15 May 2017
Colombia: Cementos Argos reported net losses of US$15.6m in the first quarter of 2017, in contrast with a US$340m profit in the first quarter of 2016. The losses were influenced by the company's operations in Colombia, currency exchange losses and non-recurring expenses associated with implementing an efficiency plan, along with a depreciation of its assets in the United States.
The company's operating revenues also fell by 6% year-on-year to US$719m by the end of March 2017, while its earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 35% to US$93.8m.
Vietnam: Vietnam exported 6.72Mt of cement and clinker worth US$235m in the first four months of 2017. This represents a 12.8% increase in volume terms compared to the first four months of 2016, but only a 7.9% in value terms.
In April 2017 the country’s clinker and cement exports rose by 6.7% month-on-month in volume terms and by 7.6% in value to 1.92Mt at a value of US$67.4m, according to the latest data from the General Department of Vietnam Customs.
Bangladesh, the Philippines, Peru, Mozambique, Malaysia and Taiwan remained the biggest importers of Vietnamese cement and clinker in the four-month period.
At present, Vietnam has become the fifth biggest cement producer and consumer in the world after China, India, Iran and the United States. The country now has 76 cement production lines with a combined output of 82Mt/yr. It is predicted to face a glut of between 25-35Mt/yr of cement by 2020 as domestic production has outstripped the real demand and local firms have failed to compete with other exporters in the region.
Rising sales for Buzzi Unicem 15 May 2017
Italy: Buzzi Unicem’s first quarter sales rose by 8.9% year-on-year during the first quarter of 2017 to Euro588.5m. Cement sales volumes rose by 4.5%. Favourable currency impacts lifted Buzzi Unicem's top line by Euro16.8m, while like-for-like sales were up by 5.8%.
Sales were up in all geographical areas the group is present in, with the exception of Russia, in which sales were down by 1.3% in local currency terms. Buzzi Unicem said that its net debt rose to Euro979.9m at the end of the first quarter from Euro941.6m at the end of 2016.