Displaying items by tag: Results

Peru: Cementos Pacasmayso has announced its financial results for the fourth quarter of and the full year 2017.

In the fourth quarter of 2017, sales volumes of cement, concrete and blocks increased by 7.3%, primarily due to increased sales volumes to the self-construction segment and to a pick up in public sector spending. The company’s cement-based earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 13.9% to US$32.3m, but consolidated EBITDA decreased by 35.7% due to a write-off in a water-desalination project.

For the full year, sales of cement, concrete and blocks decreased by 0.8%, despite the significant decline in sales volume during the first four months of the year due to the effects of the El Niño. It is important to note that year-on-year sales volume has increased steadily every month, from May 2017 through to the end of the year. Cement EBITDA for the year reached US$114.9m, a decrease of only 2.2%, despite the aforementioned detrimental El Niño effects on both sales and costs.

UAE: Fujairah Cement Industries Co (FCIC) has reported a decline of 9% in its profits for the fourth quarter of 2017 compared to the same period a year ago. Earnings decreased to about US$2.7m in the fourth quarter of 2017 from US$3.0m in the fourth quarter of 2016.

During the 2017 fiscal year, the cement producer posted a drop of 35% in its profit to US$10.1m compared to US$15.4m in 2015. This was in part due to a 7% decrease in revenue and higher general and administrative expenses, which rose by 29% to US$6.4m.

Italy: The Board of Directors of Buzzi has approved the preliminary accounts for 2017, which see sales of cement at 26.8Mt, an increase of 4.4%, and consolidated revenues of Euro2.67bn, an increase of 5.1% year-on-year.

In Italy, Buzzi’s position benefited from the takeover of Zillo Group, which helped to raise clinker and cement volumes by 19.3%. However, average selling prices were down ‘siginificantly’ year-on-year. Overall consolidated sales were up by 14.0% year-on-year at Euro428m. Consolidated sales would have increased by 2% in the absence of the Zillo acquisition.

In Germany, cement sales were up by 4.5%, with total sales of Euro588m, a 2.7% year-on-year rise. In Luxembourg and the Netherlands, cement sales were also up by 4.5% year-on-year at Euro187m.

Sales were also improved in Poland (+0.7%), Czechia (+8.2%), Russia (+1.5%), the USA (+0.2%) and Mexico (12.7%), while they declined in Ukraine (-1.5%).

UAE: National Cement Company (NCC) has reported a decline in its profit to US$14.59m in the full year 2017 from US$24.24m in 2016. Revenues also fell to US$55.77m from US$64.11m.

US: Eagle Materials has reported its financial results for the third quarter of the 2018 fiscal year, which ended on 31 December 2017. It recorded record revenues of US$359.4m, a rise of 19% compared to the same period of the 2017 fiscal year

Third quarter gross profit improved by 8%, reflecting the financial results of the recently acquired cement plant in Fairborn, Ohio and related assets (the Fairborn Business) and improved net sales prices across most of Eagle’s businesses. Cement, Concrete and Aggregates Cement revenues for the third quarter, including joint venture and intersegment revenues, totalled US$161.6m, 17% higher than the same quarter last year. Total cement sales volumes for the quarter were 1.3Mt, 12% greater than the same quarter a year earlier. Like-for-like average net cement sales prices increased by 4% and sales volumes declined by 2%, respectively, versus the third quarter of fiscal 2017. This comparison excludes cement sales from the Fairborn Business since its acquisition date.

Operating earnings from cement activities for the third quarter of the 2018 fiscal year were a record US$52.5m and were 16% greater than the same quarter a year ago. The earnings improvement was driven primarily by earnings from the Fairborn Business and improved average net cement sales prices offset by lower sales volumes from Eagle’s legacy facilities.

India: Birla Corporation has declared its results for the quarter and nine months that ended on 31 December 2017. The consolidated results include the financials of Reliance Cement Company Private Limited (RCCPL), a wholly-owned material subsidiary of the Company.

The corporation made 3.06Mt in the third quarter, a 22% rise compared to the same period of 2016-2017. In the nine months to 31 December 2017 it produced 9.1Mt of cement, a 11.9% increase year-on-year. It despatched 3.04Mt of cement compared to 2.49Mt in the quarter and 8.98Mt in the nine month period, a 12% rise year-on-year.

In financial terms it took in US$215m in gross sales during the quarter, a 12.7% rise year-on-year. In the nine month period it took in US$667m, a 27.8% rise. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months were US$23.6m and for the nine months they were US$93.0m.

Mexico: Cemex’s operating earnings have fallen in 2017 due to a lower contribution from the US and South America despite growth in Mexico and Europe. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 7% year-on-year to US$2.57bn in 2017 from US$2.75bn in 2016. Its net sales grew by 2% to US$13.7bn from US$13.4bn and its cement sales volumes remained stable at 68.5Mt. The cement producer also reported an unexpected loss in net income of US$105m in the fourth quarter of the year, which it blamed on taxes on other costs.

“Although 2017 was a challenging year… We had important headwinds during the year: underperformance in Colombia, Egypt and the Philippines as well as increased energy costs, mainly in Mexico. As we have done in the past, we focused on the variables we control to dampen these headwinds and we continued to deliver solid results,” said Fernando A Gonzalez, Chief Executive Officer (CEO) of Cemex.

Denmark: Cement plant manufacturer FLSmidth has announced its financial results for 2017, which show, overall, its strongest order intake for four years. Total orders grew by 6% year-on-year in 2017, bolstered primarily by the company’s Minerals division.

Cement sector orders for the year were Euro611.0m, 1% lower than the Euro615.0m seen in 2016. Revenue from cement sector orders came to Euro547.9m, 5% lower than the US$576.0m orders received in 2016.

“2017 probably marked the trough of the business cycle and, based on our good positioning and strong life-cycle solutions, we expect our business to start growing again in the coming years. Our order intake increased and the momentum in the mining sector continues in 2018, while cement market conditions are expected to remain unchanged,” said CEO Thomas Schulz.

For 2018, FLSmidth anticipates an overall revenue from all activites of Euro2.42-2.68bn (2017 was Euro2.42bn).

Japan: Taiheiyo Cement has released its financial results for the nine months to 31 December 2017. They show a 10.3% rise in revenue for the nine month period to US$5.96bn from US$5.40bn in the first nine months of 2016. Its operating profit was up by 10.1% from US$403m to US$444m over the same period but its net profit fell by 43% to US$297m from US$520.9m. For the full year to 31 March 2018, Taiheiyo Cement advises that it anticipates a revenue of US$7.9bn, an operating profit of US$611m and a net profit of US$347m.

India: Cement maker ACC Ltd has announced that its fourth-quarter profit for 2017 was more than double that of the same period of 2016. Its profit rose by 126% to US$32.1m in the quarter that ended on 31 December 2017, from US$14.1m in 2016. Its net sales for the quarter were 30% higher at US$531m.