Displaying items by tag: Results

Egypt: Sinai Cement Company reported a consolidated net profit of US$6.4m for the first quarter of 2024, a turnaround from a net loss of US$1.2m in the same period last year. The company's net sales reached US$24.6m, down slightly from US$26.3m in the first quarter of 2023.

India: Heidelberg Cement India recorded a 38% year-on-year increase in net profit, reaching US$5.7m for the quarter ended 31 March 2024, up from US$4.1m. The company's net revenue fell slightly by 1% year-on-year to US$71.5m from US$72.3m. Operating expenses decreased by 5% to US$61m, contributing to a 29% year-on-year growth in operating profit to US$10.7m. Interest expenses and taxation also rose by 31% and 29%, reaching US$967,000 and US$2m respectively.

Japan: Sumitomo Osaka Cement recorded sales of US$1.42bn in the 2024 financial year, up by 9% year-on-year from 2023 financial year levels. The company’s net profit was US$104m, up by 32%. Its cement sales were US$1.02bn, up by 14% year-on-year.

Japanese cement demand for the financial year totalled 34.6Mt, down by 7% year-on-year. Under its 2025 Medium-Term Management Plan, Sumitomo Osaka Cement has continued work to increase its profitability and to expand its overseas business in Australia, as well as developing new ventures in the decarbonisation field.

India: Anjani Portland Cement’s consolidated sales were US$74.9m in the 2024 financial year, which ended on 31 March 2024. This corresponds to a year-on-year decline of 6% from US$80m in the 2023 financial year. Group operating expenditure rose by 4% to US$81m from US$77.4m. As such, the company recorded a loss of US$4.72m.

Colombia: Cementos Argos reported revenues of US$1.3bn in the first quarter of 2024, 6.4% year-on-year lower than the same period of 2023. The company recorded adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of US$291m, 2% above the value in the same period of the previous year. It reported decreases of 13% and 6% in cement and concrete volumes respectively, which it attributed to there being five fewer business days in the 2024 period due to the timing of Easter holidays.

Saudi Arabia: The net profit of Southern Province Cement rose by 27% year-on-year to US$16.5m in the first quarter of 2024 from US$13.0m a year earlier. However, its revenues fell by 16% relative to the first quarter of 2023, reaching US$66.9m.

Tunisia: Les Ciments de Bizerte has announced that it experienced financial difficulties during the first quarter of 2024. The company was unable to import petcoke due to a lack of cash and looming loan repayments, leading to the total suspension of clinker production. This left the company only able to grind existing clinker and operate its quay. As a result, the company’s total sales in the first quarter of 2024 fell by 53% year-on-year compared to the same period in 2023, falling from US$8.3m to US$3.9m.

Brazil: Votorantim Cimentos reported a significant decrease in net profit to US$3.3m in the first quarter of 2024, down from US$15.2m in the same period last year. Despite a 1% increase in cement sales volume to 8.1Mt, net revenue fell by 6% to US$1bn, primarily attributed to the inflation of the Brazilian real. The company's adjusted earnings before inflation, taxation, depreciation and amortisation (EBITDA) remained stable at US$149m.

In Brazil, revenue stayed level at US$585m, though EBITDA dropped by 6%. North American operations saw a 7% decline in revenue, impacted by lower sales volumes and adverse exchange rates, with EBITDA at US$3.3m, improving from a US$9.2m loss in the first quarter of 2023.

India: Shree Cement recorded a net profit of US$80m for the quarter ending 31 March 2024, up by 21% year-on-year from US$65m. The company's net revenue also rose by 7% to US$610m during the same period, compared with US$573m in 2023. Operating expenses decreased by 3% year-on-year to US$472m.

Japan: Taiheiyo Cement recorded a profit of US$276m for the financial year ending March 2024, following a loss of US$212m in 2023. Sales significantly increased to US$5.7bn. Domestic demand for cement is stable due to urban redevelopment projects and the construction of new logistics facilities. On the other hand, rising costs and delays to construction work and longer construction periods due to a shortage of workers resulted in output declining by 7.3% year-on-year to 34.6Mt.

Looking ahead to the 2025 financial year, Taiheiyo Cement expects a 43% year-on-year rise in net profit to US$396m and anticipates sales to grow by 8.3% year-on-year to US$6.1bn.