Global Cement News

Egypt: Sinai Cement has appointed Wael Abdrabbou as Head of Finance.

Abdrabbou has worked in financial management roles at the subsidiary of France-based Vicat since 2020. Before this he held accounting roles for the bags unit of Lafarge Egypt from 2004. He eventually became the division’s Chief Accountant from 2014 to 2020. Abdrabbou holds an accounting degree from Mansoura University and a master of business administration from the Arab Academy For Banking And Financial Science.

Türkiye: Medcem Cement has appointed Emre Karabulut as Group Manager of Information Technologies and Digitalisation. He has worked in information management roles at Medcem Cement for over a decade. Prior to this he held software engineering positions with chemicals manufacturer Organik Kimya and various software companies.

France: Vicat recorded consolidated sales of €3.9bn, a year-on-year decrease of 1%, in 2024. It cited negative exchange rates, including for the Turkish Lira and Egyptian Pound. €1.16bn in sales came from its operations in France and €1bn from its US operations. It also reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of €783m, up by 6% year-on-year. Its Cement business underwent a 3% decline in volumes during the year, driven by declines in France and India. Demand in France reportedly reached a 25-year low. The company noted an increase in the use of alternative fuels to 36% and has set itself the target of lowering its direct specific emissions to 497kg of CO₂ per tonne of cement equivalent and to 430kg CO₂ per tonne of cement equivalent in Europe by 2030. At the end of 2024, these figures stood at 576kg and 497kg respectively.

At the end of 2024, the Group's financial structure remains ‘solid,’ with net debt down by €185m over 2024. In 2025, it will aim for an increase in sales on a like-for-like basis and ‘low single-digit’ EBITDA growth.

Guy Sidos, chair and CEO of Vicat, said "In a deteriorated environment in Europe, the group has delivered historic results. We have witnessed strong growth in the US and progress in the Mediterranean region. I am confident that 2025 will be another successful year for Vicat, thanks to continued momentum in the US, stabilisation in Europe and the first contribution from our investment in Senegal.”

Türkiye: Titan Cement has agreed to sell its 75% stake in Adocim Cimento Beton to Mugla Cimento (50%) and Yurt Cimento (25%) for US$87.5m. The assets include a cement plant, terminal and related infrastructure in eastern Türkiye.

The transaction is expected to close in the second quarter of 2025, subject to regulatory approval. Titan Cement will retain its grinding and supplementary cementitious materials assets in other parts of the country.

New Zealand: Fletcher Building has reported its financial results for the first half of its 2025 financial year, which began on 1 July 2024. The group recorded sales of US$2.05bn, down by 7% year-on-year from US$2.21bn, and negative earnings before interest and taxation (EBIT) at a loss of US$14.9m. It previously recorded a positive EBIT of US$44.1m in the corresponding first half of its 2024 financial year.