Displaying items by tag: Sales
China: Hebei province-based Tangshan Jidong Cement’s net 2019 profit was US$298m, up by 42% year-on-year from US$210m in 2018. Cement and clinker sales remained flat. Tangshan Jidong Cement attributed the growth to increased prices due to a 9.9% year-on-year increase in infrastructure spending to US$1.86tn. Throughout the year, the company said, it completed energy-saving optimisation and upgrades to improve efficiency, implemented strategic marketing and reduced the cost of material procurement.
LafargeHolcim Maroc shares 2019 results
17 March 2020Morocco: Switzerland-based LafargeHolcim subsidiary LafargeHolcim Maroc has recorded a profit of Euro161m in 2019, up by 7.5% year-on-year from Euro149m in 2018. Its sales held steady at Euro744m. The company says that it ‘does not anticipate any significant change in market conditions’ in 2020. Its new Agadir-Souss grinding plant is scheduled to come online in 2020.
Al Madina Cement Company increases profit by 61% in 2019
17 March 2020Oman: Al Madina Cement Company recorded a net profit of US$48.2m in 2019, up by 61% year-on-year from US$29.9m in 2018. Its sales rose by 54% to US$141m from US$91.9m in 2018.
China: The Ministry of Industry and Information Technology (MIIT) has reported net profit growth for the entire domestic cement sector of 20% year-on-year to US$26.6bn in 2019 from US$22.3bn in 2018. Total revenues reached US$144bn, representing an increase of 13% from US$128bn. Xinhua China Economic Information Service has reported that the MIIT attributed the profit growth to a reduction in overcapacity throughout the year due to supply-side structural reform.
Argentina: Loma Negra’s total comprehensive income in 2019 was US$61.8m, up by 3.7% year-on-year from US$59.6m in 2018. Its revenue fell by 15% to US$147m from US$173m in 2018. The company said that this was due to decreased demand in Argentina, where its cement, masonry and lime sales declined by 11% year-on-year to 1.28Mt of products from 1.44Mt in 2018, with bulk sales falling further than bagged. Profit growth was hampered by non-recurrent costs from cost-control and streamlining initiatives.
Loma Negra CEO Sergio Faifman said, “Argentina's business suffered more in 2019 than previously expected, however we were able to thrive and present results that we can feel proud of.” He lobbied the new government to adopt policies to ‘re-establish financial stability and economic growth.’
An expansion to Loma Negra’s 1.7Mt/yr integrated L’Amali plant is set to bring the plant’s capacity to 2.4Mt/yr when commissioned in mid-2020.
Coronavirus double whammy for Vietnam
11 March 2020Vietnam: Cement producers in Vietnam are reported to be facing a ‘double whammy’ due to falling domestic demand from a slowdown in the domestic property and infrastructure sectors, as well as a marked decline in exports due to the ongoing Novel Coronavirus (COVID-19) epidemic.
However, Nguyen Quang Cung, chairman of the Vietnam Cement Association (VNCA) said that demand is expected to remain high throughout 2020 as a whole. The Ministry of Construction (MoC) currently stands by its autumn 2019 forecast that Vietnam will produce 103Mt of cement during 2020. It expects domestic consumption to be around 70Mt, with exports of 33Mt.
To help firms overcome the current difficulties, Cung proposed that the government, the State Bank of Vietnam and other parties offer support to manufacturers in the form of tax cuts and lower interest rates.
Global Cement is sceptical that Vietnam’s cement producers will meet the MoC’s 2020 forecast. In January and February 2020 the country’s domestic sales were 40% lower year-on-year compared to 2019, while exports fell by 49% year-on-year.
Bangladesh: LafargeHolcim Bangladesh has posted a 56% year-on-year increase in profit to US$20.5m in 2019 from US$13.1m in 2018. Sales rose by 100% to US$210m from US$105m in 2018. New Nation Independent Daily News has reported that LafargeHolcim Bangladesh CEO Rajesh Surana said, "2019 was a challenging year for the cement industry. The impact of increased raw material costs and taxes was significant. Despite this, LafargeHolcim demonstrated a strong performance trend. Our focus on improving operational efficiencies, driving commercial innovation and cost optimisation continues to be effective. We are determined to build on this thrust and further increase value to our stakeholders."
Bosnia & Herzegovina: Germany-based HeidelbergCement subsidiary Tvornica Cementa Kakanj (TCK) recorded a profit of Euro7.35m in 2019, down by 15% year-on-year from Euro8.63m in 2018. Sales rose by 1.8% over the period, to Euro37.7m from Euro37.0m. The company explained the profit drop in terms of increased operating costs, which rose by 3.8% to Euro29.4m from Euro22.7m in 2018.
Norochcholai Coal Power Plant targets US$5.5m in fly ash sales to cement plants in 2020
10 March 2020Sri Lanka: Norochcholai Coal Power Plant (NCPP) is courting buyers for its fly ash, of which it says it produces US$5.5m-worth annually. In 2019 NCPP sold US$3.3m to Sri Lankan cement producers. Daily News Sri Lanka has reported that the company has undertaken measures to increase the value of the fly ash to cement producers, in order to obtain a higher price. NCPP manager Indrasiri Gallage said, "By selling fly ash to cement producers the plant has also helped to free the country from reliance on clinker imports."
An expansion, including the installation of a new 300MW coal-fired power plant, will eventually bring the NCPP’s capacity to 1200MW. The plant is currently working to increase the value of its bottom ash for paving block production.
Suez Cement records US$75.0m loss in 2019
09 March 2020Egypt: Germany-based HeidelbergCement subsidiary Suez Cement’s losses fell by 11% year-on-year to US$75.0m in 2019 from US$84.1m in 2018. Mubasher News has reported that sales also fell, by 13% to US$41m from US$0.47bn.
Suez Cement is seeking buyers for its 51% stake in Kuwait-based Hilal Cement.