Displaying items by tag: Results
Nigeria: Lafarge Africa is considering raising up to US$248m in a share sale. The sale will take place in the fourth quarter of 2018 said chief financial officer Bruno Bayet whilst reporting the company’s half-year results, according to Bloomberg. Its sales rose by 5% year-on-year to US$448m in the first half of 2018 from US$427m in the same period in 2017. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 25% to US$76.4m from US$102m. The subsidiary of Switzerland’s LafargeHolcim blamed its falling earnings on poor performance in South Africa.
India: ACC’s net sales rose by 14% year-on-year to US$1.06bn in the first half of 2018 from US$934m in the same period in 2017. Its net profit after tax rose by 8% to US$125m from US$108m. Its sales volumes of cement increased by 8% to 14.4Mt from 13.3Mt.
Neeraj Akhoury, managing director and chief executive officer (CEO) of ACC, said that input prices, such as fuel and slag, and logistics costs were continuing to mount. However, the company has made operational and productivity efficiencies that had partly offset this.
Qatar: Qatar National Cement’s sales revenue dropped by 21.9% year-on-year to US$119m in first half of 2018 from US$153m in the same period in 2017. Its net profit rose slightly to US$46.2m, according to the Qatar Tribune newspaper.
Nigeria: The recovery of the local economy has driven the performance of Dangote Cement’s sales in the first half of 2018. Its sales revenue grew by 16.9% year-on-year to US$1.34bn from US$1.15bn. Revenue in Nigeria rose by 18.1% to US$959m and in the rest of Africa (Pan Africa) they rose by 11.4% to US$386m.
“Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14% and revenues rose by more than 18%. Pan-African operations saw a slight fall in volumes but both revenues and earnings before interest taxation depreciation and amortisation (EBITDA) increased because of better pricing and currency conversion effects.” said Joe Makoju, Group Chief Executive Officer. Makoju also mourned the loss of colleagues who were been killed in a gun attack in the group’s subsidiary in Ethiopia in May 2018.
Sales volumes of cement in the group’s Pan Africa region fell by 3.9% to 4.57Mt from 4.75Mt due to lower sales in Tanzania, disruptions due to civil unrest in Ethiopia and a reduction in exports from Nigeria to Ghana. However, the group noted stronger performances in other Pan-African territories, notably Zambia, and volumes outside of Nigeria benefited from maiden first half sales from Congo and increased volumes in Sierra Leone. Sales volumes in Nigeria increased by 13.9% to 7.81Mt from 6.86Mt. EBITDA rose by 20.8% to US$685m from US$568m with a particular emphasis on earnings in the group’s Pan-Africa region.
Peru: Cementos Pacasmayo’s sales revenue grew by 7.5% year-on-year to US$184m in the first half of 2018 from US$171m in the same period in 2017. Its production of cement rose by 3.9% to 1.08Mt from 1.04Mt and clinker production rose by 15.9% to 0.87Mt from 0.75Mt. Its consolidated earnings before interest taxation depreciation and amortisation (EBITDA) rose by 12.2% to US$54.7m from US$48.7m.
The cement producer said that, despite growth, it felt that the pace was lower than its expectations. Infrastructure reconstruction in the north of the country had suffered delays and self-construction has grown at lower rates than expected. It party blamed this on the country’s qualification to 2018 FIFA World Cup as funding was focused on ‘soccer-related categories.’
India: Shree Digvijay’s income rose by 11% year-on-year to US$17m in the quarter to 30 June 2018 from US$15.4m in the same period in 2017. It profit for the period increased by nearly four times to US$0.86m from US$0.22m.
India: UltraTech Cement’s consolidated net sales rose by 27% year-on-year to US$1.3bn in the quarter that ended on 30 June 2018 from US$1.01bn in the same period in 2017. However, its profit after tax dropped by 30% to US$92m from US$131m.
The cement producer also said that it agreed to buy the cement assets of Century Textiles & Industries in the reported quarter and that it commissioned a 1.75Mt/yr grinding unit at its Manawar plant in Dhar District, Madhya Pradesh.
Russia: Iskitimcement’s sales volumes fell in the first half of 2018 due to a poor construction market. Its sales dropped by 7.5% year-on-year to 0.42Mt from 0.44Mt. A particular dip was noted in Western Siberia.
Raysut Cement’s turnover grows in first half of 2018
16 July 2018Oman: Raysut Cement’s turnover grew by 14.5% to US$111m in the first half of 2018 from US$97.2m in the same period in 2017. However, its profit after tax fell by 85% to US$1.8m from US$12m. The cement producer also noted that it is expected to receive US$10m from insurance claims relating to a loss of a ship and other claims relating to Cyclone Mekunu.
Norm Cement’s sales grow by 47% in 2017
13 July 2018Azerbaijan: Norm Cement’s sales grew by 47% year-on-year to US$74m in 2017 from US$50.4m in the same period in 2016. Its operating profit more than tripled to US$22.6 from US$6.62m. However, the cement producer reported that it paid US$25,000 in income tax in 2017 compared to US$710,000 in 2016.