Displaying items by tag: Results
China: Anhui Conch’s revenue grew by 63% year-on-year to US$4.53bn in the first quarter of 2019 from US$2.79bn in the same period in 2018. Its net profit rose by 27% to US$903m from US$710m.
China: China Resources Cement’s turnover fell by 6.7% year-on-year to US$957m in the first quarter of 2019 from US$1.03bn in the same quarter of 2018. Its profit fell by 16% to US$189m from US$226m. Its cement sales volumes dropped by 7.7% to 15.2Mt from 16.5Mt, clinker sales fell by 2% to 1.16Mt from 1.18Mt and concrete volumes declined by 15% to 2.58Mm3 from 3.03Mm3. Sales volumes fell in the company’s main markets in Guangdong and Guangxi.
Lucky Cement income down on fuel costs
29 April 2019Pakistan: Lucky Cement’s revenue grew by 12% year-on-year to US$729m in the first nine months to 31 March 2019 from US$654m in the same period in 2018. Its local cement and clinker sales volumes dropped by 13% to 4.4Mt from 5.1Mt. Export sales more than doubled to 1.5Mt from 0.7Mt, Overall sales volumes rose to 6Mt. Its income fell by 18% to US$80m from US$97.3m. It said that its cost of sales rose by 14.1% due to rises in the cost of coal, packing material and other fuel prices.
The cement producer said that a 2.6Mt/yr expansion project in Khyber Pakhtunkhwa would be completed by the end of 2019. Contacting for a new 1.2Mt/yr plant in Samawah in Iraq has been finalised including a power plant from Finland’s Wärtsilä. Commercial production at the site is planned for mid-2020.
Mexico: Cemex’s cement sales volumes fell by 6% year-on-year to 14.9Mt in the first quarter of 2019 from 15.9Mt in the same period in 2018. It has blamed this on falling volumes in its key markets in Mexico and the US. Its net sales dropped by 3% to US$3.24bn from US$3.34bn. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 6% to US$562m from US$598m. Its concrete sales volumes fell slightly to 12.1Mm3 from 12.2Mm3.
“We are pleased with the 1% top-line growth we achieved during the first quarter, despite volume declines in our two most important markets: Mexico and the US. During the quarter, we enjoyed improved pricing performance in all our regions with favourable volume dynamics in Europe. In the US, ready-mix and aggregates volumes also grew despite adverse weather in part of our footprint,” said Fernando A Gonzalez, chief executive officer (CEO) of Cemex.
By region, the group also reported falling sales in its South, Central America and the Caribbean and Asia, Middle East and Africa regions. However, sales volumes of both cement and concrete increased by over 10% in Europe. Here, net sales rose by 3% to US$805m from US$781m. This was attributed to ‘strong’ domestic demand in most countries and a mild winter.
China: Huaxin Cement’s sales revenue rose by 33% year-on-year to US$887m in the first quarter of 2019 from US$669m in the same period in 2018. Its net profit nearly doubled to US$150m from US$78.7m.
Bestway Cement’s turnover stable
26 April 2019Pakistan: Bestway Cement’s turnover grew slightly to US$421m in the nine months to 31 March 2019 from US$414m in the same period in 2018. Its profit rose by 9.5% to US$67.4m from US$61.5m.
DG Khan’s profits down so far in 2019
26 April 2019Pakistan: DG Khan’s sales rose by 30% to US$215m in the nine months to 31 March 2019 from US$165m in the same period in 2018. However, its profit dropped by nearly half to US$18.5m from US$35.1m. Its cost of sales increased by 56% in the reporting period.
Maple Leaf Cement’s sales fall by 5% in nine months
26 April 2019Pakistan: Maple Leaf Cement’s net sales fell by 5% year-on-year to US$129m in the first quarter of 2019 from US$136m in the same period in 2018. Its profit after tax dropped to US$13.4m from US$23.8m.
Cherat Cement’s turnover grows slowly in nine months
26 April 2019Pakistan: Cherat Cement’s turnover grew slightly to US$78.8m in the nine months to 31 March 2019. Its net profit rose by 25% to US$15.9m from US$12.7m. Third quarter turnover and net profit grew faster in the third quarter.
UltraTech Cement holds profits as energy costs mount
25 April 2019India: UltraTech Cement’s net sales rose by 20% year-on-year to US$5.24bn in its 2019 financial year from US$4.35bn in the 2018 reporting period. Its profit after tax grew by 10% to US$347m from US$317m. Its power and fuel costs increased by 33% to US$1.20bn from US$903m.
The cement producer said that production stabilised at its integrated plant in Manavar, Madhya Pradesh, reaching a clinker production capacity utilisation rate of 100% in the quarter that ended on 31 March 2019. It worked on the plants of its UltraTech Nathdwara Cement subsidiary to reach a production utilisation rate of 72% in March 2019. Both plants were acquired from Binani Cement in late 2018.
The plants it acquired from Jaypee Associates in 2017 are running at a capacity utilisation rate of 82%. A planned shutdown was undertaken at its Bela plant in Madhya Pradesh plant for cost improvements. The company intends to install waste heat recovery (WHR) units at these plants. Work on the 4Mt/yr Bara grinding unit is on track and the first phase of the expansion is expected to be commissioned during the first quarter of its 2020 financial year.