Votorantim, formerly Votorantim Industrial, generated a turnover 8.7% lower at BRL26,738m (EUR8046m) and EBITDA declined by some 38% to around BRL4300m (EUR1,294m) in 2016 when compared with 2015. Although the net interest charge declined by 9.9% to BRL1731m, there was a net loss of BRL1295m compared with a the net profit fell of BRL387m (EUR116.5m). Group capital expenditure was 6.2% lower at BRL3031m (EUR912m), of which cement represented BRL27.3m.
State-owned cement company Semen Indonesia will commence production of its cement plant in Rembang, Central Java, in the first half of 2017.
Semen Indonesia president director Rizkan Chandra said that the company respects the results of a meeting held at the Presidential Staff Office in Jakarta on Wednesday, April 12, 2017.
Steppe Cement Ltd has announced that its cement sales suffered in the first quarter of the year due to a decrease in demand in the Kazakhstan cement market.
The company said that it had sold 123,669 tonnes of cement in the first quarter ended March 31 compared to 190,935 tonnes over the same period last year, a 35% decrease.
Cement consumption in Indonesia increased by four% YoY in March 2017 to 5.02Mt following flat sales volumes in the first two months of the year. The increase is attributed to a sharp rise in demand in Central Java and East Java.
Activity in the construction industry is rising at a faster pace following the EU referendum than initially expected, according to the latest forecasts by the Construction Products Association (CPA).