Displaying items by tag: Results
Semen Indonesia continues to benefit from Holcim Indonesia acquisition as local sales fall
31 July 2019Indonesia: Semen Indonesia’s revenue grew by 23% year-on-year to US$1.17bn in the first half of 2019 from US$0.95bn in the same period in 2018. Its net profit halved to US$34.3m from US468.8m. Its domestic sales volumes of cement fell by 7.17% to 7.78Mt in the first five months of 2019 from 10.54Mt in the same period in 2018. Exports rose by 7.42% to 1.38Mt from 1.28Mt. Both local sales and exports fell at its Thang Long Cement subsidiary in Vietnam. However, its acquisition of Holcim Philippines in February 2019 has boosted its overall sales by 17% to 15.2Mt.
Australia: Adelaide Brighton says that it expects its net profit, after tax excluding property, to be no higher than US$90m in 2019. This is a further reduction on the forecast of around US$110m it made in May 2019. It has blamed poor residential and civil construction markets, continued competition in Queensland and South Australia, growing raw material costs and fees related to a cancelled import order.
Saudi Arabia: Southern Province Cement’s sales revenue rose by 37% year-on-year to US$165m in the first half of 2019 from US$121m in the same period in 2018. Its net profit after Zakat and tax grew by 53% to US$56.3m from US$36.8m.
Saudi Arabia: Saudi Cement’s sales revenue rose by 26% year-on-year to US$194m in the first half of 2019 from US$154m in the same period in 2018. Its net profit after Zakat and tax grew by 12% to US$59.9m from US$53.4m.
Germany: HeidelbergCement’s profit fell in the first half of 2019 due to non-recurring effects related to the divestment of its assets in Ukraine. Its profit fell by 33% year-on-year to Euro291m in the first half of 2019 from Euro435m from in the same period in 2018. Its revenue rose by 9% to Euro9.21bn from Euro8.43bn. Its sales volumes of cement fell slightly to 61Mt and ready-mixed concrete sales volumes grew by 6% to 24.4Mm3. Its profit fell by 33% to Euro435m from Euro291m.
“In general, the market dynamics weakened slightly in the second quarter in comparison with the first quarter. Nevertheless, we were able to improve our result in the second quarter because of our strong global positioning. Good margins in Asia, as well as Western and Southern Europe, more than compensated for the weaker business due to adverse weather conditions in North America and the Africa-Eastern Mediterranean Basin Group area,” said Bernd Scheifele, the chairman of the managing board of HeidelbergCement.
Lucky Cement fights growing costs with export sales
30 July 2019Pakistan: Lucky Cement has counteracted mounting costs with increased export sales. Its gross sales rose slightly to US$420m in its financial year to 30 June 2019. Its profit after tax fell by 14% year-on-year to US$65.2m from US$75.8m from the same period in 2018. Its cost of sales grew by 11% to US$190m from US$211m. Its cement sales volumes fell by 1.8% to 7.67Mt. However, its export sales increased by 60.9% to 1.82Mt.
The cement producer said that the first shipment of machinery from China’s Sinoma to its new 1.2Mt/yr integrated plant project at Samawah in Iraq. A power plant has also been ordered from Finland’s Wärtsilä. Commercial production at the site is planned for mid-2020.
Turkey drags on Cementir’s half-year results
29 July 2019Italy: Cementir Holding has blamed poor performance in Turkey for falling cement sales volumes. Although it said that positive trends in Scandinavia, the Baltics and Belgium had party compensated for this. Its sales volumes of grey and white cement fell by 12.2% year-on-year to 4.32Mt in the first half of 2019 from 4.92Mt in the same period in 2018. Ready-mixed concrete sales dropped by 21.3% to 2Mm3 from 2.54Mm3. Its revenue rose slightly by 0.6% to Euro592m from Euro589m. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 14.7% to Euro110m from Euro96m.
CCNN’s sales rise to US$89.1m in first half of 2019
29 July 2019Nigeria: Cement Company of Northern Nigeria’s (CCNN) sales revenue more than doubled to US$89.1m in the first half of 2019 from US$33.6m in the same period in 2018. Its profit after tax nearly tripled to US$20.3m from US$7.22m, according to the Business Day newspaper.
Saudi Arabia: Najran Cement’s sales rose by 20% year-on-year to US$48.7m in the first half of 2019 from US$40.6m in the same period of 2018. Its net profit after Zakat and tax was US$0.92m, after a loss previously. It attributed its increased sales and profit to higher sales volumes, better pricing and reduced production costs.
Peru: UNACEM’s sales rose by 1.5% year-on-year to US$296m in the first half of 2019 from US$292m in the same period in 2018. Its profit grew by 20.5% to US$74.3m from US$61.7m. Cement production increased by 8.5% to 2.62Mt from 2.42Mt. The cement producer also said that clinker exports from its Conchán pier fell by 22% to 0.45Mt from 0.58Mt.