Displaying items by tag: Profit

Germany: HeidelbergCement’s first-half consolidated net sales increased by 8% year-on-year in 2021 to Euro8.94bn from Euro8.25bn in the first half of 2020. Cement sales grew by 10% to 61.8Mt from 56.3Mt. Sales volumes increased in all regions, with the sharpest increase of 19%, to 15.3Mt from 12.9Mt, occurring in Western and Southern Europe. The group recorded a profit for the period of Euro825m, compared to a Euro3.1bn loss in the first half of 2020. It reduced its net debt by 17% to Euro7.5bn from Euro9bn.

Chair Dominik von Achten said “HeidelbergCement has closed the first half of 2021 with an excellent result. We have achieved record values in relevant key figures. Our ‘Beyond 2020’ strategy is taking effect: we are making good progress in all areas. Against this background, we have announced an extensive share buyback programme for the first time in the company's history. With this, we want our shareholders to participate appropriately in the economic success of our company.”

China: Asia Cement China recorded a 23% year-on-year rise in net sales in the first half of 2021 to US$820m from US$668m in the first half of 2020. Its profit for the period also rose, by 21% to US$171m from US$141m.

The company increased its cement sales to US$796m, up by 26% from US$630m. It said that total Chinese cement sales hit a record high during the half of 1.15Bnt, up by 14%. Average cement prices were lower than in the corresponding period of 2020. The company said that it expects prices to rise after bad weather ends in late August and the supply of steel and aggregates resumes fully.

Greece: Titan Group’s consolidated net sales in the first half of 2021 were Euro821m, up by 4% year-on-year from Euro786m, with an 11% rise in cement and clinker sales. The group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) also recorded a 4% increase, to Euro143m from Euro137m. Net profit more than doubled to Euro58m from Euro22m.

Chair Dimitri Papalexopoulos said “Looking ahead we see continuing top line growth, with gains in both volumes and prices. In the short term, the spike in freight rates and energy costs is not allowing us to enjoy the kind of impact in margins which top line growth would imply.”

Taiwan: Taiwan Cement’s revenue came to US$2.88bn in the first nine months of 2020, a year-on-year decrease of 6%. However, its operating income was US$800m, a 9% year-on-year increase compared to the first nine months of 2019. Its net income was US$640m, 4% higher than a year earlier.

“The fourth quarter is the traditional peak season for the cement market and we remain optimistic about our performance,” said Edward Huang, Senior Vice President and Spokesperson of Taiwan Cement.

Australia: Adelaide Brighton has recorded a net profit of US$21.1m in the first half of 2020, compared to a US$13.0m loss in the first half of 2019. Revenues fell by 7.3% to US$508m from US$548m due to a 12% construction decline over the period, according to the company. Residential construction fell by 16%, however mining and infrastructure activity remained consistent with levels in the first half of 2019. Adelaide Brighton said, “Cement demand is likely to continue to benefit from a strong production outlook for gold, nickel, and iron ore in particular, and stable demand from the alumina sector.”

Pakistan: Lucky Cement’s profit for the 2020 financial year ended 30 June 2020 was US$19.9m, down by 68% year-on-year from US$62.4m in the 2019 financial year. The company recorded a 13% sales drop to US$249m from US$285m, which it said was due to the impacts of the coronavirus pandemic.

Malaysia: Cahya Mata Sarawak recorded a profit of US$8.72m in the first half of 2020, down by 63% year-on-year from US$23.4m in the first half of 2019. Total sales declined by 40% to US$117m from US$196m. Cement sales also declined, by 31% to US$46.8m from US$68.1m. The company attributed this to the impacts of the coronavirus lockdown.

China: Anhui Conch Cement has recorded a profit of US$2.33bn in the first half of 2020, up by 5.3% year-on-year from US$2.21bn in the first half of 2019. Revenues rose by 3.3% to US$10.7bn from US$10.4bn. The company attributed the increases to the resumption of construction across Asia after the coronavirus lockdown and increase sales in western China throughout the period.

China: China Resources Cement (CRC)’s first-half net profit increased by 11% year-on-year to US$541m in 2020 from US$481m in 2019. This was in spite of a 3% fall in revenues to US$2.18bn from US$2.25m. CRC said, “The gradual stabilisation of infrastructure construction and the real-estate market - as well as the steady progress of urbanisation and rural construction - will be conducive to the stable development of the cement industry."

India: Aditya Birla subsidiary Grasim Industries recorded a loss of US$36.0m in the first-quarter of the 2021 financial year (1 April 2020 – 30 June 2020), compared to US$26.9m profit in the first quarter of the 2020 financial year. The company attributed this to a 61% year-on-year fall in sales to US$260m from US$668m due to ‘lower realisation and weak demand’ during coronavirus lockdown. Consolidated cement sales over the period were US$228m, down by 29% year-on-year from US$320m.