Displaying items by tag: VICEM

Vietnam: Vicem recorded full-year sales of US$1.68bn during 2022, up by 17% year-on-year. The producer sold 27.5Mt of cement, down by 6.7% year-on-year. Export sales volumes declined more sharply than those on the domestic market. Vicem responded to the cost impacts of economic disruptions arising from the on-going Russian invasion of Ukraine by raising its cement prices. Nonetheless, its profit fell by 30% year-on-year to US$63.9m.

Vietnam News Summary has reported that Vicem is aiming to achieve sales growth of 4% year-on-year in 2023, to US$1.74bn. Export sales growth prospects are strong, since China resumed its import of foreign goods at the end of December 2022. China consumed 54% of all Vietnamese cement exports in 2021.

Philippines: Vietnam Cement Industry Corporation (Vicem) has awarded a three-year, 6Mt cement and clinker import contract to Fenix (CEZA) International and Gold Falcon Trading Corp. The agreement will have effect from 2023 until 2025. ‎Việt Nam News has reported that Vietnam's Minister of Construction, Nguyen Thanh Nghi, and National Assembly chair, Vuong Dinh Hue, attended the contract's signing in Manila.

Declining demand, primarily from China, has diminished Vietnam's cement exports over past months. Vietnam produced 130Mt of cement in 2021, but consumed just 65Mt.

Vietnam: The Ministry of Construction has appointed Bui Xuan Dung as the chair of the Vietnam Cement Corporation (VICEM).

Bui Xuan Dung trained as a civil engineer and holds a master’s degree in business administration. He worked for the Hanoi Construction Corporation from 1995 to 2021 becoming its General Director in 2015. Since 2021 he has held the post of Director of the Housing and Real Estate Market Management Department at the Ministry of Construction.

VICEM is a state-owned cement producer controlled by the Ministry of Construction. It operates 16 production lines at 10 plants and holds around 35% of the country’s market share in the cement sector.

Vietnam: Vietnam Cement Industry Corporation (Vicem) sold 18.5Mt of cement during the first nine months of 2022, up by 6.5% year-on-year from the same period in 2021. The producer's cement and clinker sales volumes totaled 20.9Mt during the period, 71% of its full-year 2022 target.

Vicem recorded a pretax profit of US$60.4m, up by 8.4%. Vicem aims to achieve a US$82.5m pretax profit and increase its revenues by 10% to US$1.49bn.

Vietnam: The State Audit Office of Vietnam (SAV) has uncovered limestone mining activity above licensed levels by multiple subsidiaries of the Vietnam Cement Industry Corporation (VICEM) between 2017 and 2022. In 2021, Vicem Bim Son’s Yen Duyen quarry yielded 499,000t of limestone, 14% above its licensed capacity. That same year, Vicem Hoang Mai extracted 154,000t of limestone from its Hoang Mai B quarry, 8.5% above capacity, while Vicem Tam Diep extracted 111,000t from its Hang Nuoc quarry, 6% above capacity.

The Viêt Nam News newspaper has reported that the SAV has asked Vicem to review the causes of the discrepancy between production and licences and clarify its responsibility.

Vietnam: Vicem Hoàng Mai Cement has announced a full-year sales target of US$79.2m for 2022, down by 1.5% year-on-year from 2021 levels. Its target net profit for the year is US$656,000, more than five times its 2020 figure. The company forecasts cement production of 1.73Mt, up by 11% from 1.56Mt, and clinker production of 1.4Mt, down by 4.1% from 1.46Mt, for the year. It plans to replace 30 – 40% of the natural gypsum currently used in cement production with synthetic gypsum. It will also increase the proportion of ash and slag in its raw materials mix.

The Chúng Khoán newspaper has reported that Vicem Hoàng Mai Cement said that it is experiencing increased costs due to high raw materials and fossil fuel prices. A coal shortage has also disrupted production.

Vietnam: Vicem sold 29.4Mt of cement and clinker in 2021, in line with its sales volumes in 2020. Viet Nam News has reported that the company produced 24.1Mt of cement during the year, down by 2.1% year-on-year. Its sales were US$1.46bn, in line with 2020 sales.

Vietnamese domestic cement consumption fell by 5.2% year-on-year to 59Mt in 2021.

Vietnam: Vicem Bút Son sold 3.2Mt of cement in 2021, 91% of the volume stipulated in its plan for the year. Its clinker sales were 2.8Mt, 96% of planned volumes. Viet Nam News has reported that the company is targeting a 14% increase in cement sales to 3.4Mt in 2022. Its clinker sales target is 600,000t.

Vietnam: Vietnam National Cement Association (VNCA) members sold 77.5Mt of cement in the first nine months of 2021, up by 3.5% year-on-year. Vietnamese cement exports rose by 19% over the same period, to 31.9Mt. This corresponds to 41% of total sales. State-owned Vietnam Cement Industry Corporation (VICEM) exported 14.5Mt of cement, 45% of national cement exports. Viet Nam News has reported that the country ended the nine-month period with 3.6Mt of cement and clinker in inventory.

Vietnam: State-owned Vicem’s cement and clinker sales grew by 8% year-on-year to 12.7Mt in the first half of 2021. The Viet Nam News newspaper has reported that the company recorded cement and clinker production volumes of 14.8Mt, up by 7%. Its 2021 full-year production targets are 30Mt of cement and clinker sales, up by 5%, and production of 26Mt of cement, up by 8%, and 22Mt of clinker, up by 1%. The producer recorded sales of US$709m in the first half of 2021, up by 5%. Its profit before tax rose by 23% to US$54.4m.