Displaying items by tag: Results
Pakistan: Lucky Cement’s sales have risen by 13% year-on-year to US$514m for the six months to 31 December 2016 from US$454m in the same period in 2015. Its profit after tax rose by 14% to US$83m from US$73m. It attributed the increase in revenue on rising sales volumes and its cost of sales fell due to lower fuel costs.
Its cement sales volumes rose by 5.4% to 3.5Mt from 3.3Mt, although exports fell by 16.3% to 0.75Mt from 0.9Mt. Overall the cement producer reported that its market share in Pakistan grew slightly to 18.8% due to an increase in its share of domestic sales.
The cement producer reported that construction at its Punjab cement plant project is awaiting governmental approvals and that it is expected to start in June 2017. A waste heat recovery unit at its Pezu plant is planned to finish commissioning and start operation by the end of January 2017. A joint-venture 1.18Mt/yr plant in the Democratic Republic of the Congo started commercial operation in December 2016 and a 0.87Mt/yr cement grinding plant in Iraq is expected to come online in August 2017.
Siam Cement Group Building materials Division’s sales fall by 4% to US$4.9bn in 2016
25 January 2017Thailand: Siam Cement Group’s Building Materials division’s sales revenue fell by 4% year-on-year to US$4.9bn in 2016. Its profit fell by 17% to US$241m. It blamed the falling sales and profit on increased competition, falling earnings before interest, taxation, depreciation and amortisation (EBITDA) and increased depreciation expenses. Overall, across the group’s chemical and packaging division, sales revenue fell but profits rose in 2016 driven by the chemical business.
Roongrote Rangsiyopash, the president and chief executive officer of Siam Cement Group, said the company is focusing on expansion strategies within the Association of Southeast Asian Nations (ASEAN) region. Its 1.8Mt/yr cement plant in Myanmar started commercial production in early 2017 and a cement plant in Laos is undergoing commissioning.
Eagle Materials revenue up by 5% to US$933m in first nine months of 2017 financial year
25 January 2017US: Eagle Materials revenue has risen by 5% year-on-year to US$933m in the first nine months of its financial year to 31 March 2017 from US$891m in the same period in the previous year. Its net earnings rose by 43% to US$162m from US$113m. Sales from its cement division rose by 7% to US$359m from US$335m. However, sales volumes fell slightly to 3.89Mt. Sales volumes of cement from its joint-venture in Texas grew faster than wholly-owned plants, despite cement prices falling as production shifted from oil well cement to construction-grade cement over the past year.
India: UltaTech Cement’s net profit has risen by 20% year-on-year to US$292m for the first nine months of its financial year to the 31 March 2017 from US$244m in the same period in the pervious year. Its total income from operations rose slightly to US$3.04bn. However, net sales fell slightly in the third quarter.
The cement producer reported that its board of directors had approved the setting up of a 3.5Mt/yr cement plant at Dhar, Madhya Pradesh for a cost of around US$382m. Commercial production at the plant is anticipated to start in early 2019. The plant is intended to grow the company’s markets in southwest Madhya Pradesh.
UltaTech Cement added that it had deposited a penalty of US$17.3m, 10% of a fine imposed by the Competition Commission of India (CCI) in August 2016. It is also facing a separate fine for U$10m from the CCI in relation to alleged misconduct in Haryana. The company intends to appeal both fines.
Najran Cement’s net profit drops by over half in 2016
20 January 2017Saudi Arabia: Najran Cement’s net profit has fallen by 51.2% year-on-year to US$33m in 2016 from US$68.1m in 2015. Its revenue fell by 35% to US$1.89bn from US$2.9bn. It blamed the fall in earnings on lower sales volumes due to low cement demand. It said this was caused by a slowdown of construction activities, an increase in energy prices and finance expenses.
Raysut Cement’s revenue falls by 2% to US$240m in 2016
16 January 2017Oman: Raysut Cement’s revenue has fallen by 2% year-on-year to US$240m in 2016 from US$246m in 2015. Its profit after tax rose by 1% to US$55m from US$54m. Previously the cement producer reported that it had faced ‘severe’ price competition and volatility in the export market.
Steppe Cement revenue falls by 8% to US$54m in 2016
13 January 2017Kazakhstan: Steppe Cement’s revenue has fallen by 8% year-on-year to US$54m in 2016 from US$59m in the same period in 2015. Sales volumes of cement fell by 4% to 1.57Mt from 1.64Mt. The drop in revenue and sales volumes was blamed on increased competition and the start-up of two cement kilns in the country.
The cement producer reported that the country’s cement consumption fell by 8% to 8.9Mt in 2016. It imported 0.5Mt and exported 0.4Mt, with imports falling and exports rising respectively. The cement producer said that its market share was 17% in 2016. It will publish its full financial results for the year in April 2017.
India: Dalmia Bharat's income has risen by 14% year-on-year to US$577m in the first half of its financial year, which ended on 30 September 2016, from US$505m in the same period of the previous financial year. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 28% to US$135m from US$105m. Its sales volumes rose by 21% to 7.18Mt from 5.95Mt. The cement producer explained that it had focused on building up existing capacity and entering new markets in Uttar Pradesh and Madhya Pradesh during the period.
Birla Corporation sales rise in first half of 2016
25 November 2016India: Birla Corporation’s sales revenue has risen by 6.2% to US$280m in the first half of its financial year, which ended on 30 September 2016, from US$263m in the same period of 2015. Its net profit more than tripled to US$22.3m from US$7.04m. Sales from its cement division rose by 5.6% to US$256m from US$242m. No comment on the results was given but in August 2016 Birla completed its acquisition of Reliance Infrastructure for US$702m.
Cementos Argos sees sales fall in Colombia so far in 2016
24 November 2016Colombia: Cementos Argos’ sales revenue in Colombia have fallen by 8.3% to US$629m for the first nine months of 2016 from US$686m in the same period in 2015. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 12.9% to US$171m and its cement sales volumes fell by 17.9% to 3.78Mt. It blamed this on a fall in demand for bulk cement in the country caused by a delay in infrastructure projects.
“The US, Honduras and Panama continue to drive the company’s results and offer great opportunities for growth, offsetting the slowdown in demand we faced in the Colombian market as a result of the delay in the start of the construction of the 4G projects during the second half of the year,” said Juan Esteban Calle, chief executive officer of Cementos Argos.
Overall the cement producer reported that its sales revenue rose by 13.1% to US$2.05bn, that its EBITDA rose by 13.8% to US$396m but that its cement sales volumes fell by 1.4% to 10.5Mt.