Displaying items by tag: GCW583
Highest ever sales for Cementos Argos
10 November 2022Colombia: Cementos Argos has reported record sales and earnings before interest, tax, depreciation and amortisation (EBITDA) in the first nine months of 2022. Sales for the period reached US$1.73bn, with EBITDA reaching US$306m. In terms of shipments, Cementos Argos delivered 12.3Mt of cement, 2% less than in the first nine months of 2021. It delivered 5.8Mm3/yr of concrete, a year-on-year rise of 9%.
Juan Esteban Calle, president of the company, said "We are excited to deliver positive results to our shareholders that show that the strategies we are implementing, in terms of deleveraging, efficiency, network integration logistics and price recovery, are bearing fruit. Amid strong inflationary pressures in all markets, we were able to expand profitability and margins versus last year."
During the third quarter of 2022 the company saw revenues of US$414m in the US market, an increase of 23% compared to the third quarter of 2021. Its EBITDA in the US for the quarter increased by 26% to US$77m. It said that 'solid' demand helped it to increase cement sales volumes by 6% to 1.6Mt, while concrete sales rose by 4% to 1.1Mm3.
In its native Colombia, revenues reached US$143m, a year-on-year increase of 11%, with EBITDA at US$32.1m. During the three-month period, cement shipments remained stable, while the concrete business has continued its sustained recovery, supported by infrastructure and formal housing projects. The company highlighted that exports from Cartagena grew by 37% to reach 319,000t, the highest quarterly figure in the company's history.
In the Caribbean and Central America revenues rose by 8% year-on-year in the third quarter of 2022 to reach US$136m, with EBITDA stable year-on-year at US£31m. However, cement shipments decreased by 13% to 1.0Mt. Cementos Argos said that this was partly due to serious social disruption in Haiti, as well as a change of government in Honduras and scheduled maintenance in the Dominican Republic. However, the company saw a 59% increase in concrete shipments to 77,000m3.
Semen Indonesia’s sales revenue falls slightly so far in 2022
10 November 2022Indonesia: Semen Indonesia’s revenue fell slightly to US$1.61bn in the first nine months of 2022. Its total sales volumes of cement fell by 13% year-on-year to 26.2Mt from 30Mt in the same period in 2021. Domestic and regional sales fell by 6% to 21.9Mt and by 37% to 4.3Mt respectively. The group’s earnings before interest, taxation, depreciation and amortisation (EBIDTA) rose slightly to US$365m. It said that its cost of goods rose by 1.6% to US$1.14bn, driven by a 12% increase in fuel and energy costs. It added that its coal purchase price increased by 42% in the reporting period but that the company managed to secure its coal supply in the second and third quarter of 2022 at the local Domestic Market Obligation capped price.
Strong third quarter drives Titan Group’s sales
10 November 2022Greece: Titan Group says that strong sales in the third quarter of 2022 has driven its performance so far in 2022. Its sales rose by 32% year-on-year to Euro1.66bn in the first nine months of 2022 from Euro1.26bn in the same period in 2021. Its earnings before interest, taxation, depreciation and amortisation (EBIDTA) grew by 7% to Euro235m from Euro220m. It attributed its sales growth to higher sales volumes and higher prices more than sufficiently offsetting growing energy and transport costs. Strong performance was reported in the US and construction market was described as recovering in Greece. Elsewhere, high energy costs were said to be reducing demand in Southeast Europe, market problems in Turkey continued but the group raised its prices and increased exports, saes volumes increased in Egypt and a decline was noted in Brazil.
Cookstown Cement rebrands as Cemcor
10 November 2022UK: Cookstown Cement has rebranded as Cemcor. The company formed in January 2022 following its acquisition of the 0.45Mt/yr Cookstown cement plant from Holcim in January 2022. It then announced investments of around Euro14m towards making environmental and process upgrades at the unit. The company also purchased a limestone quarry in Cookstown, a shale quarry in Dungannon and a terminal at Belfast Harbour.
Catch4Climate to start building oxyfuel pilot unit at Mergelstetten
10 November 2022Germany: The Catch4Climate project says it is ready to build an oxyfuel pilot unit at Schwenk Zement’s Mergelstetten plant following approval by the Stuttgart Regional Council. The project comprises Dyckerhoff, Heidelberg Materials, Schwenk Zement and Vicat, and It has set up a research company called CI4C to run it. Over Euro120m will be invested towards building a dedicated 450t/day production line to test the oxyfuel process. Jürgen Thormann, the Technical Managing Director of CI4C, said that this is the first time a so-called ‘pure’ oxyfuel process will be used for CO2 capture. At a later stage in the project the consortium plans to use the captured CO2 to produce so-called ‘reFuels’, climate-neutral synthetic fuels such as kerosene for aircraft, with the help of renewable electrical energy. Commissioning of the unit is scheduled for mid-2024.
Crown Cement takes out loan to build sixth plant
10 November 2022Bangladesh: The Infrastructure Development Company (IDC) has agreed to loan Crown Cement US$25m to help it build a sixth plant. The new unit will use a vertical roller mill, according to the New Nation newspaper. The IDC is a government-owned non-banking financial organisation that finances projects in the infrastructure, renewable energy, and energy efficiency sectors.
Bruks Siwertell to supply ship loader to Solusi Bangun Indonesia’s terminal in Tuban
10 November 2022Indonesia: Solusi Bangun Indonesia has ordered a Siwertell screw-type ship loader from Sweden-based Bruks Siwertell via contractor Hutama Karaya (Persero). The ship loader will be used at Solusi Bangun Indonesia’s Tuban terminal in Java. The HST 1000 1B-type ship loader has a continuous cement handling capacity of 1000t/hr and can load either open-hatched or conventional bulk carriers up to 50,000dwt. It will be assembled on site and is planned for delivery at the end of 2023.
Solusi Bangun Indonesia, a subsidiary of Semen Indonesia, has a cement production capacity of 15Mt/yr. It operates one cement plant on Sumatra and three on Java in Narogong, Cilacap and Tuban. The Tuban site is Solusi Bangun Indonesia’s first new terminal construction.