Displaying items by tag: Results

India: In the fourth quarter of the fiscal year ending 31 March 2020 Dalmia Bharat sold 5.17Mt of cement worth US$326m, down by 13% year-on-year from US$374m in the same period of the previous fiscal year. Net profit for the quarter was US$3.16m. The company said that the figure was “not comparable to the previous year’s fourth quarter profit of US$34.6 due to a change in reporting standards, according to the Press Trust of India. Full year net profit fell by 32% to US$31.3m from US$45.9m and revenues grew by 2% to US$1.27bn from US$1.25bn.

Egypt: Misr Cement Qena’s first quarter sales were US$50.4m in 2020, up by 2.0% year-on-year from US$49.1m in the first quarter of 2019. Daily News Egypt has reported that the company’s debts on 31 March 2020 were US$30.0m, down by 20% from US$37.5 on 31 December 2019. Misr Cement Qena managing director Tarek Talaat said, “The extraordinary performance in the quarter will contribute to alleviating the repercussions of the coronavirus outbreak on the company’s 2020 results.” Talaat urged the “revitalisation of demand” to boost prices. Egyptian producers produced 78.0Mt of cement in 2019, 29.3Mt surplus to the domestic cement demand of 48.7Mt/yr.

Kazakhstan: Steppe Cement recorded earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$23.9m in 2019, up by 12% year-on-year from US$21.4m in 2018. Sales volumes of cement remained stable at 1.7Mt with local sales increasing by 4% and exports decreasing by 29% due to increased competition and negative currency effects. Steppe Cement said that overall domestic demand was 8.9Mt, up by 2% from 8.7Mt in 2018. The company operated at 88% production capacity and production costs per tonne rose by 10% due to increases in fuel and transportation prices.

India: HeidelbergCement has recorded a profit of US$8.77m in the three months to 31 March 2020, up by 8.9% year-on-year from US$8.06m over the corresponding period of the 2018 - 2019 fiscal year. Sales fell by 4.7% to US$67.5m from US$70.8m. HeidelbergCement India has attributed the profit to a decrease in operating expenditure of 8.6%, to US$50.7m from US$55.4m, according to Dion News Service.

Morocco: HeidelbergCement subsidiary Ciments du Maroc made sales of US$88.4m in the first quarter of 2020, down by 9.8% year-on-year from US$100m in the corresponding quarter of 2019. Cement volumes fell by 9.9%. Ciments du Maroc said that it increased its capital expenditure by 43% to US$1.51m from US$824,000.

Nigeria: Dangote Cement has recorded earnings before interest, taxation, depreciation and amortisation of US$293m in the first quarter of 2020, up by 2.2% year-on-year from US$287m in the first quarter of 2019. Sales rose by 3.8% to US$639m from US$616m. Cement sales volumes fell by 0.6% amid a total suspension of South African operations from late March 2020 due to the coronavirus lockdown.

Dangote Cement chief executive officer (CEO) Michael Puchercos said, “2020 started strongly, with growth across the board despite the early effects of the COVID-19 pandemic. We are closely monitoring all markets according to the guidance provided by the authorities in each country. We continue to provide superior services and deliver high quality products to our customers.”

India: Birla Corporation has recorded a consolidated net profit of US$25.8m over the three months ending 31 March 2020, the fourth quarter of the Indian fiscal year 2020, up by 52% year-on-year from US$16.9m in the fourth quarter of the fiscal year 2019. Sales were US$223m, down by 5.5% from US$247m. This was due to the impacts of the coronavirus outbreak, which ended dispatches from late March 2020.

Birla Corporation said, “Despite muted market conditions, the company was able to raise price realisation through judicious adjustment of geographic and product mix aimed at increasing the share of blended and premium cements.”

Birla Corporation’s full year net profit for the fiscal year 2020 was a record US$66.7m, nearly doubling from US$33.7m in the fiscal year 2019.

Japan: Sumitomo Osaka Cement’s net profit in the fiscal year that ended on 31 March 2020 was US$102m, up by 40% year-on-year from US$72.7m in the fiscal year 2019. Sales fell by 2.4% to US$2.28bn from US$2.34bn. This was due to the collapse in cement demand following the coronavirus state of emergency declared in Tokyo and six other prefectures on 7 April 2020.

Brazil: Votorantim Cimentos recorded a loss of US$68.4m in the first quarter of 2020 compared to a loss of US$2.71m in the corresponding period of 2019. However, sales rose by 2.4% year-on-year to US$465m from US$454m.

Votorantim Cimentos said that it is ‘closely monitoring the situation’ resulting from the coronavirus outbreak and is ready ‘to institute new measures should they be needed.’ It said that it has ‘a solid liquidity position, reinforced by available revolving credit facilities, amounting to US$500m.’

“The company is in a strong position to combat the impacts of the COVID-19 crisis,” it said.

Japan: Taiheiyo Cement’s net profit in the fiscal year that ended on 31 March 2020 was US$363m, down by 9.9% year-on-year from US$403m in the fiscal year 2019. Sales fell by 3.5% year-on-year to US$8.21bn from US$8.51bn. Taiheiyo Cement said that it experienced a, “decrease in aggregate sales volumes due to the end of demand related to the Tokyo Olympics and Paralympics and reconstruction demand from the Great East Japan Earthquake” in the quarter ended 31 March 2020.