09 August 2017
Japan: Taiheiyo Cement has announced its summary financial results for the first quarter of its 2017-2018 fiscal year, which ended on 30 June 2017. During the quarter the group took US$1.82bn in revenue, leading to an operating profit of US$80.5m and a net profit of US$42.1m.
The group forecast that it would see revenues of US$7.76bn for the fiscal year ending 31 March 2018, with a net profit of US$318.5m.
Belarus to ramp up exports to Ukraine 09 August 2017
Belarus: Construction Minister Anatol Chorny expects that Belarus will export 0.3 - 0.4Mt of cement to Ukraine in 2017 and to then increase cement exports to that country to 1Mt in 2018. Speaking in Minsk, Chorny was responding to ‘efforts’ by the Association of Cement Producers of Ukraine and certain high-ranking Ukrainian government officials that had earlier tried to ‘force’ Belarusian producers out of the Ukrainian market, by accusing them of providing false quality certificates. The dispute has since been settled.
Belarusian exports of building materials rose by 29% year-on-year between 1 January 2017 and 31 July 2017, noted Chorny, adding “We managed to reduce production costs and therefore the profitability of sales increased by 25-30%.”
Italcementi to fight Euro84m antitrust fine 09 August 2017
Italy: Italcementi, part of Germany’s HeidelbergCement, has said that charges brought by Italy's antitrust authority are unfounded and it would appeal against the sanction at the Lazio court. Italcementi, along with other leading cement producers, is accused by the regulator of allegedly breaching competition rules for the period from June 2011 to January 2016.
In particular, Italcementi has said that it believes that the commercial decisions taken by the previous management to propose nominal price increases to its customers were dictated by autonomous, solid and logical business motives.
Italcementi also considers that the Euro84m fine, one of the highest ever imposed by the authority, is completely disproportionate to the turnover generated by the company in Italy.
Saudi Arabian cement sales rise 11.5% in July 2017 09 August 2017
Saudi Arabia: Cement sales of companies operating in Saudi Arabia recorded an increase of 11.5% in July 2017. Sales rose to 3.49Mt in July 2017, compared to 3.13Mt during July 2016. Cement production in Saudi Arabia grew by 5% year-on-year to 3.37Mt in July 2017 from 3.2Mt, according to Yamama Cement Company.
Southern Province Cement topped the sales list with 409,000t sold in July 2017, although this was 5.32% less than the 432,000t that it sold in July 2016. Yamama Cement was the second most prolific seller, with a year-on-year sales growth of 17.5% to 369,000t from 314,000t in July 2016. Meanwhile, Tabuk Cement registered the lowest sales of 61,000t in July 2017, a 17.6% fall from 74,000t in the year-ago period.
In June 2017 cement companies’ sales in Saudi Arabia dropped by 40.6% year-on-year to 2.08Mt from 3.5Mt in June 2016. This is likely due to the earlier timing of Ramadan combined with temperatures of up to 45°C (113°F), both of which will have significantly reduced demand for building materials.