Global Cement News

Mexico: GCC’s sales rose by 9.7% year-on-year to US$466m in the first half of 2021 from US$424m in the same period in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 15.3% to US$147m from US$127m. Cement sales volumes grew by 3.2% and 11.5% in the US and Mexico respectively. Concrete sales volumes fell by 21.1% in the US but grew by 22.8% in Mexico.

“Cement demand is stronger than pre-pandemic levels and construction activity is expected to remain robust throughout the year. Every kiln at GCC is up and running,” said Enrique Escalante, GCC’s chief executive officer.

India: Dalmia Bharat’s first-quarter consolidated income net sales were US$348m in the 2022 financial year, up by 36% year-on-year from US$256m in the first quarter of the 2021 financial year. The group’s cement sales totalled 4.89Mt, up by 33% from 3.66Mt. Profit after tax increased by 45% to US$37.2m from US$25.7m.

Managing director Puneet Dalmia said “Despite the challenges posed by the second wave of Covid-19, our business has once again shown resilience and successfully delivered an all-round performance. We are very excited about the opportunities that we see in the marketplace, and our consistent performance over the past quarters gives us immense confidence as we embark on an aggressive growth journey over the next decade.” He added “Our vision is to build an institution based on the principles of growth, profitability, sustainability and respect, and also to be able to participate meaningfully in our country’s growth story. We are committed to delivering industry-leading returns to our stakeholders through our sustainable business model and a robust governance mechanism.”

India: Ramco Cements recorded standalone net sales of US$166m in the first quarter of the 2022 financial year, up by 17% year-on-year from US$141m in the corresponding quarter of the 2021 financial year. Its earnings before interest, taxation depreciation and amortisation (EBITDA) rose by 37% to US$49.7m from US$36.3m. The company’s net profit growth for the quarter was 54%, taking this to US$22.7m from US$14.8m.

Chief executive officer Aahvan Dharmakrishnan said “With lot of uncertainties and commodity prices going up without corrections, we were able to control the cost reasonably well and performed well.”

India: Ramco Cements plans to invest US$64m in a modernisation and capacity expansion of its Ramasay Raja Nagar cement plant in Tamil Nadu. The Hindu newspaper has reported that the project involves building a new 3000t/day clinker line to replace a 1450t/day line. This will increase the plant’s overall capacity by 32% to 1.44Mt/yr from 1.09Mt/yr. The company has placed equipment orders for the project and plans to commissions the upgrade in December 2022. It expects to receive environmental clearance for the work in September 2021.

Philippines: Japan-based Taiheiyo Cement has underwritten a US$250m capital increase for its subsidiary Taiheiyo Cement Philippines. Nikkei Business Trends News has reported that the company has scheduled six payments between July 2021 and January 2024. The funding will increase Taiheiyo Cement Philippines’ total capital to US$291m.