Displaying items by tag: Results
Pakistan: Thatta Cement has blamed a fall in profit on rising input costs and negative currency effects. Its profit dropped by 40% year-on-year to US$1.36m in the financial year to 30 June 2019 from US$2.27m in the same period in 2018. Sales and distribution costs more than tripled to US$1.4m. Its net sales grew by 22% to US$22m from US$18m. Total cement and clinker despatches increased by 34% to 0.56Mt from 0.42Mt.
Cemex Mexico boss acknowledges 2019 as a difficult year
01 October 2019Mexico: Ricardo Naya Barba, the president of Cemex Mexico, has admitted that 2019 has been a ‘difficult’ year for the subsidiary of the building materials company. He said that sales volumes of cement , concrete and aggregates had fallen by 12 – 15% in the first seven months of the year, according to the Mural newspaper. He blamed the decline partly on falling national infrastructure invesment. In 2018 the country accounted for 46% of Cemex’s overall earnings before interest, taxation, depreciation and amortisation (EBITDA) around the world.
Morocco: LafargeHolcim Morocco’s net profit in the first half of 2019 was Euro90.6m, representing an increase of 8.6% year-on-year from Euro83.5m in the six months to 30 June 2018. Its revenue held steady year-on-year with a 0.2% increase to Euro366m from Euro365m. It continues its ambitious renewables plan with an 80% increase in its use of wind power.
HeidelbergCement’s Moroccan subsidiary Ciments du Maroc improved its net profit restated for exceptional items by 3.4% year-on-year to Euro55.3m from Euro53.6m in the first half of 2018. Its 2019 first-half revenue improved by 5.0% to Euro191m from Euro183m in the same period of 2018, which it said was due to a record year-on-year increase in clinker sales of 55% due to increased exports and operational improvements.
South Valley Cement reports loss-making first half of 2019
24 September 2019Egypt: South Valley Cement has reported losses of US$6.19m in the first half of 2019, down by 587% from a US$1.27m profit in the same period of 2018.
Steppe Cement’s first-half profit booms
16 September 2019Kazakhstan: Steppe Cement’s consolidated revenue in the six months to 30 June 2019 grew by 34% year-on-year to US$36.5m from US$27.3m. Its operating profit before working capital changes was US$7.9m compared to US$5.3m in the corresponding period of 2018, an increase of 49%. Negative currency exchange effects reduced the cement producer’s net profit, despite a boost from the local economy and the company’s reduction of its administrative expenses.
Steppe Cement’s consolidated revenue in the six months to 30 June 2019 grew by 34% year-on-year to US$36.5m from US$27.3m. Its operating profit before working capital changes was US$7.9m compared to US$5.3m in the corresponding period of 2018, an increase of 49%. Negative currency exchange effects reduced the cement producer’s net profit, despite a boost from the local economy and the company’s reduction of its administrative expenses.
Ramco Cement set to boost capacity
02 September 2019India: Ramco Cement is set to complete its expansion works, aimed at raising total production capacity to 20Mt/yr from 12.5Mt/yr, by the end of 2020.
Ramco’s capacity utilisation in the three months to 30 June 2019 was 90%, 23% above the national average of 67%. ProjectsToday reports that the company is investing US$467m in developments, including a US$347m grinding plant in Arunachal Pradesh.
The company reported net profits of US$26.7m in the quarter to 30 June 2019, up by 53.6% from US$17.3m in the same period of 2018, against a backdrop of a struggling domestic market, with national cement sales in July down by 2.8% to 3.6Mt from 3.5Mt a year ago.
DongWu Cement reports on first half profits
30 August 2019China: DongWu Cement’s net profit over the six months to 30 June 2019 was US$4.83bn, up by 20.6% from US$4.00bn over the same period of 2018. Its cement segment reported a net profit of US$5.37bn, up by 9.1% from US$4.92bn in the corresponding period of 2018.
In its financial statement, DongWu noted a year-on-year growth in China’s total cement output of 6.8% to 1.05Bnt in the first half of 2019, with prices also increasing by 4.1% to US$60.9/t, though growth rates have slowed.
Infrastructure developments have driven swelling demand, while compressed supply has brought the centrally organised economy’s cement reserves to a medium-low level.
YTL posts final quarter results
30 August 2019Malaysia: YTL’s net profit in the quarter ended 30 June 2019 was US$0.58m, compared to a net loss of US$15.1m in the same quarter of 2018, as its cement section’s profits before tax grew to US$3.02m, up by 20.0% compared to the same period of 2018, as it benefitted from the higher profit share of its associates.
Cahya Mata Sarawak’s first half profit down by 37.1%
29 August 2019Malaysia: Cahya Mata Sarawak (CMS)’s cement division has reported a net profit of US$19.5m in the six months to 30 June 2019, down by 37.1% from US$31.0m in the same period of 2018. The company’s total first half revenue rose by 8.9% to US$194m from US$178m in 2018.
In its financial statement, CMS blamed the cement profit slump on rising clinker import prices and the cost of fuel for its coal-fired cement plants. CEO Datuk Isaac Lugun has expressed hope for the group’s longer-term prospects due to its competitive power pricing and strong global presence.
PPC reports on its four months to 30 July 2019
29 August 2019South Africa: PPC has reported an increase in it earnings before interest, tax, and depreciation (EBITDA) of 5 - 10% for the four-month period to 30 July 2019 compared to a year ago.
Against a backdrop of subdued domestic demand and competitive pricing by importers (whose imports increased 22.0% year-on-year to 0.64Mt in the first half of 2019), the group has held gross debt at a similar level to that reported in March 2019, implementing its US$4.56/t saving initiative and a focus on its most profitable market segments, with sales reduced by 10-15% in the four months to 30 July 2019 compared with 2018.
PPC’s financial report states that South African cement producers have engaged the relevant authorities for a cement standards check.