Displaying items by tag: Results

Brazil: Votorantim Cimentos recorded a 37% year-on-year rise in its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) to US$1.10bn in 2021. Its sales rose by 33% to US$4.71bn, while its profit more than tripled to US$2.1bn. The group’s sales grew in all of its regions. Its cement volumes totalled 37.2Mt, up by 15% from 2020 levels. Its capital expenditure (CAPEX) investments grew by 30% year-on-year to US$317m. It commissioned a new production line at its Pecém grinding plant in Brazil and continued to work on an upgrade to Cementos Artigas’ Sayago grinding plant in Uruguay, scheduled for completion in 2022. It also completed its acquisition of Spain-based Cementos Balboa.

Cement operations, logistics and adjacent businesses director Osvaldo Ayres Filho, who was serving as group CFO during 2021, said “We had a record financial performance in 2021, despite the challenging environment due to the ongoing effects of the pandemic and global inflationary pressure.” He added that the producer also made ‘significant strategic moves.’

Peru: Unacem’s sales were US$655m in 2021, up by 43% year-on-year from US$458m in 2020. It sold US$598m-worth of cement, up by 41% year-on-year from US$425m-worth, and exported US$30.3m of clinker, up by 35% year-on-year from US$22.5m-worth.

The producer said “2020 and 2021 have been years of great challenges for the world and our country because of the Covid-19 pandemic. In this context, the company implemented a plan of measures that has allowed it to cope with this crisis, having as a fundamental pillar ensuring the safety and health of its employees, the sustainability of the company and all its shareholders. Likewise, the Peruvian government continues to take the necessary actions to mitigate the effects of the third wave of Covid-19 as well as to safeguard the payment chain of companies.”

China: CNBM’s sales revenue grew by 7% year-on-year to US$43.1bn in 2021 from US$40.1bn. Its sales volumes of cement and clinker fell by 3% to 332Mt and 13% to 40.4Mt respectively. Concrete sales volumes increased slightly to 112Mm³. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 7% to US$8.11bn from US$7.6bn. The group increased its average cement prices by 10% in 2021. However, the group’s sales revenue from its engineering division fell by 29% to US$421m from US$590m, although its earnings recovered significantly. The group blamed this on “great uncertainty” in overseas markets due to the coronavirus pandemic although it said that producer’s willingness to invest was starting to recover.

Zhou Yuxian, chair of CNBM, said “The year 2021 was an extraordinary and tough year. In the face of complex environment abroad and numerous risks and challenges, China adhered to the general keynote of seeking progress in a stable manner, coordinating prevention and control of the Covid-19 pandemic and the development of economy and society, continuing the national economic recovery, taking a new step in building a new development pattern and achieving a good start of the 14th Five-Year Plan.”

Italy: Buzzi Unicem’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 1.8% year-on-year in 2021 to Euro795m. Despite this, its net profit for the year declined by 3.2% year-on-year to Euro542m.

In 2022, Buzzi Unicem forecasts a 10% full-year EBITDA decline due to the impacts of the Russian invasion of Ukraine.

China: Anhui Conch recorded a 4.7% year-on-year decline in its consolidated sales to US$26.4bn in 2021 from US$27.7bn in 2020. Its net profit was US$5.23bn, down by 5.3% from US$5.52bn. Anhui Conch attributed the decline to decreased cement demand. Its fuel and power costs increased by 30% in 2021. The producer forecast continued low market demand and high raw material and energy costs for the duration of 2022.

During the reporting period the group’s cement sales volumes fell by 9.8% to 409Mt. It increased its clinker, cement and concrete production capacities by 7.2Mt to 269Mt/yr, by 14.3Mt to 384Mt/yr and 10.5Mm³ to 14.7Mm³. It also installed photovoltaic power plants with a capacity of 200MW. By region, it said that market demand remained stable in East, Central and South China, although sales volumes declined slightly. However, it noted insufficient market demand in West China. The group’s export sales volumes fell by 43% but volumes and sales by its international subsidiaries grew by 7.5% and 5.3% respectively.

China: Jiangxi Wannianqing Cement’s consolidated net profit was US$251m in 2021. The figure represents a year-on-year increase of 7.6% from US$232m in 2020.

France: Hoffmann Green Cement Technologies recorded sales of Euro2.38m in 2021, more than four times its 2020 figure of Euro504m. The company’s losses before interest, taxation, depreciation and amortisation (LBITDA) declined by 27% to Euro5.23m from Euro4.13m, while its net loss fell by 9.1% to Euro5.56m from Euro6.12m.

The producer confirmed its global sales target of Euro130m and EBITDA margin target of 40% by 2026, by which time it expects to have achieved sales of 550,000t/yr of its clinker-free cement in France. This would correspond to 3% of the domestic cement market. By 2026, it aims to operate four plants abroad.

Pakistan: DG Khan recorded sales of US$151m in the first half of its 2022 financial year, up by 25% year-on-year from US$120m in the first half of the 2021 financial year. Its profit for the period more than doubled to US$12m from US$4.41m. Its cement exports were valued at US$968,000, more than triple its US$230,000-worth of exports recorded in the first half of the 2021 financial year.

Brazil: InterCement’s sales revenue grew by 33% year-on-year to US$1.69bn in 2021 from US$1.28bn in 2020. Its cement and clinker sales volumes rose by 6.2% to 20.1Mt from 18.9Mt. All operating regions were reported to have growing volumes. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 37% to US$470m from US$343m. The group said that, although input costs kept rising in 2021, it offset this with price increases.

South Africa: PPC expects its group cement sales volumes to increase by 4 - 8% year-on-year for the financial year to 31 March 2022 due to strong performance in Zimbabwe and Rwanda. In an operational update it said that sales revenue is also expected to rise by 11 – 15%. However, sales volumes and sales revenue growth was reported as slower in South Africa and Botswana due to strong demand due to home improvement projects during the previous period.

The cement producer noted that it had yet to experience any ‘meaningful uplift’ in cement sales following the government’s decision to only use locally produced on infrastructure projects. It said that cement sales in coastal regions of South Africa were behind those in the previous reporting year. It said that cement imports, mainly from Vietnam, increased by 11% and accounted for approximately 10% of the local market.