Displaying items by tag: Results

Switzerland: The first nine months of 2025 yielded a 2% year-on-year decline in sales for Holcim, from US$15.3bn to US$15bn. Nonetheless, the company succeeded in raising its recurring earnings before interest and taxation (EBIT) by 2% to US$2.86bn. It recorded year-on-year organic growth of 3% in sales and 11% in EBIT. Holcim noted the centrality of sustainability in its growth in the period. Its sales of ECOPlanet reduced-CO₂ cement rose from 32% to 35% of total cement sales, while its sales of ECOPact reduced-CO₂ concrete sales from 26% to 31% of total ready-mix concrete sales. Its use of construction-demolition materials (CDM) in production rose by 20% year-on-year.

During the period, Holcim continued its on-going diversification through the acquisition of Germany-based walling systems producer Xella. At the same time, the company’s cementitious division continued to target ‘profitable growth in highly attractive markets,’ as exemplified through its Australia-based joint venture Cement Australia’s acquisition of BCG Cement. Across all divisions, Holcim closed 14 value-accretive transactions in the period. It spun off Holcim North America and sold its Nigerian cement business and Iraq-based Karbala Cement Manufacturing.

CEO Miljan Gutovic thanked Holcim’s 45,000 employees, saying "We are delivering on Holcim's vision to be the leading partner for sustainable construction. With accelerating net sales growth in the third quarter of 2025, we delivered strong profitable growth for the first nine months of the year, with a 10% increase in recurring EBIT in local currency and an industry-leading margin of 19%. Margin expansion was driven by our high-value strategy, scaling up our sustainable offering to meet customer demand, and accelerating decarbonisation and circular construction for profitable growth.” Gutovic confirmed Holcim’s full-year guidance for 2025, namely: recurring EBIT growth of 6 – 10% in local currency, with a margin of above 18% and free cash flow before leases of US$2.51bn.

India: Sagar Cements reported sales of US$146m in the first half of the 2026 financial year, up by 22% year-on-year. Its costs also rose steeply, by 11%, to US$149m. As such, its loss before interest and taxation was US$2.58m. This represents a successful reduction of 82%, from US$14.4m in the first half of the 2025 financial year. Sagar Cements proceeded with expansion projects at its Andhra Cements and Jeerabad cement plants ‘as per plan.’ Subsidiary Andhra Cements has since commissioned a six-stage preheater at its Dachepalli Plant in Andhra Pradesh on 23 October 2025. By the end of the 2026 financial year, Sagar Cements expects to commission a 4.35MW waste heat recovery plant at its Gudipadu plant in Andhra Pradesh and complete a 50% capacity expansion at its Jeerabad plant in Madhya Pradesh, up to 1.5Mt/yr. The group forecast full-year sales volumes of 6Mt.

Capital Markets News has reported that Joint Managing Director Sreekanth Reddy said "Our focus on operational efficiency and cost optimisation helped us sustain healthy margins even in a softer pricing environment. EBITDA/tonne remained resilient, supported by higher plant utilisation levels and disciplined cost management across the value chain. We have maintained our growth momentum in the second quarter of the 2025 financial year, despite the seasonal impact of the monsoon. As expected, realisations softened during the quarter; however, the overall operating environment remained stable, with costs remaining low.” Looking ahead to the current, second half of the financial year, Reddy said "With the monsoon season now behind us, we expect demand momentum to pick up, led by the continued push in infrastructure, housing and other construction activities.”

Nigeria: Lafarge Africa recorded sales of US$533bn in the first nine months of 2025, up by 63% year-on-year from US$327m. Its operating profit more than doubled to US$204m, from US$88.9m in the first nine months of 2024. The company grew its profit after tax to US$142m, more than triple its nine-month 2024 figure of US$41.1m. The producer attributed the growth to an increase in sales volumes and operational efficiency gains.

CEO Lolu Alade-Akinyemi said "Building on the performance from previous quarters, the third quarter of 2025 showcased our cost discipline, strategic market positioning, unwavering commitment to value creation and strong operational efficiency – demonstrated by a 7% year-on-year improvement in capacity utilisation."

Mexico: GCC reported sales of US$1.05bn in the first nine months of 2025, up by 2% year-on-year from US$1.03bn. The company’s US sales rose by 8% year-on-year to US$784m, while sales in Mexico fell by 13% to US$265m. Cost of sales rose by 9% year-on-year, resulting in earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$349m.

CEO Enrique Escalante said “While the third quarter of 2025 unfolded in a mixed environment, GCC executed with discipline and delivered revenue growth, underpinned by strong performance in our US concrete business.” Looking ahead to the current, fourth quarter of 2025, Escalante said “Our focus remains on rigorous cost control, plant reliability and investing to strengthen our network, supporting our long-term strategy to compound value into 2026.”

India: Aditya Birla Group subsidiary UltraTech Cement’s revenues grew by 21% year-on-year to US$2.33bn in the second quarter of the 2026 financial year. ET Now News has reported that the producer’s profit was US$148m, up by 75% year-on-year. During the quarter, UltraTech Cement’s costs rose by US$2.28/t, contributing towards a 45% quarter-on-quarter drop in its net profit.

In the 2026 financial year to-date, UltraTech Cement acquired a 76% stake in fellow producer The India Cements and acquired putty producer Birla White Wallcare outright.

India: Dalmia Bharat recorded sales of US$849m in the first half of the 2026 financial year, which began on 1 April 2026. This corresponds to a year-on-year rise of 5%. The producer also increased its earnings before interest, taxation, depreciation and amortisation (EBITDA), by 43%. As a result, its profit after tax more than tripled to US$76.4m.

During the first half of the 2026 financial year, Dalmia Bharat sold 13.9Mt of cement, down by 2% year-on-year from 14.1Mt in the first half of the 2025 financial year.

Kazakhstan: Steppe Cement has announced that its revenue for the third quarter of 2025 has grown, principally due to increased sales volumes. The company’s revenue for the period rose by 21% year-on-year to US$34.0m. Sales volumes grew by 13% to 0.70Mt.

For the nine months that ended on 30 September 2025, Steppe Cement saw its revenues rise by 28% year-on-year to US$74.9m. Total sales volumes came to 1.55Mt, 15.7% higher than the 1.34Mt sold in the first nine months of 2024.

Steppe Cement’s CEO Javier del Ser Perez said "During the first nine months of 2025, the company has achieved record production volumes of clinker and cement, exceeding the results of any comparable period in previous years. The plant continues to increase production and remains focused on driving further growth whilst limiting the capex required."

Steppe Cement estimates that total cement demand for 2025 in Kazakhstan will be 13Mt, with the group's market share expected to stay at 14 - 15%.

India: Dalmia Bharat has reported an almost five-fold increase in consolidated net profit for the second quarter of the 2026 financial year (FY2026), which ended on 30 September 2025. The company’s net profit for the quarter was US$27.1m, up from US$5.6m a year earlier. The company’s revenue from operations rose by 10.7% year-on-year to US$388.3m.

At the same time, Dalmia Bharat announced that its 3.6Mt/yr Umrangso clinker line commenced trial production in September 2025 and is on schedule to start commercial production by the start of 2026. This will increase the company’s installed cement capacity from 49.5Mt/yr to 53.1Mt/yr.

Pakistan: Flying Cement reported a profit after tax of US$2.27m for the year ending 30 June 2025, a sharp rise from US$0.18m in the 2024 financial year. Net sales more than doubled to US$39.8m, supported by strong volume growth and favourable market conditions. Gross profit increased to US$6m, while operating profit rose to US$4.2m from US$0.65m the previous year.

Rwanda: Cement producer Cimerwa will invest about US$190m in a new clinker plant, aiming to reduce its dependence on imports and save an estimated US$2.88bn in foreign exchange over the next 25 years. CEO Mangesh Kumar Verma said the plant, which will be built in Musanze, is expected to begin operations within two years with a capacity of 0.72Mt/yr of clinker. The plant will meet the company’s local demand of 0.54Mt/yr, with the surplus exported. CIMERWA CEO, Mangesh Kumar Verma, said that if limestone reserves prove larger than expected, there is provision to add another line. The investment follows rising costs from importing clinker, which currently amount to around 0.36Mt/yr at a cost of US$3.7m–4.0m. Verma added that clinker makes up about 70% of cement production costs, rising to 95% when imported.

Cimerwa’s unaudited financial results for the nine months ending 30 June 2025 showed that revenues were up by 50% year-on-year to US$75m, driven largely by its July 2024 acquisition of Prime Cement. However, profit before tax dropped by 23% to US$7.7m, reportedly due to input cost increases and continued depreciation of the Rwandan Franc. The company said that the Musanze clinker plant will stabilise production costs and position Rwanda as a net exporter, supporting large-scale infrastructure projects such as the New International Airport in Bugesera.