Displaying items by tag: Results

Kazakhstan: Steppe Cement reported a net profit of US$1m for the year ending 31 December 2024, down by 78% from US$4.5m in 2023, due to rising input costs, particularly a 42% increase in electricity tariffs and a one-off VAT charge. Sales rose by 4% to US$84.9m, while earnings before interest, taxation, depreciation and amortisation (EBITDA) fell to US$7.5m from US$12.4m in 2023. The producer retained a 14.5% market share in a growing national cement market, where consumption increased t 11.9Mt, from 11.3Mt in 2023. A completed upgrade to Line 6 raised clinker output to 1.47Mt.

South Africa: PPC’s revenues fell by 1.9% year-on-year in the 12 months to 31 March 2025, decreasing to US$560m. However, earnings before interest, tax, depreciation and amortisation (EBITDA) surged by 28% to US$88m.

CEO Matias Cardarelli said that PPC has had to focus on internal corrections to grow its earnings and unlock underutilised value for the company. He explained that the company had performed ‘ahead’ of what it had expected for the period under review. “There was a narrative that the only problems that PPC was having were the problems connected to the economy, and the cement sector in South Africa had not grown for more than 10 years. Whereas that was not completely the case. That had a negative impact on the company,” said Cardarelli.

PPC is building a new 1.5Mt/yr plant in the North West Province with China’s Sinoma, as well as a new solar power plant in Zimbabwe as it invests further into the company at a time when the costs of electricity and other inputs are spiking. The company said that imports of cement into its regional markets were not a major worry as it was increasing its competitiveness against rival local and imported products. “In South Africa, we remain cautiously optimistic for the announcement by the new government of big infrastructure plans,” Cardarelli added.

Egypt: South Valley Cement recorded net losses after tax of US$6.4m in the first quarter of 2025, up by 586% year-on-year from US$0.9m in the first quarter of 2024. The company’s sales rose to roughly US$13.3m in the first quarter of 2025, up from about US$6.6m in the same period of 2024.

India: Adani Group has reported record earnings for the 2025 financial year (FY2025), which ended on 31 March 2025. It finished the 12 month period with consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of US$10.5bn across all of its operations. This represented a 8% rise year-on-year, and was mainly driven by continued expansion in the conglomerate’s infrastructure sectors.

Cement sales from its subsidiaries Ambuja Cement and ACC rose to more than 100Mt following expansions at several plants. It has plans to invest US$100bn across all of the sectors it is involved in, including ports, mining, cement, steel, power and more, by 2031.

“India’s consumption engine remains strong,” said Karan Adani, CEO of Adani Ports & SEZ and chair of ACC. “As manufacturing grows, trade volumes will surge.”

Pakistan: The cement sector experienced a ‘substantial’ increase in earnings during the third quarter of fiscal year 2025 (from 1 January 2025 to 30 April 2025), according to a recent analysis of eight key producers. Collective earnings grew by a factor of 2.3 compared to the same period of the 2024 fiscal year (FY2024), primarily driven by an expansion in profit margins and dividend income from subsidiaries.

This came despite a comparatively modest 2% year-on-year increase in local cement dispatches, with the increased margin largely attributed to lower coal prices, alongside enhanced cost efficiencies and higher prices.

Looking forward, expectations are high for further margin gain. Rising cement prices, particularly in the north, are anticipated to support this trend. Additionally, continued low international coal prices are likely to benefit companies operating in the south.

US: Eagle Materials recorded net earnings of US$463m of in the 2025 fiscal year (FY2025), which ended on 31 March 2025. This represented a 3% year-on-year fall. The company achieved a record revenue of US$2.3bn, marginally higher than the amount seen in FY2024.

Eagle Materials’ revenues from its Heavy Materials segment, which includes cement, concrete and aggregates, fell by 2% year-on-year to US$1.4bn. Net earnings from this sector were US$320m, 6% lower year-on-year. Cement volumes were also down by 5% to 6.9Mt.

Commenting on the annual results, Michael Haack, President and CEO, said “We are pleased to report another year of strong financial, strategic and operational performance at Eagle. In FY2025, we generated record revenues of US$2.3bn and a gross profit margin of 30%, continued to advance our long-term growth and value-creation strategies and achieved important milestones in employee health and safety.”

Haack added that results in the Heavy Material sector were ‘dented’ by adverse weather in January and February 2025. Higher production costs also dragged on results as the company brought forward an annual maintenance outage at one facility and experienced weather-related interruptions at other facilities.

India: Shree Cement recorded sales of US$2.38bn in the 2025 financial year, down by 5.5% year-on-year. Operating expenses increased by 2.9% to US$2.17bn, resulting in earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$528m, down by 12% year-on-year. Net profit dropped by 50% to US$141m.

Shree Cement said that the fourth quarter of the 2025 financial year brought cement sales of 9.84Mt, up by 3.3% year-on-year from 9.53Mt in the fourth quarter of the 2024 financial year. Premium products contributed 16% of sales.

Italy: Buzzi recorded sales of €972m in the first quarter of 2025, up by 9% year-on-year, driven by acquisitions and ‘favourable’ exchange rates. Sales remained level year-on-year in Italy, but dipped by 3.3% in the US. During the quarter, Buzzi sold 6.38Mt of cement and 2.18Mm³ of ready-mix concrete, up by 23% and 4% respectively. The producer noted ‘solid’ shipments in Eastern Europe and signs of recovery in Central Europe.

Buzzi confirmed its 2025 guidance for operating results in line with 2024.

Thailand: Siam City Cement recorded sales of US$418m in the first quarter of 2025, up by 36% year-on-year. MarketScreener News has reported that group net profit fell by 12%, to US$30.7m.

Tunisia: Les Ciments de Bizerte recorded a 69% year-on-year fall in sales to US$9.2m in 2024, down from US$30.3m in 2023, amid a complete halt to clinker production.

The company published its financial statements for the year ending 31 December 2024, revealing production costs of US$7.6m and a record high net loss of US$14.9m, up from a US$11.3m deficit in 2023. It purchased 114,128t of clinker to attempt to supply the market, but failed to meet demand due to the production halt.