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Semen Baturaja’s sales down by 9.7% in January 2015 12 February 2015
Indonesia: State-owned PT Semen Baturaja Tbk has reported a 9.7% decline in sales volumes from 100,603t in January 2014 to 90,764t in January 2015. Zulfikri Subli, corporate secretary of Semen Baturaja, said that the decline is due to increased rainfall and weakening commodity prices, which resulted in property and infrastructure developments being delayed. "Until the end of January 2015, we managed to sell 90,764t valued at US$6.85m," said Subli.
However, Semen Baturaja expects sales volumes to rise in the following months, bringing total sales in 2015 to 1.75Mt and total revenues to US$133m. The company's performance in 2014 was equal with that in 2013, with sales volume of 1.26Mt.
Semen Baturaja is seeking external financing of US$58.7m from the issuance of bonds or bank loans to finance the construction of the Semen Baturaja II plant with a total investment requirement of US$260m.
Sumanta Pandit appointed new CEO of Holcim Cement (Bangladesh) Ltd
Written by Global Cement staff
12 February 2015
Bangladesh: Sumanta Pandit has been appointed as CEO of Holcim Cement (Bangladesh) Ltd. Pandit joins Holcim Bangladesh from Emirates Cement, a subsidiary of UltraTech India, where he was heading the business in Bangladesh as country manager.
Prior to this, Pandit worked for various multinational cement companies in different management positions. During his long career in the cement industry, Pandit has worked in Switzerland, Oman, Kuwait, Sri Lanka and Sudan. With 22 years of exposure in the industry, he brings with him considerable regional and international experience. He holds an honours degree in Civil Engineering from the University of Mumbai.
Italy's Cementir raises EBIT by 36% in 2014 11 February 2015
Italy: In its initial results statement, Cementir Holding SpA has reported earnings before interest and tax (EBIT) of Euro104m in 2014, up by 35.7% annually. Revenues dropped by 4.1% to Euro948m, mostly due to the appreciation of major currencies against the Euro.
During the entire of 2014, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 13.4% to Euro192m, as non-recurring items of some Euro12m pushed the result up. EBITDA margin grew to 20.3% in 2014, up from 17.2% in 2013. Cementir's net debt dropped to Euro278m at the end of 2014 from Euro325m at the end of 2013, thanks to positive operating cash flow.
Cementir's operating results in 2014 beat its own targets, due to efficiency improvement efforts, according to chairman and CEO Francesco Caltagirone Jr. In its outlook for 2015, Cementir expects to post EBITDA of some Euro190m and have its net debt at around Euro230m at the end of the year. It expects to raise its sales of both cement and ready-mix concrete, to increase the proceeds from waste treatment in Turkey and the UK and to achieve efficiency savings on energy costs.
Vulcan Materials’ profit soars on higher aggregates sales 11 February 2015
US: Vulcan Materials' 2014 fourth quarter earnings surged on continued growth in aggregates shipments and stronger average selling prices. The company has also been expanding through a string of deals. Vulcan reported that it spent US$322m for bolt-on acquisitions during 2014.
"Strong momentum in the latest quarter bodes well for 2015, a year in which we expect a continued recovery in demand for our products and, importantly, an improving pricing and margin environment," said Chief executive Tom Hill. "Although aggregates demand remains well below normal levels, this steady and gradual improvement is a further indication of construction activity recovery," said Hill.
Vulcan reported a profit of US$38m in the fourth quarter of 2014, up from US$9.1m in the same period of 2013. Revenue during the period increased by 11% to US$755m. Vulcan said that the latest results benefited by around US$7m as the result of lower diesel fuel costs, mostly in its aggregates business.
Buzzi Unicem cement sales flat in 2014 11 February 2015
Italy: Buzzi Unicem has reported sales of Euro2.50bn in 2015, a slight decrease from Euro2.51 in 2014. Buzzi Unicem's sales rose in the United States and the Czech Republic, grew slightly in central Europe, were flat in Russia and continued to drop in Italy and Poland, according to a preliminary financial statement for 2014.
The Italian cement producer's net debt dropped by Euro34m to Euro1.06bn in 2014 due to cash flow from operations, disposal of non-strategic assets and a careful dividend policy. The group expects its recurring earnings before interest, tax, depreciation and amortisation (EBITDA) in 2014 to have risen to slightly over Euro400m, in line with previous guidance.
Buzzi Unicem's board of directors are called to approve the consolidated audited 2014 profit and loss statement on 27 March 2015.