Displaying items by tag: Results

India: Shree Cement’s revenue rose by 24% year-on-year to US$1.80bn in the year to 31 March 2019 from US$1.46bn a year earlier. Its profit fell by 27% to US$146m from US$199m. Its power and fuel costs increased by 56% to US$444m from US$284m.

India: JK Cement’s income rose by 4% year-on-year to US$767m in the year to 31 March 2019 from US$740m in the same period in 2018. Its profit fell by 8% to US$37.9m from US$41m, mainly due to tax expenses.

Malaysia: LafargeHolcim has completed the divestment of its activities in Malaysia with the disposal of its entire 51% shareholding in Lafarge Malaysia to YTL Cement for around Euro872m. The group says that the transaction will reduce its net financial debt by close to Euro530m. Together with the divestment of its activities in Indonesia, Singapore and the Philippines, this transaction is expected to ‘significantly’ reduce the company’s net debt to recurring earnings before interest, taxation, depreciation and amortisation (EBITDA) ratio.

US: Eagle Materials has blamed falling sales from its Heavy Materials sector, including cement, concrete and aggregates, on ‘unusually’ wet weather. Its revenue from this market fell by 1% year-on-year to US$677m in the year to 31 March 2019 from US$685m in the same period in 2018. Cement sales volumes dropped slightly to 5.34Mt and concrete volumes by 12.5% to 0.8Mm³. Its operating earnings decreased by 10% to US$177m. Overall, the company’s sales and earnings grew slightly boosted by sales from its gypsum division.

Switzerland: LafargeHolcim’s net sales grew by 2.2% year-on-year to Euro5.28bn in the first quarter of 2019 from Euro5.17bn in the same period in 2018. Its recurring earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 15.55 to Euro717m from Euro620m. Its cement sales volumes remained stable at 50Mt and sales volumes of ready-mix concrete increased by 2.1% to 11.1Mm³.

“We had a very strong start of the year and I am especially pleased to see our strong sales growth and an over-proportional increase in profitability. Our momentum is very positive and the Q1 2019 is the third consecutive quarter with recurring EBITDA growing faster than net sales,” said chief executive officer (CEO) Jan Jenisch. He added that the group’s decision to sell its Southeast Asian operations was, “executed with very attractive valuations, allowing us to achieve a new level of financial strength.”

By region the group performed poorly in Asia Pacific, Middle East Africa and Latin America, with falling net sales. Earnings also fell in Middle East Africa. However, significant sales increases in Europe and North America more than compensated for this.

Colombia: Cementos Argos’ revenue grew by 14% year-on-year to US$657m in the first quarter of 2019 from US$576m in the same period in 2018. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 3.7% to US$94m from US$90.7m. Its cement sales volumes increased by 4.7% to 3.86Mt from 3.69Mt. Ready-mixed concrete sales volumes increased by 2.3% to 2.5Mm³. Revenue grew fastest in the US followed by Colombia but it decreased in the Caribbean and Central America.

Japan: Sumitomo Osaka has blamed falling income from its cement business on rising coal prices. Its overall net sales rose by 2.5% year-on-year US$2.92bn the year to 31 March 2019 from US$2.24bn in the same period in 2018. It net income nearly halved to US$71.2m from US$134m. Despite national exports falling in the cement sector the company said that it was focusing on an overseas cement strategy.

Japan: Taiheiyo Cement’s sales rose by 5% year-on-year to US$8.36bn in the year to 31 March 2019 from US$7.95bn in the same period in 2018. Its net income grew by 12.8% to US$397m from US$352m. The group’s cement sales volumes rose by 3.5% to 15.4Mt. However, its exports fell by 18% to 3.5Mt. It noted that infrastructure projects for high-speed railway and the Tokyo Olympics had driven local demand for cement.

Bangladesh: Premier Cement’s profits in 2018 have been reduced due to rising raw material costs. Its net profit fell by 21% year-on-year to US$5.24m in 2018 from US$6.37m in 2017. Its revenue rose by 8% to US$119m from US$110m. Kazi Md. Shafiqur Rahman, the company secretary of Premier Cement Mills, also blamed market competition for the fall in profit.

India: Mangalam Cement’s sales revenue rose by 7% year-on-year to US$170m in the year to 31 March 2019 from US$159m in the same period in 2018. It made a loss of US$1.38m compared to a profit of US$1.62m in 2018. Its power and fuel costs grew by 28% to US$54.3m.