Displaying items by tag: Results
Saudi Arabia: Southern Province Cement’s sales revenue rose by 37% year-on-year to US$165m in the first half of 2019 from US$121m in the same period in 2018. Its net profit after Zakat and tax grew by 53% to US$56.3m from US$36.8m.
Saudi Arabia: Saudi Cement’s sales revenue rose by 26% year-on-year to US$194m in the first half of 2019 from US$154m in the same period in 2018. Its net profit after Zakat and tax grew by 12% to US$59.9m from US$53.4m.
Germany: HeidelbergCement’s profit fell in the first half of 2019 due to non-recurring effects related to the divestment of its assets in Ukraine. Its profit fell by 33% year-on-year to Euro291m in the first half of 2019 from Euro435m from in the same period in 2018. Its revenue rose by 9% to Euro9.21bn from Euro8.43bn. Its sales volumes of cement fell slightly to 61Mt and ready-mixed concrete sales volumes grew by 6% to 24.4Mm3. Its profit fell by 33% to Euro435m from Euro291m.
“In general, the market dynamics weakened slightly in the second quarter in comparison with the first quarter. Nevertheless, we were able to improve our result in the second quarter because of our strong global positioning. Good margins in Asia, as well as Western and Southern Europe, more than compensated for the weaker business due to adverse weather conditions in North America and the Africa-Eastern Mediterranean Basin Group area,” said Bernd Scheifele, the chairman of the managing board of HeidelbergCement.
Lucky Cement fights growing costs with export sales
30 July 2019Pakistan: Lucky Cement has counteracted mounting costs with increased export sales. Its gross sales rose slightly to US$420m in its financial year to 30 June 2019. Its profit after tax fell by 14% year-on-year to US$65.2m from US$75.8m from the same period in 2018. Its cost of sales grew by 11% to US$190m from US$211m. Its cement sales volumes fell by 1.8% to 7.67Mt. However, its export sales increased by 60.9% to 1.82Mt.
The cement producer said that the first shipment of machinery from China’s Sinoma to its new 1.2Mt/yr integrated plant project at Samawah in Iraq. A power plant has also been ordered from Finland’s Wärtsilä. Commercial production at the site is planned for mid-2020.
Turkey drags on Cementir’s half-year results
29 July 2019Italy: Cementir Holding has blamed poor performance in Turkey for falling cement sales volumes. Although it said that positive trends in Scandinavia, the Baltics and Belgium had party compensated for this. Its sales volumes of grey and white cement fell by 12.2% year-on-year to 4.32Mt in the first half of 2019 from 4.92Mt in the same period in 2018. Ready-mixed concrete sales dropped by 21.3% to 2Mm3 from 2.54Mm3. Its revenue rose slightly by 0.6% to Euro592m from Euro589m. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 14.7% to Euro110m from Euro96m.
CCNN’s sales rise to US$89.1m in first half of 2019
29 July 2019Nigeria: Cement Company of Northern Nigeria’s (CCNN) sales revenue more than doubled to US$89.1m in the first half of 2019 from US$33.6m in the same period in 2018. Its profit after tax nearly tripled to US$20.3m from US$7.22m, according to the Business Day newspaper.
Saudi Arabia: Najran Cement’s sales rose by 20% year-on-year to US$48.7m in the first half of 2019 from US$40.6m in the same period of 2018. Its net profit after Zakat and tax was US$0.92m, after a loss previously. It attributed its increased sales and profit to higher sales volumes, better pricing and reduced production costs.
Peru: UNACEM’s sales rose by 1.5% year-on-year to US$296m in the first half of 2019 from US$292m in the same period in 2018. Its profit grew by 20.5% to US$74.3m from US$61.7m. Cement production increased by 8.5% to 2.62Mt from 2.42Mt. The cement producer also said that clinker exports from its Conchán pier fell by 22% to 0.45Mt from 0.58Mt.
Mexico: Cemex’s sales have fallen in all regions except for Europe. Its net sales fell by 4% year-on-year to US$6.72bn in the first half of 2019 from US$7bn in the same period in 2018. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 11% to US$1.21bn from US$1.36bn. Cement sales volumes decreased by 9% to 31.3Mt and ready-mixed concrete volumes by 3% to 24.9Mm3.
“The second quarter was impacted by the challenging global economic environment. Weaker-than-expected industrial activity and continued trade conflicts have resulted in lower investment in several of our markets. Mexico in particular has been affected by these factors, which led to lower-than-expected volumes. Adverse weather in the US also translated into muted activity during the quarter. In contrast, we are very pleased with the favourable performance of our Europe region,” said chief executive officer (CEO) Fernando A Gonzalez. He added that earnings were expected to pick up in the second half of the year due to improved government spending in Mexico, higher prices and sales volumes of cement in the US and Europe, stabilising energy prices and the group’s ‘Stronger Cemex plan’.
Thailand: SCG’s sales from its cement business rose by 3% year-on-year to US$3.04bn in the first half of 2019 from US$2.94bn in the same period in 2018. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 7% to US$410m from US$382m. Cement sales in the second quarter of 2019 were driven by the non-government sector. Overall the group’s sales and earnings fell due to poor performance from its chemicals division, which it blamed on the on-going US-China trade war.