Displaying items by tag: Results
Mexico: Cemex’s net sales have risen by 3% year-on-year to US$3.2bn in the first quarter of 2016 when adjusted for ongoing operations and for currency fluctuations. Its adjusted gross profit rose by 10% to US$1bn and its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 3% to US$583m before adjustment. The Mexico-based cement producer attributed the rising sales to higher prices and sales volumes increases in selected territories.
“We continue to see favourable results from the implementation of our value-before-volume strategy, with increases in sequential pricing in our three core products,” said Cemex chief executive Fernando A Gonzalez.
The company’s overall cement sales volumes rose slightly to 15.6Mt from 15.5Mt. By region, cement volumes rose by 8% in the US, by 3% in South American, Central America and the Caribbean and by 10% in Asia, Middle East and Africa. Volumes remained static in Europe and fell by 13% in Mexico.
Vietnam: Ha Tien 1 Cement has said that its net profit fell by 48% year-on-year to US$5.86m in the first quarter of 2016. It blamed the drop in profit on currency variations. Its net revenue rose by 9% to US$78m in the period.
China: Asia Cement’s revenue has fallen by 11% year-on-year to US$185m in the first quarter of 2016. Its gross profit fell by 45% to US$18m. The Chinese cement producer blamed the result on falling sales prices.
Taiwan Cement pins hopes on stronger second half of 2016
14 April 2016Taiwan: Taiwan Cement Corp has conceded that its business has remained weak since 2015. It hopes to see rise in sales in the second half of 2016 said Taiwan Cement chairman Leslie Koo in comments reported by the Tapei Times.
Cement shipments to China grew by 18% year-on-year to 10.8Mt in the first quarter of 2016 from 9.2Mt in the same period in 2015. Taiwan Cement senior vice-president Edward Huang said that overall demand for cement and clinker in 2016 should remain the same or improve from 2015. He citied transportation infrastructure projects in Taiwan and potential demand in China as measures for growth.
It expects cement production overcapacity to end in 2016 as the Chinese government continues to close cement plants. It also expects cement prices to start to grow again throughout the year based on price rises in the first quarter of 2016. The company plans to build four production lines in 2016. A new cement plant in Shaoguan, China, is expected to start production in the first half of 2017.
Taiwan Cement’s net income fell by 47% to US$178m in 2015 from US$334m in 2014. Sales dropped by 21% to US$2.89bn from US$3.65bn. It blamed the result on falling prices and demand in China due to oversupply of cement.
Kazakhstan: Steppe Cement has reported a fall in cement sales for the first quarter of 2016. Its sales revenue fell by 12% year-on-year to US$5.98m from US$6.79m in the same period in 2015. Cement sales volumes fell slightly to 190,000t from 193,000t. The company intends to regain market share and increase sales in the south of the country in the rest of the year.
Overall the cement producer said that the cement market in Kazakhstan decreased by 16% year-on-year in 2016. However, the market reduction slowed in March 2016. The company estimates that Kazakhstan’s cement market will reduce to 8.5Mt in 2016 from 9.6Mt/in 2015.
Yanbu Cement profit falls in first quarter of 2016
07 April 2016Saudi Arabia: Yanbu Cement Company has reported an 11.1% year-on-year fall in its net profit to US$49m in the first quarter of 2016 from US$55m in the same period in 2015. The cement producer has blamed the profit loss on a fall in sales and a rise in fuel prices.
Brazil: Votorantim’s cement sales volumes fell by 6% year-on-year to 35Mt in 2015 from 37Mt in 2014. However, net revenue from the group’s cement business rose by 6% to US$3.82bn. The Brazilian industrial group blamed the loss of sales volumes on the poor economic situation in Brazil. However, its revenue rallied due to currency variations and growing sales outside of Brazil.
Overall across all business sectors Votorantim reported that its revenue rose by 11% to US$8.57bn. This was supported by higher metal prices in Brazil and positive effects from the consolidation of the group’s foreign operations. Net income dropped by 77% to US$103m
China: China Resources Cement has issued a profit warning for the first quarter of 2016. It expects its profit for the three-month period to drop ‘significantly’ year-on-year due to lower prices of cement and clinker in China. The Chinese cement producer reported a profit of US$85.1m for the first quarter of 2015.
Cementos Bío Bío profit rises by 4% to US$30m in 2015
01 April 2016Chile: Cementos Bío Bío has reported that its profit rose by 4% year-on-year to US$30m in 2015 from US$28.5m in 2014. Its revenue rose by 4.4% to US$417m. It attributed the growth to higher cement sales and better prices. The Chilean cement producer also announced that it is upgrading the milling capacity at its lime plant in Antofagasta.
China Shanshui Cement reports loss of US$998m in 2015
31 March 2016China: China Shanshui Cement Group has reported a loss of US$998m in 2015 compared to a net profit US$53.9m in 2014. Its revenue fell by 28% year-on-year to US$1.73bn. The loss was blamed on a write-down of goodwill assets and an increase in administrative expenses, following a prolonged power struggle between shareholders and management, according to Dow Jones. The Chinese cement producer reported a US$364m write-down of goodwill assets due to forecasted poor results and over-payments for cement plant acquisitions. Administrative expenses increased by 86% to US$359m.