Displaying items by tag: Sales

China: Jiangxi Wannianqing Cement recorded a profit of US$36.6m during the first half of 2023, Reuters has reported. This corresponds to a year-on-year decline of 46%.

US: Monarch Cement’s consolidated sales were US$122m in the first half of 2023, up by 27% year-on-year from US$95.8m during the first half of 2022. The producer’s retained earnings rose by 15% to US$311m from US$271m.

Throughout the first half of 2023, Monarch Cement recorded cement sales of US$71.7m (23% of total sales), up by 29% from US$55.4m (20% of total sales) in the first half of 2022.

India: Grasim Industries raised its sales during the first quarter of the 2024 financial year by 11% year-on-year, to US$3.57bn from US$3.39bn. Its net profit was US$311m, down by 7% from US$333m. During the quarter, Grasim Industries launched its Birla Pivot building materials e-commerce platform in Maharashtra, Madhya Pradesh and the National Capital Territory. The Hindu BusinessLine newspaper has reported that the company has a capital expenditure (CAPEX) budget of US$699m for the 2024 financial year.

Argentina: Loma Negra’s sales dropped by 2.1% year-on-year to US$353m in the first half of 2023, from US$361m in the first half of 2022. The company’s cement and lime sales were 3.15Mt, in line with first-half 2022 volumes. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 23% to US$86.8m, while its net profit dropped by 32% to US$31.1m from US$45.9m.

Thailand: Siam Cement Group (SCG) recorded sales of US$7.22bn in the first half of 2023, down by 17% year-on-year from US$8.69bn. Cement and building materials accounted for US$2.6bn (36%) of sales, behind chemicals at US$2.74bn (38%). The company's earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 24% to US$915m from US$1.21bn. Meanwhile, its profit excluding extra items dropped by 49% to US$279m from US$543m. Cement and building materials contributed 78.5m (28%) of group profit, down by 38% from US$126m (23%).

During the first half of 2023, sales of alternative CEM-I and CEM-II cement rose above 50% of SCG's cement sales for the first time, compared to 41% throughout 2022. The group substituted 22% of all cement fuel with alternative fuel (AF) across its operations, and 22% of cement fuel in its Thai domestic business. SCG invested US$91.5m in capital expenditure in its cement and building materials business throughout the first half of 2023.

Japan: Taiheiyo Cement's sales were US$1.35bn in the first quarter of the 2024 financial year, up by 9.6% year-on-year. Meanwhile, its profit before tax rose by 36% to US$20.8m.

Nikkei Financial Summary News has reported that Taiheiyo Cement has maintained its forecast of sales of US$6.43bn and profit before tax of US$392m for the full 2024 financial year, which ends on 31 March 2024.

Japan: Sumitomo Osaka Cement says that it expects sales to rise by 14% year-on-year to US$761m during the first half of the 2024 financial year. Nikkei Financial Summary News has reported that the producer expects a drop in its cement volumes, offset by price hikes. Currency effects will also impact its result. Meanwhile, coal prices remained lower than expected. The company expects to record a net profit of US$26.6m, compared to a loss of US$20.4m in the first half of the 2023 financial year. It previously forecast a US$13.3m loss.

Sumitomo Osaka Cement recorded US$52.8m in sales in the first quarter of the 2024 financial year (1 April - 30 June 2023). This corresponds to year-on-year growth of 16%. Nonetheless, it made a net loss of US$7.6m.

Throughout the first quarter of the 2024 financial year, Japanese cement despatches fell by 15% to 10.1Mt. Exports declined most sharply, by 43%, to 1.51Mt.

India: Aditya Birla subsidiary UltraTech Cement recorded cement sales volumes of 30Mt during the first quarter of the 2024 financial year, which began on 1 April 2023. This corresponds to growth of 20% year-on-year from first-quarter levels in the previous financial year. The Economic Times newspaper has reported that ICICI Securities expects UltraTech Cement's earnings before interest, taxation, depreciation and amortisation (EBITDA) to fall by 3% year-on-year. Declining fuel prices are expected to have contributed to a drop in the producer's costs. Throughout the quarter, its capacity utilisation rate was 90%.

India: NCL Industries produced 751,000t of cement during the first quarter of the 2024 financial year, up by 23% year-on-year from 610,000t in the first quarter of the previous financial year. Hindu BusinessLine News has reported that the company’s sales volumes also rose by 23% during the quarter, to 742,000t from 603,000t.

Pakistan: Cement producers despatched 44.6Mt of cement during the 2023 financial year, down by 16% year-on-year from 52.9Mt in the previous financial year. Exports dropped by 13% to 4.57Mt from 5.26Mt. The Dawn newspaper has reported that cement plants in Northern Pakistan accounted for 33.9Mt (76%) of despatches, while those in Southern Pakistan accounted for 10.7Mt (24%).

The All Pakistan Cement Manufacturers Association urged the government to support export-orientated industries. It said “Boosting exports will play a pivotal role in the revival of our economy. Signing of standby agreement with IMF is only an interim solution and we must use our own resources in order to build a stronger Pakistan.”