows nine-month net profit boom 28 October 2019
China: Huaxin Cement has reported a net profit of US$680m for the period of nine months to 30 September 2019. This represents a 42% year-on-year increase from US$478m in the corresponding period of 2018. Its operating income over the period grew by 18% year-on-year to US$3.18bn from US$2.69bn. Huaxin Cement made several investments in emerging markets over the period, with its Uzbek plant in Zarafabad set to become operation in December 2019.
Siam Cement Group shares third quarter 2019 results 28 October 2019
Thailand: Siam Cement Group (SCG) recorded a net profit after tax of US$200m in the three months to the 30 September 2019, down by 48% year-on-year from US$388m. It revenue over the period stood at US$3.65bn, down by 9.9% from US$4.06bn in the corresponding period of 2018. SCS’s cement-building materials section fell less dramatically, with nine-month profit attributable to owners down by 6.3% year-on-year to US$0.16m from US$0.15m, and a decrease in sales of 1.7% to US$4.54m from US$4.62m in the corresponding period of 2018.
SCG, Thailand’s largest industrial conglomerate, is planning an initial public offering (IPO) for its packaging subsidiary SCG Packaging. Reuters has reported that proceeds deriving from the listing would ‘be used for domestic and international business expansion.’ The company will remain the major shareholder at 70%.
Asia Cement (China) Holdings grows nine-month profit by over 40% 28 October 2019
China: Asia Cement (China) Holdings has reported a net profit of US$320m in the nine months to 30 September 2019, up by 40.2% year-on-year from US$228m. The company attributed this to steady earnings growth.