Displaying items by tag: Morocco

Morocco: Ciments du Maroc’s turnover fell slightly to Euro371m in 2018. Its net profit grew by 3.4% year-on-year to Euro96m in 2018 from Euro92.8m in 2017. Its cement sales volumes fell by 2.7% in 2018 compared to a drop in local cement consumption of 3.7%. The board of the cement producer said that it was continuing its development plan at Nador in the south of the country.

Morocco: LafargeHolcim Morocco’s turnover fell by 2% year-on-year to Euro725m in 2018 from Euro743m in 2017. Its consolidated net profit dropped by 18% to Euro156m from Euro177m. The subsidiary of LafargeHolcim said that its sales had fallen less than the 5% that the local cement market suffered. It blamed a drop in operating income on lower revenue and rising petcoke costs. The cement producer said it was ‘confident’ about the fundamentals of the building materials sector. It plans to commission a new cement plant in the Souss region in 2020.

Morocco: HeidelbergCement has sold a 7.8% share of its stake in Ciments du Maroc to an unnamed local investor for around Euro140m. Following the transaction the German building materials producer retains a controlling share of 54.6% in its subsidiary. It has reduced its stake in Ciments du Maroc as part of its action plan to optimise its portfolio and improve cash generation. The group has a target of Euro1.5bn of asset divestments by the end of 2020.

“HeidelbergCement is fully committed to remain the long-term majority shareholder of Ciments du Maroc, a key strategic asset within the group’s portfolio,” said Bernd Scheifele, chairman of the managing board of HeidelbergCement.

Morocco: Data from the Ministry of Housing shows that cement sales fell by 3.6% year-on-year to 13.3Mt in 2018. This is the lowest level of consumption since 2007, according to Médias 24. Cement sales fell by 0.7% in 2016 and by 2.54% in 2017.

Morocco: Cement sales volumes at Ciment du Maroc have fallen by 2.6% year-on-year in the first half of 2018. This compares to a decline of 2.9% in national consumption, according to local media. Its operating turnover fell by 4.2% to Euro449m. The subsidiary of Germany’s HeidelbergCement also noted that it was happy with the progress of its Nador grinding plant project.

Morocco: Cement consumption in Morocco was higher in July 2018 than for any July since 2012 at 1.3Mt, a 0.1Mt (7.8%) year-on-year increase.

The upturn was reported by local press as having been expected by cement companies, which now hope to finish the year level or even slightly up on 2017, if conditions remain favourable.

According to data provided by the Professional Association of Cement Manufacturers (PCA), 10 out of 12 regions saw consumption increase in July 2018. Increases range from 0.33% for Oriental to 40.55% for Guelmim-Oued Noun.

Casablanca-Settat still has the lion's share of Moroccan cement consumption. The region was able to absorb 282,680t, an increase of 3.8% year-on-year. This zone was followed by Marrakech-Safi, which its volumes sold rise by nearly 21% compared to July 2017, thus accumulating 180,131t.

Ivory Coast: Morocco’s Ciments de l'Afrique (CIMAF) has started work on a 0.3Mt/yr cement plant at Bouake. The company has acquired land for the project and is currently preparing the necessary permits to begin construction, according to the African Press Agency.

CIMAF built its first 0.5Mt grinding plant in Abidjan in 2013. The production capacity at this unit was then increased to 1Mt/yr in 2016. In late 2017 the cement producer started building a second 1Mt/yr plant at San Pedro. The latest project at Bouake will be its third plant in the country.

Mexico: Cemex’s first quarter operating earnings have fallen due to poor weather and fewer business days. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 4% year-on-year to US$535m in the first quarter of 2018 from US$557m in the same period in 2016. Its new sales rose by 8% to US$3.38bn from US$3.14bn and its cement sales volumes rose slightly to 16.1Mt from 15.9Mt.

“Our EBITDA generation during the quarter was affected by seasonal effects, including adverse weather in our European and US operations, fewer business days and an inventory costing-variation effect. We expect the impact of the fewer business days and the inventory effect to revert in the upcoming months, while we expect most of the pent-up demand caused by adverse weather to be recovered during the rest of the year,” said chief executive officer Fernando A Gonzalez.

Morocco: China’s CBMI has signed a contract with LafargeHolcim to build a cement grinding plant near Agadir. The deal for the SSS 13 & 14 Grinding Plant EPC Contract was signed on 21 March 2018 at the LafargeHolcim Technology Centre in Lyon, France. Once operational the plant will be run by LafargeHolcim Maroc.

Morocco: Cement consumption fell by 6.91% to 3.31Mt in the first three months of 2018 from 3.55Mt in the same period of 2017. Consumption decreased particularly in the Dakhla - Oued Ed-Dahab, Fès - Meknès and Béni Mellal - Khénifra regions according to Ministry of Housing data. It also dropped sharply in March 2018 by 15.1% to 1.24Mt.