Displaying items by tag: Results

India: Birla Corporation recorded nine-month consolidated sales of US$751m so far in the 2023 financial year, up by 20% year-on-year from US$628m in the first nine months of the 2022 financial year. The company made a net loss of US$5.37m however, compared to a net profit of US$34.7m during the first nine months of the 2022 financial year.

Birla Corporation did not publish a figure for fuel and electricity costs, however its raw materials costs rose by 25% year-on-year to US$111m, while its 'other expenses' more than doubled to US$565m.

UAE: RAK White Cement recorded consolidated sales of US$67.4m in 2022, up by 3.3% year-on-year from US$65.3m in 2021. The producer recorded a 36% year-on-year profit drop to US$5.74m from US$8.95m.

During the third quarter of the year, RAK White Cement secured the approval of its board of directors to delist its shares from the Boursa Kuwait stock exchange.

Tunisia: Les Ciments de Bizerte recorded a full-year consolidated turnover of US$40.1m in 2022, corresponding to a drop of 5.4% year-on-year from 2021 levels. The producer's clinker production fell by 24% year-on-year to 538,000t. African Manager News has reported that the company faced a forced stoppage during the year due to a disruption to its raw materials supply. Meanwhile, its costs increased amid rises in the price of petcoke, electricity, diesel and packaging materials.

Mexico: GCC recorded full-year sales of US$1.17bn in 2022, up by 13% year-on-year from US$1.04bn in 2021. The producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) also rose, by 7.4% year-on-year to US$363m from US$338m.

The producer increased its cement sales volumes by 2.9% in the US, while its cement volumes dropped by 2.9% in Mexico. Prices rose across both regions, by 12% and 13% respectively. An increased cost of production and increased freight and maintenance costs partly offset the rise.

GCC chief executive officer Enrique Escalante said “GCC’s focus on operational excellence enabled us to deliver strong results in an unprecedented market environment. We continue to anticipate challenges, mitigating their potential effects while also capitalising on important opportunities. Our team will continue to adapt to the evolving operating dynamics in the year ahead, as these will present further occasions for us to again leverage our exceptional competitive advantages.”

Qatar: Qatar National Cement Company (QNCC) recorded full-year sales of US$195m in 2022, down by 14% year-on-year from US$226m in 2021. The producer recorded a net profit for the year of US$62.4m, up by 1.2% from US$61.7m.

India: Orient Cement recorded sales of US$89.2m in the third quarter of its 2023 financial year, up by 18% year-on-year from US$75.3m in the third quarter of its 2022 financial year. The producer's profit was US$3.36m, down by 37% year-on-year from US$5.32m.

China: Jiangxi Wannianqing Cement has become the latest China-based cement producer to report a fall in its profit year-on-year for 2022. It recorded a net profit in the range of US$149 - 168m, down by 63 - 71% year-on-year from US$236m in 2021.

Pakistan: Lucky Cement recorded sales of US$876m in the first half of its 2023 financial year, up by 42% year-on-year from US$616m in the first half of the 2022 financial year. It sold 3.57Mt of cement and clinker, down by 24% year-on-year from 4.7Mt. The producer's costs rose by 50% to US$585m from US$391m. It recorded a profit of US$73.1m, up by 6.8% from US$68.4m.

During the half-year period, total national cement sales dropped by 17% year-on-year to 20Mt, while Pakistan's cement exports fell by 49% to 1.7Mt. The aftermath of flooding, high interest rates, inflation and cost of goods and cuts to government spending all impacted the domestic cement market, while 'global recessionary trends' cut into exports, according to Lucky Cement.

Lucky Cement holds a 15% share in the Pakistan market and a 34% share in the export market.

India: Shree Digvijay Cement recorded sales of US$25.2m during the third quarter of the 2023 Indian financial year (October – December 2022). This corresponds to a rise of 35% year-on-year from US$18.6m in the third quarter of the 2022 financial year. The producer overcame continued high costs during the period to record a profit of US$1.25m, up by 40% year-on-year from US$891,000.

Thailand: Siam Cement Group (SCG) recorded consolidated sales of US$17.4bn in 2022, up by 7% year-on-year from 2021 levels. Its net profit was US$652m.

During 2023, SCG plans to invest US$1.22 - 1.53bn in capital expenditure.