Belarus: Despite revenue increases for two of its three major cement companies, the cement industry in Belarus recorded net losses in 2023. According to Business World Magazine Ukraine, Krychaucementnashyfer saw a 9.3% rise compared to the previous year, while Krasnaselskstroymateryjaly experienced a 5.6% year-on-year rise in revenue. Conversely, Belarusian Cement Plant's revenue declined by 2.9%. Overall, the sector's losses totalled nearly US$64.2m, representing a year-on-year increase of 50%.
Krychaucementnashyfer's losses escalated nearly fourfold to US$36.9m, while Krasnaselskstroymateryjaly's losses doubled to US$16.9m. However, Belarusian Cement Plant managed to reduce its net loss by 16%, resulting in a loss of US$10.5m.