Displaying items by tag: Results
Vicat’s nine months results benefit from French market improvement
07 November 2018France: Vicat’s cement sales rose by 1.8% year-on-year to Euro948m in the first nine months of 2018 from Euro932m in the same period in 2017. At constant scope and exchange rates it rose by 10.2%. Overall sales grew by 1.4% to Euro1.95bn from Euro1.92bn. The group’s sales volumes of cement rose by 3.1% to 17.4Mt from 16.9Mt.
“The group achieved healthy increases over the period in all our territories, except Switzerland and Egypt,” said the group’s chairman and chief executive officer (CEO) Guy Sidos. “In the third quarter, business trends held up well, despite a downturn in the economic and industry environment in Turkey, which was hit by the sharp depreciation in its currency. The acquisition of Ciplan in Brazil, a country with tremendous potential, reinforces Vicat’s strategy of sustainable growth, leveraging its high-quality assets and strong regional positions to generate cash flow.”
US: GCP Applied Technologies’ net sales from its Specialty Construction Chemicals division grew by 5.9% year-on-year to US$165m in the third quarter of 2018 from US$156m in the same period in 2017 due to higher volumes in its Concrete and Cement businesses. Overall, the company’s net sales rose by a similar percentage. It manufactures a range of additives for cement production under the Opteva and Tavero brands.
RHI Magnesita cement and lime market held back by China
06 November 2018UK: RHI Magnesita’s cement and lime business has been held back by reduced production in China. It also said that its on-going focus on pricing and quality, ‘against more commoditised competitors,’ had reduced its division’s performance in the third quarter of 2018. Overall the refractory products producer said that its had seen ‘good’ trading performance in the third quarter of 2018 following positive trends seen in the first half of the year.
India: Dalmia Bharat’s sales rose but its earnings and profit fell in the half-year to the end of September 2018. Its income increased by 10% year-on-year to US$625m from US$570m and its sales volumes grew by 13% to 8.6Mt from 7.6Mt. However, earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 8% to US$126m from US$138m and its profit after tax dropped by over a third to US$7.7m from US$12m.
The cement producer said it had reduced its logistic costs despite an increase in diesel prices. It also reported that its alternative fuels co-processing rate was 5.5% in the second quarter of its 2019 financial year with the company focused on raising this. The board of director also announced that the amalgamation with Odisha Cement had been completed.
Ramco Cements’ profit down as fuel costs mount
01 November 2018India: Ramco Cements’ earnings and profits fell in the six months to the end of September 2018 as fuel and raw material costs rose. Its net profit after tax fell by 26% year-on-year to US$32.6m from US$44.2m in the same period in September 2017. Revenue rose by 15% to US$329m and sales volumes of cement rose by 18% to 50.8Mt. The cement producer said that sales in Kerala had been adversely affected by bad weather in the most recent quarter.
Indocement operating income down so far in 2018
01 November 2018Indonesia: Indocement’s sales revenue rose by 2% year-on-year to US$713m in the first nine months of 2018 from US$696m in the same period in 2017. However, its operating income fell by nearly a third to US$35m from US$97m. The subsidiary of Germany’s HeidlebergCement reported that its cost of sales rose in the reporting period.
Saudi Cement’s sales fall by 5.8% to US$217m so far in 2018
01 November 2018Saudi Arabia: Saudi Cement’s sales revenue fell by 5.8% to US$217m in the first nine months of 2018 from US$231m in the same period in 2017. Its net profit after tax decreased by 20% to US$73.5m from US$92.2m. The cement producer has blamed falling sales, rising costs and an increase in Islamic finance charges for its declining profits.
CNBM’s revenue rises by 21.5% to US$22.5bn so far in 2018
31 October 2018China: China National Building Material’s (CNBM) revenue rose by 21.5% year-on-year to US$22.5bn in the first nine months of 2018 from US$18.5bn in the same period in 2017. Its net profit nearly doubled to US$1.7bn from US$956m.
Lucky Cement’s sales boosted by export market
31 October 2018Pakistan: Lucky Cement’s sales volumes have been supported by exports in its first quarter. Local sales dropped by 9.1% year-on-year to 0.14Mt in the period to the end of September 2018 but exports rose by 85.1% to 0.23Mt. Despite this, its revenue rose by 2% to US$121m from US$118m. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 19.7% to US$25m from US$31m. It said that its cost of sales had increased by 7.3% due to increases in coal, packaging and other fuel prices.
Peru: Higher sales to the self-construction sector, medium-sized companies and the public sector have driven sales growth for Cementos Pacasmayo. Its sales grew by 3.1% year-on-year to US$274m in the first nine month of 2018 from US$266m in the same period in 2017. Its consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 5.1% to US$83m from US$79m.
Cement and clinker production grew by 2.4% to 1.69Mt and 14.7% to 1.30Mt respectively. The building materials producer also reported that quicklime production fell by 23.6% to 97,400t at its Pacasmayo plant due to reduced demand.