17 March 2022

Greece: Titan Cement recorded Euro1.71bn in net sales in 2021, up by 6.7% year-on-year from Euro1.61bn in 2020. The company attributed the boost to higher demand and ‘supportive pricing’ in all of its regions. Cement sales volumes were 18.3Mt, up by 7% year-on-year from 17.1Mt. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 4.6% to Euro272m from Euro286m, due to an ‘unprecedented’ second-half costs increase. The group’s net profit was Euro89.6m, compared to Euro1.1m in 2020. During the year, Titan Cement increased the digitisation of its cement production and continued its on-going share buyback programme. Its Scope 1 and 2 CO2 emissions declined by 4% year-on-year, in line with its 2030 target trajectory.

Titan Cement said “Having already achieved the 2025 targets for energy efficiency and zero waste-to-landfill certification, the group’s attention is now focused on empowering business ecosystems to incorporate sustainability considerations in their decision making. To ensure that key suppliers meet the group’s environmental, social and governance (ESG) standards, Titan Cement developed a sustainable supply chain roadmap and published the first Titan Group Procurement Policy.” In the coming year, the group plans to ‘continue to harness the advantages offered by decarbonisation, digital transformation and business model innovation to benefit our customers, employees, suppliers and communities, aspiring to deliver to society carbon-neutral concrete by 2050.’

India: Shree Cement has fired up the kiln of a new clinker line at its Raipur cement plant in Baloda Bazar, Chhattisgarh. The Business Standard newspaper has reported that the company funded the project, involving the reactivation of the Raipur plant’s Kiln 3, from its internal accruals. It has also installed a new waste heat recovery (WHR) plant alongside the kiln. The line will augment Shree Cement’s supply of clinker to its grinding plants in Eastern India. It hopes thereby to contribute to growth and development in Chhattisgarh and beyond.

France: Lafarge France has announced a total planned investment of Euro46m in upgrades to its 1.6Mt/yr Saint-Pierre-la-Cour, Mayenne, cement plant and its 1.2Mt/yr La Malle, Bouches-du-Rhone, cement plant. The Holcim subsidiary will invest Euro40m to convert the Saint-Pierre-la-Cour plant to low carbon cement production. Meanwhile, it will invest Euro6m in the La Malle plant’s conversion to ultra-low carbon cement production. The L’Usine Nouvelle newspaper has reported that the transitions will complement the company’s strategy of over 25% EcoPact reduced-CO₂ ready-mix concrete sales by 2025.

Ireland: CRH says that it completed another phase in its on-going share buyback programme on 16 March 2022. The group purchased US$300m-worth of shares, bringing its total cash returned since the beginning of the programme in May 2018 to US$3.2bn. On 17 March 2022, it concluded an agreement to begin the purchase of a further US$300m-worth of its shares by 27 June 2022. The producer instructed investors that any decision in relation to any future buyback programmes will be based on an ongoing assessment of the capital needs of the business and general market conditions.

New Zealand: Holcim Australia and New Zealand plans to establish a new low carbon cement import and distribution facility next to its existing cement terminal at Ports of Auckland. The company says that the facility will have the capacity to replace 100,000t/yr of ordinary Portland cement (OPC) used in New Zealand. In 2021, the country consumed 1.6Mt of cement, generating 1.3Mt of CO₂ emissions.

CEO George Agriogiannis said “I’m pleased Holcim Australia and New Zealand is progressing to the building phase of a facility that will import and distribute low carbon cement replacement products. Once operational, the site will enable the reduction of carbon emissions via a cement replacement which can be used for applications such as infrastructure, commercial and residential projects.” He concluded “This initiative is a positive step toward the New Zealand government’s Zero Carbon ambitions and Holcim’s Net Zero climate pledge.”