Displaying items by tag: Results
China: According to Reuters, Jiangxi Wannianqing Cement expects its net profit for the first half of 2015 to fall by 50 – 70% year-on-year to US$12.2 - 20.3m. It has blamed the fall on weak selling prices.
Czech Republic: According to CTK Business News, Ceskomoravsky Cement's profit rose by 25% to Euro27.2m in 2014, while its revenues grew by almost Euro3.69m to Euro102m.
Total cement consumption in the Czech Republic grew by nearly 4% to 3.34Mt in 2014, mainly thanks to the revival of the construction sector and favourable weather conditions.
"The value of public contracts increased by 6.7% in 2014, so we can view 2015 with slight optimism," said Ceskomoravsky Cement's board chairman Jan Hrozek.
Ceskomoravsky Cement, part of Germany's HeidelbergCement, supplied its products mainly for the modernisation of the D1 motorway in 2014. Its important projects also included repairs of concrete surfaces at Vaclav Havel Airport Prague.
Oman: According to Middle East North Africa Financial Network, Oman Cement has reported a more than 40% decline in net profit for the first six months of 2015. Net profit fell to US$14.1m from US$23.6m a year earlier.
Oman Cement's sales revenue declined marginally to US$65.7m in the first half of 2015 compared with US$66.7m in the corresponding period of 2014. Investment and other income fell sharply by 54.1% to US$4.68m from US$10.2m in 2014. As a result, Oman Cement's total revenue fell by 7.7% US$70.9m.
In June 2015, Oman Cement disclosed that due to operational difficulties it had to prolong the shutdown of one of its kilns. The kiln, with 4000t/day clinker production capacity, was closed for planned maintenance, which was to be completed in early June 2015. Oman Cement warned that the prolonged shutdown of a kiln would have an impact on its second-quarter performance.
Oman Cement's total expenses rose by 8.2% to US$55.3m in the first six months of 2015 compared to US$51.2m in the same period of 2014. The Ministry of Oil and Gas had increased the price of natural gas supplied to industrial companies by 100% from 1 January 2015. As such, Oman Cement's gas price was hiked from US$1.5/mmbtu to US$3/mmbtu. The company expects its gas costs to rise by an estimated US$17.2m in 2015.
China: According to Dow Jones, West China Cement expects to report a 'significant decrease' in net profit for the six months that ended on 30 June 2015, compared with the US$25.8m net profit for the six months that ended on 30 June 2014. West China Cement said that the anticipated decline is mainly tied to the low average selling price of cement in the past 12 months. It added that it was unable to maintain 'reasonable selling prices and healthy margins' in the southern part of Shaanxi.
Sephaku Cement reports strong results in 2015
29 June 2015South Africa: According to Business Day, Sephaku Cement is ramping up production towards a steady state at both its Delmas and Aganang plants.
In the first three months of 2015 to 31 March 2015, Sephaku Cement's revenue increased by 36%, while its earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 39% to US$11.3m. Its operating profit grew by 44% to US$8.87m and its profit after tax grew by 57% to US$3.83m. Sales revenues came mainly from the Delmas plant, which reached steady state production in November 2014. Clinker and cement production at Aganang started in August 2014 and October 2014, respectively.
"We are pleased to have commenced clinker production at Aganang because it has improved our cost efficiencies and enabled Sephaku to remain highly competitive," said CEO Lelau Mohuba.
Sephaku Cement's market penetration continued, as reflected by 29% higher quarterly sales of about US$42.4m. "Our main focus going forward is to sweat the assets and increase free cash flows in preparation for the distribution of dividends," added Mohuba. Sephaku said that the operating environment remained highly competitive, as overall cement demand remained flat and the number of producers had increased. Subdued demand from South Africa's construction industry also resulted in prices remaining flat on a year-on-year basis.
Oman: According to the Middle East North Africa Financial Network, Oman Cement has said that due to operational difficulties, it has had to prolong the shutdown of a 4000t/day kiln for planned maintenance. CEO Jamal al Hooti said that the closure has resulted in lower production and sales in recent months, which has had an impact on company performance during the current quarter.
Ukraine: Dyckerhoff Cement Ukraine has reported a net loss of Euro8136 for 2014, a net revenue of Euro398,695. Compared to 2013, its net loss fell 7.2-fold and its revenue fell 6.6-fold.
Dyckerhoff Cement Ukraine plans to acquire the Volyn Cement plant in Rivne and the YUGcement plant in Mykolaiv. The plants are already part of Dyckerhoff and would be turned into separate divisions in order to increase sales in Ukraine. The planned production capacity of Volyn Cement is 2Mt/yr, while YUGcement produces 1.25Mt/yr of cement.
Dyckerhoff Cement Ukraine's shareholders will also consider the early termination of powers of the current supervisory board and the election of a new one.
Czech Republic: A reviving building material market has raised Lafarge's sales in the Czech Republic by 5% year-on-year to US$35.2m in 2014, according to company spokesperson Milena Hucanova.
Profits from operations soared by 53% to US$6.55m. Hucanova attributed the growth to rising sales, an extraordinary revenue from the sale of carbon credits and operating savings. About 40% of the company's output was exported in 2014.
Czech cement consumption increased by more than 4% year-on-year to 3.5Mt in 2014 and the same growth rate is foreseen for 2015, said Hucanova. Investments are estimated at US$1.09m this year.
Azerbaijan: Holcim Azerbaijan's net profit fell from US$49.2m in 2013 to US$37.8m in 2014, a 23.2% drop year-on-year. Its revenue fell from US$102m to US$74.4m in 2014. At the same time, production costs fell from US$65.8m to US$53.4m in 2014.
Polish cement production up by 2.9% in May 2015
09 June 2015Poland: Cement production increased by 2.9% year-on-year to 1.62Mt in May 2015, according to Poland's Cement Producer Association. In the 12 months that ended on 31 May 2015, cement production grew by 1.5% year-on-year to 5.64Mt.