Displaying items by tag: Results

Finland: Wärtsilä’s sales fell by 6% year-on-year to Euro3.18bn in the first nine months of 2021 from Euro3.39bn in the corresponding period of 2020. It increased its order intake by 11% to Euro3.58bn from Euro3.24bn. The company’s cash flow from operating activities fell by 12% to Euro360m from Euro407m. It expects that demand for its offering will increase ‘considerably’ year-on-year in the fourth quarter of 2021.

The supplier announced that it will aim to achieve carbon neutral operations and to provide a product portfolio which will be ready for zero carbon fuels by 2030. It published a report entitled Front Loading Net Zero on how production economies can make savings while managing the renewable energy transition. The report concludes that full decarbonisation before 2050 will be financially viable if properly supported by governments and energy companies.

President and CEO Håkan Agnevall said “These new targets demonstrate our commitment to a sustainable future. Our aim is to support our customers on their decarbonisation. Our products, solutions, and services will meet the stringent environmental requirements, and the fuel flexibility and fuel efficiency of the engines powering these sectors are key to enabling the transformation.” Agnevall added “Naturally, we also need to do our part as an organisation and minimise our own environmental footprint.”

China: China Resources Cement’s consolidated turnover was US$3.96bn in the first nine months of 2021, up by 13% year-on-year. ET Net News has reported that the company saw its net profit fall by 28% to US$683m.

Uzbekistan: Qizilqum Cement’s nine-month sales fell by 11% year-on-year in 2021. A 4.4% decline in cost of goods sold failed to create earnings before interest (EBIT) growth during the period. The company recorded a 36% fall in EBIT.

Bluestone Investment Bank recorded 4.5% year-on-year growth in Uzbekistan’s volume of construction during the first nine months of 2021. In the first eight months of the year, its cement companies produced 8Mt of cement, up by 18% year-on-year. Cement imports rose slightly to 0.56Mt.

Japan: Ube Industries has revised its profit forecast downwards for the 2022 financial year. It now expects a net profit of US$171m in the year to March 2022, a 15% fall year-on-year, compared to its previous forecast of US$184m. It has also forecast full-year consolidated sales of US$5.57bn, a rise of 3.4% year-on-year. The Nikkei newspaper has reported that the group attributed the lower figure for profit to increased costs of cement production, transport and its on-going integration of its cement businesses.

India: HeidelbergCement India’s results in the second quarter of the 2022 financial year showed an 11% year-on-year rise in sales to US$76.1m from US$68.5m in the corresponding quarter of the 2021 financial year. Dion News Service has reported that the company’s net profit for the quarter was US$7.96m, down by 4.6% from US$8.34m. Its operating costs were US$61.5m, up by 19% from US$51.8m.

India: ACC's third-quarter sales in the 2022 financial year were US$501m, up by 6% year-on-year from US$472m in the third quarter of the 2021 financial year.Its cement sales were 6.57Mt, up by 1.2% from 6.49Mt, while its costs rose by 5.3% to US$428m from US$406m. Press Trust of India News has reported that the company's net profit in the quarter rose by 24% to US$60.1m. The company attributed its 'solid' quarterly performance to its focus on sustainability while meeting customers' needs.

Managing director and chief executive officer Sridhar Balakrishnan said "Despite a steep increase in fuel costs, our cost efficiency measures under Project Parvat have enabled us to maintain robust performance." Regarding the full-year outlook, he added "We are positive that the cement sector will benefit from increasing demand in various sectors such as housing, commercial and industrial construction."

India: Ratings agency Emkay Global has forecast an 11% year-on-year rise in UltraTech Cement’s second-quarter sales in the 2022 financial year to US$1.5bn from US$1.36bn. It expects the producer’s cement sales to rise by 6% in the period to 20.4Mt, and its net profit to grow by 6.4% to US$174m from US$163m.

The Economic Times newspaper has reported that Emkay Global predicted that UltraTech Cement’s costs will rise by 7% and that its earnings before interest, taxation, depreciation and amortisation per tonne of cement will fall by 5% year-on-year.

Kazakhstan: Steppe Cement's revenues in the nine-month period which ended on 30 September 2021 were US$67.6m, up by 8% year-on-year from US$62.6m in the corresponding period of 2020. Sales volumes rose by 4% to 1.38Mt from 1.33Mt.

Kazakhstan Newsline has reported that projected full-year Kazakh cement demand rose by 24% in the period to 11.3Mt, of which Steppe Cement controls a 14% share. The share of imports remained level at 7%. Nine-month cement exports were 1.4Mt nationally.

Azerbaijan: Holcim Azerbaijan recorded sales of US$59.2m in 2020, down by 16% year-on-year. Turan Information Agency News has reported that the producer’s net profit was US$24.5m, down by 23%. During the year, the company reduced its debt by 14% to US$67m from US$78m.

Pakistan: DG Khan’s full-year profit after tax was US$22.1m in the 2021 financial year, which ended on 30 June 2021. The Dawn newspaper has reported that the company recorded a loss of US$29.2m in the 2020 financial year.