Displaying items by tag: Results
Eagle Cement’s net sales fall in 2020
13 April 2021Philippines: Eagle Cement recorded full-year consolidated net sales of US$286m in 2020, down by 30% year-on-year from US$408m in 2019. The company said that it recorded a stronger performance in the second half of 2020, according to the Manila Times newspaper. Second-half sales fell by 14% year-on-year to US$165m. Its full-year net income fell by 44% to US$70.1m from US$124m.
Chief executive officer Paul Ang said "The halting of our operations due to pandemic-related restrictions took a hit on our results in the first half of 2020 but the remaining half proved that we are well-positioned to bounce back. We saw improvement in our volume and we are able to bring down our production cost in 2020.” He added "We will continue to work on aggressive marketing and better pricing strategies for this year and this will be complemented by focusing on cost control initiatives in our operations, which will enable us to deliver better returns in 2021."
China: Asia Cement (China) has predicted a year-on-year increase of 110 - 130% in its consolidated net profit in in the first quarter of 2020. The company has attributed the anticipated growth to increased sales volumes during the quarter.
China: Huaxin Cement has forecast consolidated net profit growth of 104% - 111% year-on-year to US$55.7m – US$59.6m in the first quarter of 2021 from US$53.7m in the same period in 2020. The group said that cement volumes rose by 60% and concrete and aggregate volumes grew by over 200%. The cement producer has attributed the growth to the impact of coronavirus upon its business at the start of 2020.
Qatar: Qatar National Cement Company recorded a profit of US$19.3m in the first quarter of 2021. Reuters has reported that the figure represents a 29% year-on-year rise from US$14.9m from the same period in 2019. The cement producer reported a 6% year-on-year fall in revenue to US$182m and a 13% fall in net profit to US$40.8m in 2020.
Sinai Cement’s loss increases in 2020
06 April 2021Egypt: Sinai Cement’s consolidated net loss before minority interests was US$35.6m in 2020. The figure represents an increase of 26% year-on-year from US$28.3m in 2019, according to Mubasher.
Egypt: South Valley Cement’s full-year sales in 2020 were US$22.3m, down by 20% year-on-year from US$28.0m. Loss also fell by 20%, to US$16.0m from US$20.1m in the 2020 financial year, according to Mubasher.
CNBM’s cement sales revenue falls in 2020
31 March 2021China: CNBM’s revenue rose by 0.5% year-on-year to US$38.9bn in 2020 from US$38.7bn in 2019. Its profit for the year grew by 17% to US$3.30bn from US$2.81bn. However, its cement sales revenue fell by 3% to US$19.5bn from US$20.0bn and its concrete sales fell slightly to US$7.80bn. Cement-based earnings before interest, taxation, depreciation and amortisation (EBITDA) fell slightly to US$5.73bn and concrete-based EBITDA rose by 53% to US$794m. Both cement and concrete sales volumes grew slightly to 340Mt and 112Mm3 respectively. Overall group revenue rose due to sales by the group’s new materials and engineering divisions. The share of its overseas revenue fell to 2% in 2020 from 13% in 2019 due to declines in most regions with the exception of the Americas and Oceania.
“2020 was an extraordinary year, faced with severe and complicated domestic and international environment, especially the serious impact from Covid-19,” said Cao Jianglin, chairman of CNBM. He added, “The foundation of economic recovery in China is not yet solid, and the task of industry transformation and upgrading is arduous.” The company plans to continue implementing supply side structural supply reforms and work towards government CO2 emission peak targets and carbon neutrality plans.
France: Hoffmann Green Cement’s consolidated net revenue fell by 19% year-on-year to Euro504,000 in 2020 from Euro620,000 in 2019. Net loss was Euro6.12m, up by 41% from Euro4.34m. Loss in earnings before interest, taxation, depreciation and amortisation (EBITDA) more than doubled to Euro4.13m from Euro1.85m. During the year, the group began construction of its second cement plant, in Vendée, France.
Co-chairs Julien Blanchard and David Hoffman said, “We are happy with what we achieved at Hoffmann Green in 2020, in spite of the pandemic. We signed numerous technical and commercial collaboration contracts with key players in the construction sector such as Groupe GCC, KP1, Cemex and Eiffage Génie Civil, taking our order book to over 190,000t to date.” They reconfirmed the target of a 3% French cement market share by 2025/2026, adding, “The commercial dynamic continues at the beginning of 2021 with the signing of contracts with Ouest Réalisations for the construction of housing, and EdyCem to develop low carbon footprint concretes.”
Blanchard and Hoffmann called 2020 ‘the year of increasing production volumes,’ adding that the group expects on-going and future environmental legislation in all its regions to bolster demand.
Dangote Cement grows sales and earnings in 2020
25 March 2021Nigeria: Dangote Cement has recorded sales of US$2.52bn in 2020, up by 16% year-on-year from US$2.18bn in 2019. Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 21% to US$1.17bn from US$965m. Total cement sales volumes rose by 8% to 25.7Mt from 23.7Mt and Nigerian cement sales rose by 13% to 15.9Mt from 14.1Mt. Highlights for the year included the start of clinker exports from the Apapa terminal and the commissioning of the Onne cement terminal in Nigeria. The group also commissioned a gas power plant in Tanzania.
Chief executive officer Michel Puchercos said, “Despite the impact of the Covid-19 pandemic, 2020 was a record year for Dangote Cement across the board. Several firsts made 2020 a productive year such as our maiden clinker shipment, maiden bond issuance and successful buyback programme. We increased our capacity by 3Mt/yr in Nigeria, commissioned our two export terminals and commissioned our gas power plant in Tanzania. All this was achieved whilst we focused on protecting our people, customers, and communities from the impact of the pandemic.”
Shanshui Cement increases profit as sales fall in 2020
25 March 2021China: Shanshui Cement’s consolidated profit attributable to shareholders increased by 7% year-on-year to US$488m in 2020. Its operating revenues fell by 3% year-on-year to US$3.19bn. ET Net News has reported that the company will not distribute dividends.