Displaying items by tag: Results
Switzerland: LafargeHolcim’s net sales grew by 2.2% year-on-year to Euro5.28bn in the first quarter of 2019 from Euro5.17bn in the same period in 2018. Its recurring earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 15.55 to Euro717m from Euro620m. Its cement sales volumes remained stable at 50Mt and sales volumes of ready-mix concrete increased by 2.1% to 11.1Mm3.
“We had a very strong start of the year and I am especially pleased to see our strong sales growth and an over-proportional increase in profitability. Our momentum is very positive and the Q1 2019 is the third consecutive quarter with recurring EBITDA growing faster than net sales,” said chief executive officer (CEO) Jan Jenisch. He added that the group’s decision to sell its Southeast Asian operations was, “executed with very attractive valuations, allowing us to achieve a new level of financial strength.”
By region the group performed poorly in Asia Pacific, Middle East Africa and Latin America, with falling net sales. Earnings also fell in Middle East Africa. However, significant sales increases in Europe and North America more than compensated for this.
Colombia: Cementos Argos’ revenue grew by 14% year-on-year to US$657m in the first quarter of 2019 from US$576m in the same period in 2018. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 3.7% to US$94m from US$90.7m. Its cement sales volumes increased by 4.7% to 3.86Mt from 3.69Mt. Ready-mixed concrete sales volumes increased by 2.3% to 2.5Mm3. Revenue grew fastest in the US followed by Colombia but it decreased in the Caribbean and Central America.
Sumitomo Osaka’s results blighted by coal price
15 May 2019Japan: Sumitomo Osaka has blamed falling income from its cement business on rising coal prices. Its overall net sales rose by 2.5% year-on-year US$2.92bn the year to 31 March 2019 from US$2.24bn in the same period in 2018. It net income nearly halved to US$71.2m from US$134m. Despite national exports falling in the cement sector the company said that it was focusing on an overseas cement strategy.
Japan: Taiheiyo Cement’s sales rose by 5% year-on-year to US$8.36bn in the year to 31 March 2019 from US$7.95bn in the same period in 2018. Its net income grew by 12.8% to US$397m from US$352m. The group’s cement sales volumes rose by 3.5% to 15.4Mt. However, its exports fell by 18% to 3.5Mt. It noted that infrastructure projects for high-speed railway and the Tokyo Olympics had driven local demand for cement.
Bangladesh: Premier Cement’s profits in 2018 have been reduced due to rising raw material costs. Its net profit fell by 21% year-on-year to US$5.24m in 2018 from US$6.37m in 2017. Its revenue rose by 8% to US$119m from US$110m. Kazi Md. Shafiqur Rahman, the company secretary of Premier Cement Mills, also blamed market competition for the fall in profit.
India: Mangalam Cement’s sales revenue rose by 7% year-on-year to US$170m in the year to 31 March 2019 from US$159m in the same period in 2018. It made a loss of US$1.38m compared to a profit of US$1.62m in 2018. Its power and fuel costs grew by 28% to US$54.3m.
Dalmia Bharat sales and costs up
10 May 2019India: Dalmia Bharat’s income rose by 7% year-on-year to US$1.36bn in the year to 31 March 2019 from US$1.26bn in the same period in 2018. Its cement sales volumes grew by 10% to 18.7Mt from 17Mt. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 5% to US$278m from US$292m. The cement producer blamed mounting slag and petcoke costs for the growing production costs although it noted that the prices had started to ‘soften’ in the most recent quarter.
Germany: Better weather in Europe and North America has benefitted HeidelbergCement’s first quarter results. Its sales revenue rose by 16.9% year-on-year to Euro4.24bn in the first quarter of 2019 from Euro3.63bn in the same period in 2018. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 58.6% to Euro396m from Euro250m. Cement sales volumes increased by 1.6% to 28.6Mt from 28.1Mt. Ready-mixed concrete sales volumes increased by 10.8% to 11.3Mm3 from 10.2Mm3.
“We have achieved a considerable increase in revenue and result from current operations in comparison with the same quarter of the previous year. In addition to improved weather conditions, sustained strong demand and successful price increases contributed towards this positive development,” said Bernd Scheifele, chairman of the managing board of HeidelbergCement.
The group’s Asia-Pacific region reported ‘sluggish’ sales in India and Thailand. Its cement and clinker sales fell by 1.7% to 9Mt although it managed to increase its revenue through price rises. Cement and clinker sales volumes also fell in its Africa-Eastern Mediterranean Basin region due to increased competition in Egypt.
Italy: Buzzi Unicem’s sales rose by 21.7% year-on-year to Euro656m in the first quarter of 2019 from Euro539m in the same period in 2018. Its cement sales volumes grew by 16.9% to 6Mt and its ready-mixed concrete sales rose by 7.3% to 2.6Mm3. It attributed the gain in sales to improved weather in the reporting period. The group reported particular sales growth in Italy, the US and Germany.
Adelaide Brighton issues profit warning for 2019
09 May 2019Australia: Adelaide Brighton expects that its net profit in 2019 will fall by up to 15% year-on-year from the US$133m it reported in 2018. It forecasts that the decline will be driven by weakening demand from the residential market, increased competition from cement imports, higher competition in Queensland and rising raw material costs.