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News Vicem's full-year sales grow in 2022

Vicem's full-year sales grow in 2022

Written by Global Cement staff 09 January 2023
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Vietnam: Vicem recorded full-year sales of US$1.68bn during 2022, up by 17% year-on-year. The producer sold 27.5Mt of cement, down by 6.7% year-on-year. Export sales volumes declined more sharply than those on the domestic market. Vicem responded to the cost impacts of economic disruptions arising from the on-going Russian invasion of Ukraine by raising its cement prices. Nonetheless, its profit fell by 30% year-on-year to US$63.9m.

Vietnam News Summary has reported that Vicem is aiming to achieve sales growth of 4% year-on-year in 2023, to US$1.74bn. Export sales growth prospects are strong, since China resumed its import of foreign goods at the end of December 2022. China consumed 54% of all Vietnamese cement exports in 2021.

Last modified on 11 January 2023
Published in Global Cement News
Tagged under
  • Vietnam
  • VICEM
  • Results
  • Price
  • Ukraine
  • War
  • Invasion
  • costs
  • target
  • Outlook
  • China
  • market
  • Export
  • Export
  • GCW590
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