Displaying items by tag: Results

India: India Cement has blamed poor quarterly results on ‘severe’ competition in the south of the country and bad weather. For the year to date, its revenue grew by 3% year-on-year to US$576m in the nine months to 31 December 2018 from US$561m in the same period in 2017. Its profit more than halved to US$3.62m from US$9.24m.

India: JK Lakshmi improved its fuel consumption to 702kCal/kg of clinker in the October – December 2018 quarter from 705kCal/kg of clinker in the same period in 2017. Its revenue rose by 3.5% year-on-year to US$380m in the nine months to 31 December 2018 from US$368m in the same period in 2017. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 8% to US$45.4m from US$49.4m. The company said that it had been ‘facing pressure’ from increased petcoke and diesel prices. It also said that a 20MW thermal power plant and its Orissa grinding plant project were on schedule and are expected to be commissioned by March 2019.

Germany: Claudius Peters’ revenue rose by 7.5% year-on-year to Euro103m in 2018 from Euro95.6m in 2017. Its orders in hand fell by 31% to Euro56.8m from Euro81.8m. The company said that it remained profitable despite low volumes, with only China exceeding expectations. It also reported that a number of major projects were delayed, mainly in Russia and one in Germany. Overall, company owner Langley Holdings said that despite falling revenue and profit, it had experienced a ‘satisfactory’ year following a record year in 2017.

Italy: Buzzi Unicem’s net sales rose by 2.4% year-on-year to Euro2.87bn in 2018 from Euro2.81bn in 2017. Its cement and clinker sales volumes increased by 4.3% to 27.9Mt from 26.8Mt. Ready-mix concrete sales fell by 3.6% to 11.8Mm³ from 12.3Mm³.

It attributed cement and clinker sales increase to acquisitions in Italy and Germany and good market conditions in the Czech Republic, Poland and Russia. However, poor weather hampered business in the US and a ‘strong’ decrease in business levels was reported in Ukraine. In Italy the cement producer benefited from its acquisition of Cementizillo in the second half of 2017. In Germany it purchased Seibel & Söhne and noted demand for oil well cements.

Japan: Sumitomo Osaka’s sales have risen but national exports have fallen. The cement producer has starting promoting exports to counteract this trend. Its sales revenue rose by 4% year-on-year to US$1.71bn in the nine months to 31 December 2018 from US$1.65bn in the same period in 2017. Its operating profit fell by 27% to US$91.9m from US$125m. The company said that local cement demand grew by 1.3% to 32.5Mt in the reporting period. However, exports fell by 12.8%. Overall, national cement sales volumes decreased by 1.6% to 40.3Mt.

Cambodia: Siam Cement Group’s (SCG) sales in Cambodia grew by 15% year-on-year to US$396m in 2018 due to higher sales of cement. The Thai company operates six subsidiaries in the country, including Kampot Cement, according to the Phnom Penh Post newspaper. Chiv Sivpheng, general manager of the Cambodia Constructors Association, said that demand for construction materials had been increasing annually as the population increases and urbanisation intensifies.

India: Anjani Portland Cement’s revenue grew by 16% year-on-year to US$44.5m in the nine months to 31 December 2018 from US$39.1m in the same period in 2017. However, its expenses rose by 20% to US$42.1m from US$35m due to fuel and logistic cost increases. Its profit before tax fell by 31% to US$2.54m from US$3.68m.

Mexico: Cemex’s operating earnings before interest, taxation, depreciation and amortisation (EBTIDA) rose by 1% year-on-year on a like-for-like basis to US$2.56bn in 2018 from US$2.57bn in 2017. It has attributed this decrease in real terms to lower earnings from its territories outside of Mexico and the US. Its net sales rose by 5% to US$14.4bn from US$13.6bn.

“We are pleased with our 6% top-line growth during 2018, supported by higher consolidated volumes and prices in our three core products. Operating EBITDA grew by 1% on a like-to-like basis in this period,” said Fernando A Gonzalez, the chief executive officer (CEO) of Cemex. He added the company had reduced its total debt to nearly US$1bn in 2018.

By region, Cemex’s sales and earnings rose in Mexico and the US, fell in the rest of the Americas and were mixed in Europe. In the Asia, Middle East and Africa sales increased due to growth in the Philippines but earnings fell.

China: Data from the National Development and Reform Commission reports that the profits of local cement companies more than doubled to US$64bn in 2018 compared to 2017. Cement output grew by 3% year-on-year to 2.18Bnt, according to the Xinhua News Agency. Cement sector growth has been attributed to rising cement prices. In December 2018 the average price of cement was 10.6% higher than at the same time in 2017.

Pakistan: Thatta Cement’s sales rose by 35% to US$16.7m in the half-year to 31 December 2018 from US$12.4m in the same period in 2017. Its cost of sales rose by 48% to US$12.5m from US$8.4m. Its profit for the period fell by 6.5% to US$2.2m from US$2.3m.