Displaying items by tag: GCW708

Ireland: CRH recorded total revenues of US$6.8bn in the first quarter of 2025, up by 3% year-on-year, and adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$495m, up by 11%. However, it reported a net loss of US$98m, compared to a net income of US$114m in the first quarter of 2024.

The company said performance was driven by its ‘differentiated strategy’, positive pricing and acquisition contributions, with underlying demand across key markets remaining positive. CRH completed eight acquisitions for US$0.6bn during the period and reaffirmed its full-year 2025 guidance for a net income of US$3.7bn – 4.1bn and adjusted EBITDA of US$7.3bn – 7.7bn.

Uganda: Lands, Housing and Urban Development minister Judith Nabakooba said that the government and the Naita-A-Tepeth Communal Land Association have finalised a lease agreement to enable Tororo Cement to build Uganda’s first clinker plant in Katikekile, Moroto District. Nabakooba said that the project began in 2023, and will reduce clinker imports and conserve foreign exchange.

According to a social media post by the ministry, the agreement includes the sale of 202 hectares to Tororo Cement for the plant site, the lease of 3824 acres to the Uganda Investment Authority and the titling of institutional land for local public use.

Philippines: Concreat Holdings Philippines, a majority-owned subsidiary of DMCI Holdings, announced the full operations of the new production line at its Solid Cement plant in Antipolo City. The upgrade raises the plant’s capacity from 1.9Mt/yr to 3.4Mt/yr.

Concreat Holdings Philippines CEO Herbert Consunji said “This expansion is a pivotal step in Concreat’s turnaround. With higher capacity, a more efficient kiln and the use of Semirara coal, we are rebuilding momentum and lowering production costs - laying the groundwork for long-term recovery.”

US: France-based Fives Group has launched new subsidiary Fives FCB USA in Alabama to supply the North American market with low clinker blended cement and supplementary cementitious material production equipment and services. Products being promoted include the FCB Horomill, the FCB TSV Classifier and the FCB Rhodax. The unit will share premises with Fives’ North American Construction Services company.

Deputy general manager Alain Cordonnier said “The opening of our subsidiary in the US marks a significant milestone for Fives FCB. We are excited to bring our innovative technologies and expertise to the US market, and we look forward to building strong partnerships with local industry leaders.”

Pakistan: Cement despatches rose by 13% year-on-year to 3.34Mt in April 2025, driven by an 8% increase in domestic sales to 2.52Mt and a 35% rise in exports to 0.83Mt from 0.61Mt, according to All Pakistan Cement Manufacturers Association (APCMA) data. Total despatches in the first ten months of the current financial year declined by 0.3% year-on-year to 37.3Mt. Domestic sales dropped by 6% to just under 30Mt, while exports rose by 29% to 7.36Mt.

Spain: Molins has reported that a cement market slowdown, exacerbated by tariffs and adverse weather in Spain and Argentina, affected its financial performance during the first quarter of 2025. The company reported sales of €327m, a 3% year-on-year decline compared to the same period of 2024, although like-for-like sales rose by 6%.

Molins’ earnings before interest, tax, depreciation and amortisation (EBITDA) came to €87m, a 3% decline compared to the same period of 2024. Again the like-for-like result was a 9% improvement.

Molins reported that higher average sales prices and lower costs due to ongoing efficiency plans, mitigated the unfavourable impact of exchange rates, particularly the Mexican and Argentine Pesos.

Philippines: Cemex Holdings Philippines has officially completed its rebranding initiative, with the company now known as Concreat Holdings Philippines Inc. The rebranding, which was approved by the Securities and Exchange Commission, was undertaken as part of the company’s evolution following the acquisition by the Consunji Group, led by diversified engineering conglomerate DMCI Holdings, in late 2024.

Concreat Holdings said the new name, which combines the words ‘Consunji’ and ‘create,’ reflects its renewed focus on integrity, reliability, resilience and nation-building. The company’s president and CEO Herbert Consunji said that the rebranding represents a bold new direction under DMCI’s management, guided by an all-Filipino team deeply rooted in local insight and long-term stewardship.

India: Nuvoco Vistas Corporation has reported that a decline in cement and ready-mix concrete sales caused an 85% year-on-year fall in its net consolidated profit for the 2025 financial year (FY2025), which ended on 31 March 2025.

Its net profit attributable to its owners fell from US$17.5m in FY2024 to just US$2.6m in FY2025. Its revenues from operations fell by 3.5% to US$1.23bn, while revenues from cement operations also fell by 3.5%, to US$1.12bn. Nuvoco Vistas sold 1.94Mt of cement during FY2025.

Nuvoco Vistas’s managing director, Jayakumar Krishnaswamy, said "Despite a subdued demand environment in the first half of FY2025, the company witnessed a strong rebound in the second half. The company responded swiftly by capitalising on emerging opportunities to strengthen its market presence.”

Kyrgyzstan: A total of 0.58Mt of cement was produced during the first quarter of 2025. This was a rise of 51.6% year-on-year compared to 0.38Mt in the first quarter of 2024, according to the National Statistical Committee. It was also higher than the first quarter of 2023, when 0.45Mt of cement was produced.

However, construction companies and buyers of construction materials have recently encountered cement shortages in the capital city Bishkek. Local finance media source Tazabek reported that it has contacted several construction stores, wholesale and retail points of sale of cement, which confirmed shortages. Cement is expected to be back in stock within 10 days.

Trinidad & Tobago: Cemex subsidiary Trinidad Cement (TCL) has reported a strong start to 2025, posting a net profit attributable to shareholders of US$3.8m in the first quarter of the year. This represents a significant turnaround from the US$1.1m loss recorded in the first quarter of 2024, with TCL reporting higher revenues and ongoing cost management initiatives. TCL attributed this to a series of necessary price rises, the most recent of which took effect in February 2025.

TCL’s revenue for the first quarter of 2025 rose by 9% year-on-year US$92.2m, up from US$84.4 in the first quarter of 2024. Its gross profit climbed to US$27.4m, which the company attributed to improved sales volumes and operational efficiencies across its regional markets, including Trinidad & Tobago, Jamaica, Barbados and Guyana.