Displaying items by tag: Results
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.
India: Sagar Cements has reported that in May 2015 it produced 1.59Mt of cement, up by 14.1% year-on-year. In the same month it dispatched 1.51Mt of cement, up by 13.2% year-on-year.
Egypt: Arabian Cement reported an 11% year-on-year increase in revenues to US$76.7m during the first quarter of 2015. This, however, did not lessen the significant drop in the company's net profits, which plummeted by 52% to US$7.34m. Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 19% year-on-year to US$24.1m. Profit before tax declined by 45% to US$11.3m.
The company said that higher transportation costs led to higher costs of production and impacted the quarterly results. The company added that the devaluation of the Egyptian Pound against the US Dollar had influenced the company's foreign losses, which surged to US$4.06m in the first quarter of 2015, compared to a US$301,422 loss in the same period of 2014.
Arabian Cement said that, despite it being a tough quarter, it had succeeded in operating at above 90% clinker capacity and also increased its sales volume. Its market share also grew by 1%, rising from 7% in the first quarter of 2014 to 8% in 2015.
India: India Cements has benefitted from better realisations during the fourth quarter of 2015, which ended on 31 March 2015, when it reported a net profit compared to a loss in the same quarter in the previous year.
For the fourth quarter of 2015, India Cements reported a net profit of US$5.73m compared to a net loss of US$24.6m in the same quarter of its 2014 financial year. Total income fell to US$163m, down from US$176m in 2014. Total expenses fell to US$132m from US$158m. Power and fuel costs fell to US$42.8m from US$54m. Transportation and handling costs were also lower at US$32.5m, compared to US$42.7m in 2014.
N Srinivasan, India Cements vice chairman and managing director, said that cement prices stabilised during the fourth quarter of 2015 and lower costs of production due to lower fuel prices had contributed to better realisations. However, he said that demand continues to be slow as infrastructure demand is yet to pick up.
With a cement production capacity of about 15 – 16Mt/yr, the company is operating at a capacity utilisation of about 61%. Srinivasan said that even at this level, the company was in profit.
Ramco Cements reports 274% rise in Q4 profit
02 June 2015India: Ramco Cements has reported that its quarterly profits rose by 274% to US$14.6m due to better cost management and stable cement prices. Revenues grew marginally by 1.2% to US$156m. The company sold 1.88Mt of cement during the fourth quarter of 2015, down from 2.25Mt in the same quarter of the previous financial year.
For the fiscal year that ended on 31 March 2015, Ramco Cements achieved a profit of US$37.9m, a rise of 76% and a revenue of US$584m. It sold 7.67Mt of cement compared to 8.59Mt in the previous financial year.
"Our ability to manage costs and stable cement prices helped us in better financial performance," said A V Darmakrishnan, managing director and CEO of Ramco Cements. Forecasting demand for the current fiscal year, he said, "We are cautious and will wait."
Operating costs decreased because of cost reduction initiatives and falling fuel prices. However the reduction in costs was offset by an increase in royalty on limestone from US$0.986/t to US$1.25/t with effect from 1 September 2014.
Ramco Cements installed a new 0.95Mt/yr grinding plant in Gobburpalam Village, Vishakapatnam and commissioned it in March 2015.
India: Anjani Portland Cement has reported a net profit of US$2.48m in the quarter that ended on 31 March 2015 compared to a net loss of US$2.21m during the same quarter of 2015. Sales rose by 12.3% year-on-year to US$12.9m.
For the full year that ended on 31 March 2015, its net profit was US$2.62m compared to a net loss of US$3.04m during the previous year. Sales declined by 6.25% to US$4.06m in the 2015 financial year.
Colombia: Cementos Argos' net profit rose by 3.3% year-on-year to US$29m in the first quarter of 2015, which ended on 31 March 2015, due to increased sales in the US. The company posted an increase in income despite higher sales costs.
Its consolidated income rose by 28% to US$630m, while earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped by 18% to US$121m, the highest in the company's history. The increases were due principally to growth in the US, where cement income rose by 31% to US$264m.
"Today, 60% of Cementos Argos' income is generated outside of Colombia," said chief executive Jorge Mario Velasquez. "Added to the solid results in all our operations, dispatched volumes and generated EBITDA, we can be optimistic about 2015."
Costs for the company rose by 33.3% year-on-year to US$469m in the first quarter because of bad weather in the US and increased transportation costs in Colombia caused by a brief truckers' strike.
Meanwhile, Jaime Hill Tinoco, president of Holcim Colombia, has confirmed the company's upcoming projects, which include the second stage of the connection between Puente Aereo (Terminal 2) and the new terminal at El Dorado airport in Bogota, La Felicidad shopping centre and a residential development in Madrid (Cundimarca). Hill said that Holcim will install plants at the building sites and added that it will also supply cement for the construction of a Grupo Carso mall in Bogota.
With regards to infrastructure projects, Hill said that Holcim is participating in the construction of the Bogota-Villavicencio road and in the second section of the Ruta del Sol road project. He added that the expansion of infrastructure initiatives would benefit the cement sector, improving the transport of material.
In January - March 2015, Holcim Colombia posted a sales increase of 5%, below the national industry's average growth rate of 7.5%. Hill said that the difference was due to the truckers' strike, which forced distribution to be halted for a week. The company has forecast a 5% sales rise by the end of 2015, representing 15% of the 12.5Mt tonnes of cement that the industry expects to produce during the year. By 2020, it is expected that Colombia will produce 15Mt/yr of cement.
Arabian Cement’s first quarter profit down
26 May 2015Egypt: Arabian Cement has reported that in the first three months of 2015, which ended on 31 March 2015, its net profit fell to US$7.52m versus a net profit of US$15.3m a year earlier.
India: JK Cement's net profit fell by 8.5% year-on-year to US$10.9m in the fourth quarter of 2015, which ended on 31 Mar 2015. The net profit for the whole 2015 financial year rose by 61.7% year-on-year to US$24.6m.