Displaying items by tag: Results

France: Vicat’s sales have risen due to its acquisition of Ciplan in Brazil. Its sales rose by 4.7% year-on-year to Euro600m in the first quarter of 2019 from Euro573m in the same period in 2018. However, adjusted for the acquisition, its sales remain stable. The group’s cement sales revenue fell by 1.4% to Euro302m when similarly adjusted. Its concrete and aggregate sales rose by 6.6% to Euro225m.

“The rise in prices across all zones has resulted in stable consolidated sales at constant scope and perimeter, despite strong volume erosions in Turkey as a result of the 2018 lira devaluation and of the consequences of highly adverse weather conditions in California. The integration of Ciplan in Brazil is on track amid conditions that are stabilising after several years of major consumption falls,” said chairman and chief executive officer (CEO) Guy Sidos.

By region sales were strong in France, stable in the rest of Europe and Africa and poor in the Americas, Asia and Turkey. Poor weather in California dragged down sales in the US, competition was reported in India and an economic slowdown was reported in Turkey.

India: Birla Corporation’s revenue rose by 10% year-on-year to US$944m in the financial year to 31 March 2019 from US$856m in the same period in 2018. Its profit for the period rose by 66% to US$36.9m from US$22.2m. Notably, its power and fuel costs increased by 14% to US$214m from US$188m.

Zimbabwe: Switzerland’s LafargeHolcim has lent US$30m in the form of a long-term loan to Lafarge Zimbabwe. The company has taken out a short-term loan of US$4.4m from a local bank, according to the Zimbabwe Independent newspaper. In its financial results for the 2018 the cement producer reported that its revenue grew by 24% year-on-year to US$72m in 2018 and that its profit before tax grew strongly to US$4.4m.

India: Shree Digvijay Cement’s income rose by 2.5% year-on-year to US$63.6m in the year to 31 March 2019 from US$62.1m in the same period in 2018. Its profit fell to US$0.3m from US$1.93m. Notably, its power and fuel costs grew by 29% to US$22.3m during the year. For the last quarter of the reporting year its income fell by 11%. Private equity company True North purchased a majority stake in the cement producer from Brazil’s Votorantim Cimentos in April 2019.

India: Ambuja Cement’s net sales grew by 3% year-on-year to US$410m in the first three months of 2019 from US$398m in the same period in 2018. Its cement sales volumes rose by 2% to 6.37Mt from 6.22Mt. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 9% to US$66.7m from its net profit after tax increased by 57% to US$61.4m. The cement producer said that its focus on alternative fuels had partly mitigated a ‘significant’ rise in power and fuels costs.

Indonesia: Indocement’s revenue grew by 8.5% year-on-year to US$262m in the first three months of 2019 from US$242m in the same period in 2018. Its net income rose by 50% to US$27.9m from US$18.6m.

Peru: Cementos Pacasmayo’s sales revenue dropped slightly to US$94.6m in the first three months of 2019. Its consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) also fell a little to US$28.3m. However, its sales volumes of cement, concrete and precast rose by 5.4% to 593Mt from 563Mt. It blamed the declines in revenue and earnings on a slow down in public investment connected to a change in regional governments.

The cement producer also said that it has started selling cement in Iquitos. The capital of the country’s Amazonian Loreto region has been hard to reach due to its lack of road links. Cementos Pacasmayo said that it has been ‘aggressively’ taking advantage of a new tax law that supports its Rioja plant giving it a competitive advantage.

UK/Ireland: Breedon Group says that it has made ‘good progress’ across the business in the first quarter of 2019. Its revenue grew by 10% year-on-year to around Euro276m on a like-for-like basis. It attributed this to milder weather than in the same period in 2018. It said that it expects construction output in the UK to rise by 3% and at a higher rate in the Republic of Ireland.

US: Martin Marietta has benefited from aggregate sales volume growth in the first quarter of 2019. Its revenue grew by 17% year-on-year to US$939m from US$802m. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 28% to US$159m from US$124m. However, the gross profit on its cement business was down and both sales and profit was down for ready-mixed concrete (RMX). Despite this the company said that its cement shipments and pricing increased 7.3% due to demand in Texas, a new Houston-area sales yard and an enhanced product line.

Thailand: Siam Cement Group’s (SCG) cement division’s sales grew by 4% year-on-year to US$1.51bn in the first quarter of 2019. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 10% to US$222m. It attributed the growth in earnings on increased cement prices and cost savings. Overall, the group’s sales and earnings fell due to poor performance from its chemicals division.