glebal @ Top 75 global cement companies werld, comparing Through this analysis erent word regions and outlooks forte future fin 2008, Emerging 3 the woke cmt opands pon several ators, en reat yar enc the tart of te majorysaetetdrg not update pil bing Source: The cl cecory 2019 and wore conducts towers ubleatin of he heal Com $ ren0.contosion Sign up for FREE to Coil eet a Ws glebal Join the Global Cement Linkedin Group Follow Global Cement. on Twitter» oon Heidowacerere come Tan coment ou Lnaraen arcane vice argos oyac Conan Souten Proves Cement comers Haina UE rates Comers Petr Valens Sit Aria va Sean une co Beerse n mse panceone ‘eoren Cpaaon sf Mating nt assy comers Morezua SAC Bite Coporton te aincament Corp ACC) eauititnaatn oman Propet Stirshy Comereaarg Nn mato Saray AS Bark Mal tan vein C0 {C1060} ‘Suc Camere co Tutey Peoria Pons asia vee uy sn ‘Below -Tabte2: Global coment companis 1 -25 rakes by capaty ‘Source: Anal reports of respective compaios and thi websites Rank CompanyGroup wage sido Deetpect Hoisdboacerert Timon Comer Car Porat owt capac ye) 24 Puyeeee sas ‘w6 2 » 8 paincament Ca ee) argos oync comet vex orp ‘sm Camertco Bite Capstone panceone uk Conant ts rman Coren co Ena eons Na Gimeno Say AS ‘een Crerton st Warksting and nay siange trons Fars sd ktzestn Camart co om Ursetanmsnatan| ‘Stay Comer are Bark Mal Fon vena co (C1DCO} suoy on ay Sit Ain Porn usa eae uty a une eens ana gigchinese producers ‘Many ofthe largest cement producers inthe wold ae Chines. The difcaty with assessing {hese producers that mucho the nonpaton supa by tna compariescaoat be 'ndepndenty verted. As such, te data regarding cement plant numbers, lotions and ‘roduton capris n Chin s neces ico [As pote in China. First in camant (loa! Cement Magazine, Jy August 2013) China ‘mod total omer: production of 2 28 in 2012 Fo® comparison tal global cement ‘production in 2012 was 8 Tt (acorn 0 tho USGS Nineal Programme Ropar 2013), which ‘means tha Chra azaured fe approximatly 60% of loalcomart production. Given that (China exported £6 6h (0.8% oft elamed reducton volun) af comet in 2012, na has an {pparent coment consumption rte of approemataly Te50kpcaptaly,wnch Is sgnicathy higher han the andar of T0ODkganaly For rapily developing counts [As such ts fet to elven the cament consumption rates and production capectis thet ‘Chiradairs.Iseems kay that Chinese coment preducionvelumes and eapectes ao oar ‘epored by Chnase suhortos and that Cha algo continues o romele canst pcos {hal lek genuine demand. Example nla the nfamous New South China Mal, Dorgauan ‘and Thames Town, Shangha. ‘Overapacty in Chinas such a maar concem tat in May 2013 the cena govemmrt ‘announced that the resoten of tho overeapacty problem inthe coment industry (amongst ‘ters a8 one of he fay acarom tats fr 2073. Tha Navonl Developmen an Refer ‘Commission (DRC) an he tins of aust ang afamatonTecraogy (MIT) ty ‘srues the Detarination fo Suppress Unenecked Expansion of Indus wth Severe Exo2se ‘Capacity plan, which requires tho coment indus to my cu unchecked expansion. phibits ny approval of new eapscty projects and stops any project wider conto eutable tense na nt bean bane, ‘The top 10 coment companies 2013 Accor lo dala gare rm the Global Cement Dtectory 2013, the top fv caer ‘compares by insale capacty ware Anu Conch (217MUy), Lafarge (205M), Hla (Tate), CNB (128) 2nd HeldlbeComet (90M), al of whch possass capactisin ‘xcess of G0Mi Wits he exontin of Anh Cond all are ml-national companies wh ‘Sipueant expat vlunos. ‘Ainul Conch Gement Co Ltd he numba one global coment producing comsany of 203, nas '2 production capacity of 217MUy acconing to te Global ComentDiretry 2019 and 208M {atte endo 2012 reported ont webste, oh are sigifcart ineenses onthe TBOMU9t ‘apaatydeserbed ine Top 20 global cement companies of 2012 ale. Cement and dnksr sakes forthe fret six month of 2013 saw a yarerjoar vluno increas of 28.3% 1 103 Net ‘oli of USSS02m wre anneunead, an inerase of 16.7% ovr theft Mal of 2012. An ‘Caren scons Lo expan apoation dng 2013 wh the addin of 17 new coment ‘nding une under subeaanes Husinan Conch Cement ang Xiengenan Conch Cement. ih & {stl additonal prosuction capacity of 121M. Anh Cone ie lo vertng nt the Intemational mare, with constuction en.oing at ts st overseas se in South Kalimantan, Indoneas. Lafarge tho acon gest lobl cement company of 2013 by camort reduction capacity. ‘The Gal Coment Dreaory 2013 reported m pac of 208M in 2073, compared wth 2254 tr 20°2 repre Inthe Top 20 albel cement compari of 2012 and 24M claimed fon ts webste. Lafarge repored a productive 202 wth sales ttting Eucts Bn (a 3.5% ‘sense on 2071) which nla eamant sales of 141M (down from 145M in 201), However, ‘the fest quarter of 2013 sam a 8% eduction of sale (sown to Euro. 132) due to partly arth weather eondtons and temporary pleducton limitations n Ageia and Egypt Aough the ‘second quarter Was somewhat mproed, sles remained slow expectd lovel, down 2% 12 Eso ‘Hotel, th hd igs global coment producer of 2013, seepred a cement production ‘capacty of 218Mtyr vin ts web, compare wth 14am the Global Comet Orecory 2019, and 217Muy inthe Top 20 global como companies of 2012, The Suis cement company ‘expaloned dsppating results fer 2012 nung a yoarorjearfadution nearer ales ‘votomos of 50% (Gown 032.1 fr tho fest quarter of 2013 anda reduction of 2.8% (downto 5S) for ha saeons quarter of 2083, Parry poo ales wre led in Nor Areca toe Anche Mise Eas ‘chira's CNBM she fourth largest lol coment producer (125M) acacing tothe Global ‘Cement Drecory 2013 andthe second largest acoring ois webste (221M By ‘comparison. inthe Tap 20 gta cmontcorsanios of 2012 CNBM was ror asthe thi lxgest label coment prosusng company wth a eament production capady of 20040. The ‘massive dspartyn production capacty may wel be atsbted to inconsstent courting methods [3 CNBM owns 560 subsidy compari, many of which ar ined Inthe amen rds. ‘The Chinese poducas reported that coment demand corsa to cease i Ch in 20, _athoug te cantina! over aroducton (an Incoase of 9.7% to “OBE dng te est x mors (F203 reduod sls pros. HidelborgCemont is ark at sumo fio ofthe global coment producer for 2013 witha ‘roduton capri of OMe accord to research condos tows production of tho Global ‘Cement Drecory 2014 and 122MUy stated by ts webste (dated Apt 2013). Therap. ‘evolongnatre of HedelbarCerent' business in rcant yare make te pedtion capac of ‘ZAM hay HedobergComent’s company pote (updated end of 2072) cas ownership of {eur slansin the Chine pownces of Guangdeng, Shea and Laon in jit vnties with ‘cara Contry Carers and dong Osvelpment Group The year 2012 was vor succestl or ‘the Gommany-baod pdicors and fated the commission of ny new coment mil and lant. Dain he fst sx months of 2013 HeielbogComert reprted earengs blore ret{2nd income taxes (EBI) of Eos, nasod from Evro467m fr tho fst sx months of 2012. Relatively ft comer and kar salon anaeydie (24M in 2019 and 82-7 2012) wow moderated by caret pre inca Nalcemant, the sath ergest coment producing company of 2013, tas a eament production ‘capacty of Slvr according fo te Global Cement Drecory 2013 and GBM Quoted om ts ‘st (dated ard of 2012. 2012 ha Top 20 global coment cormpanies of 2012 apo a frosts caps o TAMU Upon invetgton sera tha Haleoment eps 30 nol sale te esuts os subsdares of whch there are many, which may secou fr the rastcaly ‘ferent repre capacities. alcomen nat a streaming programme in accoreancs with "42015 lly Pann 2012, wis these of te Ponlaaseve plant in Tuscany athe ur oF te Vio Vala and Ports Empodod plats in Calabi and Si, whi feduce produc capacity by 1 SMU. Coment a car sles cropped by 8.6% rom 49.1 n 20" to 45. at 1 2012 anc ot nica improve over te fe seman of 2073 when cnt ans Cntr sles vlumes of 218M were announce, Sales were nolabl reduced arose Europe, Noch Aftca an he Mile East whl smal nesses in als volimes were epared for North ‘Amaia and Asa taleomen posted EBITDA of Eur 5m fr 2012, down or EBITDA of ‘Eto742m in 201. Rosle have not improved auing the fst dx month 92073, wth EBITDA ‘of Eured8em announond, a 16.0% radon onthe ft haf of 2012 (EBITOA forthe Januany~ ‘hina 2012 wns E40). ‘Cemex th soveth argos lal coment produces in 2013 wth a coment reduction capacity ‘of Tea rom be Global Cement Drclry 2073), lain apoio capac of 25M 20 ‘ts wobste, An excllen 2012 was roped by Cemex feature a 10% yoaran-oa ness In ‘operating EBITDA to US82.6n inspite ofa 2% reduction inne sales (downto USS15.00n), ‘This wae stituted lo efenc inzeases ad inproves sales pins. Camex continued e Improve upon ts envormentlntistves,Ineeasng ateratve ue se to 27% (toa ls std) an to dvelop new products such as Forum IF, wric pomissssubstaal Inger ‘isles savings by rodelng energy casts and increasing quality, However, coment sles ‘olanes in he fest ine maths of 2073 wee dsapporiing (48.7M! compared Yo 50-1 othe ‘Samo pared in 2012) and oparting EBITDA was ruses by 2% fom USS2Otbnn 201210 [USS2.00bn in 2019, Pay poo als wore noted in Mexico (a Yaron redton of 0%), athaugh modest grou of coment sles Was reported actos ae eons “Taiwan Cement Cor sare the numb ight gabe cement proce of 2013 Is prdaction capacity le reported ae EAM nth Global Cament Directory 2013, compared wih the PIKE ‘lamod on ts wobste and TOMI gusts from Tep 20 aba comont compares of 2012 ‘Cement sles volumes havo increased yoar-on-year ror 28.5 in 2008 4.08 In 2012, China Resources srarkad number nine one 2013 global cement producers It weh 2 comont production capacty of SOM fem the Gleb Cement Decory 2073 ane TMi om ‘swat (announed in lune 2013 inclusive of subsites, In 2042 the Chnasaead ‘compary reprted «comers production eapacty inctease of 5. 2MUyr when reste Tom the ‘corso of six coment ging ines. Through corcnuedaomustien and constuction ‘sxpacs to reach a cament production capacty of 768M by tho ond of 2013. Tho Ft sx ‘months of 2013 wero enlremly ative fo China Resoures, with a repated BD yearn yoo inctease In Unaudted congoldstd pot to USST4Bm ths ls contued io expan ‘treugh Chins wen the conmencemant of constuction of we new cement and clk lato ‘Ars Cy ae ssa County. ‘noma isthe numb 10 gbbal coment produce fo 2013 wih 2 cement preducion capac of {SAMUYr{fem the Global Cement rectory 2013) anda epacty of 100M clamed ons ‘ante (dated and of 2012), Comparsty, he Tp 20 soba cament companies 3 2072 report ‘med 8 coment predutioncapacy of B72 In cata wth he ther Chsneseconsanes, 2012 was a poor year for Sinams, Inte 2012 anual pon kannounoed a 60.5% yaronyesr ‘ecrese in prot of US$257m compared to USSESm n 201, This was pari touts to the plunge in cant pcos, ae coment sales volumes aal erased by 2.4% 1063.04 in 2012 up rom 49-1 2041). No torn feos for 2013 cola be eed for Stam, nowever ‘aous news repos stow that thas cnlinad Io expang and aera tough 2013 wih tne purchase ofa new carert lin ra ae ipl subscinyivesrents (58% taken Hazomag & EPR 55% of Wha Xin Comers, UNV Technology Pvt Lig). ‘Selected companies inthe tp 75 ‘Tathalyo Cement Corp, rumbor 13 to gla coment company f 2013, has a coment roduc capri 0 43MUye (Clb Caren Dreloy 2015}. Tis oration cols nat be ‘eld vi ts web or anual feports. A modest yao year net pot ntease of 2 74 was ‘ported for Tanaye Cement fiscal 20:31 Apl 2012-31 Mareh 2013), upto USS rom [USST.27bn in fsa 2072 Domestic coment sales aeroutes fr the lk of sles an oles [USSE.35bn fsa 20, eteing the zen! gown a he Jopancie carson indy. Fiscal 20°46 50 far shaping upto be a good year for Taiyo Gamer, wih nat ses of [USS1.89bn ropa fr quater one (1 Apr! 2018-30 une 2073), 12.8% merase on he samo oto of fart 2013 (US$ 96%), Aidong Development Group is anked at number 16 ofthe global camer: companies in 2018, wi a comant procusin capacy f STMUYr according tothe Geb Comet Decor 203 ‘This isan extemey age diference fom the peducton expacty of 130M thal dena cans nits webste, The Chins-ased caret eampary dos nt provide anus pots or snr on Its webste and as such no fuer anaes cout bo performed. A press satomant sa that a 2012 ison repote ara pot f USS29im, an 8.2% yaar onyear rection em 20% ‘Shanshui Cement the number 16 global coment prodoer of 2013, wth a proadion capacty ‘of Set) acoaring tothe Gleal Cament Dwecor 2013 and GaN claimed by ts webs (as ‘fine 2013), Coment sales velumesin 2012 were very aig reed rom 47M in 2011 to 447.8% in 207, wile nt prof forthe year eropped to USSZEAmn for 212 tram USS3B0M in 2011, The rata repre forthe ret ax mania ot 2913 were alo poor, wth me rts of [USS60.2m announce, a masse yoa-on ear rduction rom 2072 (USS125m). ment slesolenesinereasad fom 21.04 for Januaylune of 2012 t0 22.901 forthe same pio in 2013, ‘ut due to ovreapacty, png temaned unfavourable, Shana cannues to expand, weh tha ‘2d of 3 OMUr of coment production capacty so farin 2013 by instalation of new coment thes witin te ada Shute hanshu Cement and chang Shans Hej Cament, ‘Buzal Unicem sho 17th gost coment company wed In 2013, wth a cament production ‘capacity of 20M (Sta rom sear anda Iowans podtion ofthe Gla Cart ‘recor 2012) and 4SMUyraported on is wabste (anf The end of 2012), Cement salen volumes of 27Mt were reported for 2012 3.4% carvan rom 282M in 201, The fest hat (F203 has not poducod bot resus for Buz. A 5.8% yoar-onyear reduction in coment sakes ‘olenes as reported for he fist sxrmontne of 2013, down o 12.9, wh pil poor ‘sls to Europ and Wexcoobuered, Not sls of Ea?270n wore eparted forth fe ah ‘onthe of 23, down 6.7 from Sur. 250n forthe sar perod im 2012, nigh podution ‘ows duet inceasad fel coats reportedly redond operating prota. ‘Staats Votorantim can be ound t number 19 onthe global coment companies af 2015 ‘Research congucod for production of tn The Glbal Cement Dretary 2014 rears a production ‘xpactyof 35M, wich Is much sale than tat tated on is wobste, STM. Steady ‘results ware opted n 2072 wih nel incare of USS10.8bn compared with USE10.3b a 2011, 2nd improvereat has continued 0 far tough 2013. Cement sees volumes of SM ‘uring ho first quart of 203 wor substantially igor than forth same poi in 2012 (6.300), and cztinves to improve it tho scord quar of 2013, aching 8.TSME7.05Mt of ‘omen! sales wore reposted dry the same paid 2012). Stony domestic as were ‘strewodto @ 31 7eincesse in ousig crest anda dsposele coma gow of 4.9% in Brae, ‘ORM is rared at rumor 39 the slotl caren producers 2013 st an has a cement production capi a! 12MUe according to Global Comont Dietary 7044 roscare, wh ts \weoste das “Me. These values der eal tom th capsty of SMU quod in “Top 20 global carent companies of 2012 which was calculated om dinkrcapacty assuming & clint: factor of 95%. We onthe stece CRH appears tobe arte smal company Is eawly invested in caurtlss subsides ncaing Uniana (Spal), Mastay (tel ard Vata {ualing Mataals (Cha) ana cane many mre aut. The coment prosuion capaci of ‘ose (and othr subir ae not expel Ised CRI anual repos. In 2012 CRH ‘epored EBITON of Euro" Baba. down 1% fam the 2011 EBITDA of Euro" 8b. CRH reported EBITDA of Euo397! durng the est sie mors of 2013, down 2% rom Euos25m forthe ‘samo pred i 2012 ‘The compares thal ae raned at 47-70 have inlaled coment production capaeias of se tan “ivy dopeing tes than Shite fer companies 7-75. The poston of hese companies on tn geal coment producers 2013s is nocossarly uid, ven that alata sal capac, ton could jum a given preducar up several postions Global tends The lbat coment industry was severely canted by the 2008 tinal oss. The USGS Minor Programe Repos of 20072013 show tat whl lal eames reduction (2.6080 n £2007 and 3:706nt in 2012) has cortinued to row in th time sina, his Wand can be atbted ‘mati tothe masae expansion of tre Chinese mare, with an icease of 00M coment ‘roducton sinea 2007. Modest camer preducion growth ates nave bean experoncod by Braz. Ep Ina, ran, Sad Abi, ar Vein, wile proton vokanes hve eth tines or ‘roped drasicaly forthe US, Japan and Westem Europe since Ine pas in 2007. The only opens counties to show sgn of rocovory to dato are Russa and Turk. Spain's prhane ‘he moe eramatc example shown n Figure 2; ks mary European cours, italy took ‘some ime fr te pact f the 2008 recession lo Bu when i he eects on my ‘aus, naucing consrucbon, were catastrophic “Te lobal economy re by 2.2% 2082 acearng tothe IMF, down from 3.7% mn 2011 and 2% in 010. Asin 201, tho growth of advanced (1.8% in 201, 1.2% in 2012) and omering and doling (4% 9201, 5.14 2012) economies remain sak cota wih enh he Intreingly, the Euezore andthe Und Staas possess martadlyatornt grow res, ‘sornted orate domond inthe US aloe growth of 2.2% in 2012, whe Eropean nations ‘orate by 0.5% nthe sae tine perio. The ols Ceara Oulok Date Ap 2013 prods a contruation of those trends or 2013, wih stosay growin inna US (1.9%), ogee ‘govt in tho Eurozone (0.3%) and sng growth (5.8) m emerging and dovelping scorers ‘The comet indy would be expectes lo closely ree hese ros ian i lose nk wih te economy oer ‘The Evopean coment association Camburoau announcd iat he stustion was wars than ‘xpacod in rope forthe fat. qarte of 2013, "The host actual anal GOP data ovale the waakes macroeconomic pice inthe EU snc tha ones ofthe econ ain 2008-1 a. ‘amor improvements wore epotad fer qua wo of 2013; cama year-on-year inzeases In omont production volumes in France, Gemany and aly (14.3%, 18.2% and 10.0% repocivey. ‘compared wth utr to of 2012 we fet a production slowhere and production losses n Spa (@ 2.0% reduction tom 20:2}, In conta, and again inf with the glbal economy pedisions made by he INF. th Potand [Cement Associaton (PCA) lates that he Amescan and Canadian coment incu are on target to eat 4% yearonjear goth in coment production i 2013, pray by improvements Inthe resdertal constrain marist dusty. Simla the National Bureau of Statistics of Ching epood that steady development (ncuding ‘3 yoaronyear GDP groutn rate of 7.8%) was mantis forthe et i month of 2013 ane ‘nh the Doteminaton fo Suppress Unchecked Expansion of Inui wth Severe Excest ‘Cepacty plan, he llstpaseout Ist (which dati otdeed, non enargy-ficent and ‘enironmontally damage coment pars of whieh 827 wre named In 2013) publehed y the‘Mii of Iau and Tacmoloy MIT) includes coment capacty of 92 MU a plants that, wes tobe sod bythe and of 2013 IMF prosctions onthe abl econamy hve ofr n 2019 been rected inte alba coon ‘nut. Repots by he major multinational cement prosucrg campanls elect the same ends oowth in cement sale beng mites to emerging markets n Asa an the Midce Est. Sales {mature mares (Eurpe, Nosh Amaia) have remand fat or ctnad de othe poor ghbal ‘economy and inteasing pons of raw eae se fee ‘Below -Tabte 3 Tp 10 comer reducing counts 2011 and 2012 raked by production Source: USGS Mineral Programme Reports 2012 and 2018 nk county 201 cement proauctan (Mt) 2012 Cament procucton (Mt) 2 USAGhe Puntos) 688 me 6 emt ou rea yay ou oo Future outlook ‘The utr ofthe cement industry looks ver ight for emerging and devloing economies. n ‘he Wor Economie Outlook Ostabase Apr 2013 the IMF prose strong econome aowth ‘ales or savanad and amarging economies (5.3% and 5.7% fr 2013 ad 2014 respec) cn were revse slightly downward in he Werk Econom Outlook Database Ocaber 2013 to 14.59 (2013) and 5.1% fr 2014) Nonetholss,sqrfean somnomi growth in ths rogin wl ro doutlbe relected in the continued expansion thoughout the eonsircion ins. Tho str for advanced econamls Is gute ferent conamie growth ates of 1.2% for 2013) ‘and 22% (for 2014) wore proces in Wors Eoxromse Oxtlook Database Apr 2013, wich wore ‘> rove dowrardsto 2.0% fo 2014 nthe ales: Wor Economie Oatlook Database ‘October 2013 repo. This consstent wth continued slow ecovary tom the 2008 financial ‘ras. The panty n gown rates between the Unto States and Euozs is forcast 10 ‘rede shy by 20% from a peak efrenen of 2.8% n 2011, toa eferone of 1.8 in 2044, Enwionmentaliatves such a8 CO? emison and a potan (dust an heavy metals) ‘reductions and he use of green fuels wil corinue tobe athe fret ofthe omen indus. ‘The Cement Sissinablyintiave (CSI ropes the sucess decouple of C02 omissions ih carnt production vues for the 24 paticpating companies, CO2 emissions trom coment ‘roduton by these compan have fllen rom 17% tom 7SSKgt 800 to€2OK9 n 201 (a {ata clay is erpoyed by the CSI fo ersue company vac). The European coment ‘sensation Comburea hs hunched a resdspfowars an 80% reduction n CO? eissions ‘fo the camert seco by 2050. Advances in goon develments,Inushg carbon ape sd stove tocol, wale host power ganoraton and low-carbon coment prods, wl otis tobe hot topes in years to ome ‘The Inge mutintona coporatons have mized expectalios fr theft. Lafege and Hecalbergcement bth remain content eontzuea gow, while oles ing Holm, Lafarge and Cemex nave renad in expectation du oth redusion in caret vel alsin ‘ho fs ha of 2013, Growth in sale volumes ae expected tobe Imved o Asa, North Aeon ‘and Lain Ameen. Wisaly, my cement campanis using the ine afforded by ower Gomard to insease the focus on costeutong intaives and mplomenterurenmentl plies ‘hal willbe oscntal ne, It is more important than evr tat global coment producers continu to develop er 29 eer hanging glaal markt. Ths maybe aslo the lage mut-natlonas companies, who when ‘ond ling emand in advanead econames can increase ther expo. However. or “smalr coment producer stated in esnomiealyadvancad counts wo pial sell mest of ‘Mal cement o te domestic markt, 2014 may Be Ne year fo begn Scaling Up exports, ‘Below -Tabte 4: Economica grt by raion Source: IMF Wert Economie Outlook Databaea, regen wn eee oa 22a Ergin ad ving estat vos ae eaReferences 1. Lettanberg, M, Top 20 global cement compares, Global Cement Meganine December 2012, PRo Pusesions Itomatonal td, Epsom, UK ogre ‘inlet Eee programe ve ‘Gear Des ronan Bose ‘el raion renee Sere ‘Sl Son Sos tor ‘Gams pm Pray soca owse ‘taal Ferra ii rea ae Tretaanoe cone