Displaying items by tag: Results

Pakistan: Lucky Cement has recorded nine-month sales of US$1.17bn in its 2022 financial year, up by 38% year-on-year from US$846m in the corresponding period of 2021. The company’s consolidated cement volumes fell by 7.1% to 7.07Mt, while its unconsolidated cement volumes fell by 3.4% to 5.51Mt. Unconsolidated costs per tonne of cement rose by 49%. Explaining its net sales growth, the company noted the ‘impressive’ performance of its overseas cement business, which includes a stake in Democratic Republic of Congo-based Nyumba Ya Akiba Cement. Lucky Cement’s profit after tax for the period was US$143m, up by 20% from US$119m.

Lucky Cement says that a cement plant expansion in Khyber Pakhtunkhwa is progressing and on-schedule for completion in 2022.

Mexico: Cemex recorded consolidated sales of US$3.77bn in 2022, up by 13% year-on-year from first-quarter 2021 levels. The group recorded operating earnings before interest, taxation, depreciation and amortisation (EBITDA) growth of 3% year-on-year, to US$691m. Cemex said that sales growth in its Europe, Middle East and Africa region led the earnings increase, supported by strong underlying demand conditions with robust volume growth in Europe and the US. It recorded double-digit like-for-like price rises across its global operations. During the quarter, group CO₂ emissions fell by 4% year-on-year.

Chief executive officer CEO Fernando González said “We are quite pleased with our first quarter performance despite the unprecedented global macro challenges. Against the backdrop of the worst inflation headwinds in more than 40 years, we achieved strong pricing traction across our products. Given the tight supply and demand dynamics in most of our markets, we are optimistic that we can recover input cost inflation. In addition, our diversified energy, supply chain and Climate Action strategies are paying off and helping us respond to energy cost pressures.”

Regarding the quarter’s sustainability achievements, González said “Our performance gives me great confidence that we can reach not only our 2030 climate goal but also our Net Zero ambition.”

Thailand: Siam Cement Group (SCG) recorded first-quarter sales of US$4.43bn in 2022, up by 25% year-on-year from first-quarter 2021 levels. The company’s net profit was US$257m, down by 40%.

Mexico: GCC recorded consolidated sales of US$207m in the first quarter of 2022, up by 16% year-on-year from first-quarter 2021 levels. US sales growth of 21% contributed to the increase, driven by regional cement volumes growth of 10%. The group's cement volumes in its native Mexico rose by 12%. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) in the quarter reached US$54.5m, up by 10% year-on-year. Following the results, the company plans to reactivate its on-going share buyback programme.

Chief executive officer (CEO) Enrique Escalante said "GCC is off to an excellent start this year. We are pleased with the results delivered during this quarter and of the way we are overcoming a high inflation environment amid global challenges. One of our top priorities is being extremely vigilant in offsetting cost pressures as we capitalise on market opportunities and focus our efforts in maximising production and terminal outputs. Market trends and full-year backlogs are encouraging for 2022; therefore, we expect to end the year in line with our high-single to double-digit EBITDA growth guidance."

Spain: Cementos Molins recorded first-quarter consolidated sales of Euro274m in 2022, up by 23% year-on-year from first-quarter 2021 levels. The group's net profit for the period fell by 34% year-on-year to Euro22m. It attributed this to material, power and transport costs inflation. During the quarter, Cementos Molins acquired Hanson Hispania's Catalonian ready-mix concrete and aggregates operations. It says that its 0.8x debt-to-earnings before interest, taxation, depreciation and amortisation (EBITDA) ratio positions it well to continue with the execution of its Strategic Plan 2020-2023.

Chief executive officer (CEO) Julio Rodríguez said “The year 2022 has an uncertain and highly complex global environment, in which the war in Ukraine and its global effects are added to the previously existing problems of costs inflation and supply chain disruptions. Despite this complex environment, we expect to continue in 2022 the path of solid results achieved in previous years."

Czech Republic: Cement Hranice’s sales rose by 13% year-on-year to US$89m in 2021. Its cement sales rose most sharply in its domestic Czech market, especially in the second half of 2021. As a result, the company increased its net profit for the year by 4% year-on-year to US$25.6m.

Czech News Agency Business News has reported that the company said "The past year was marked by increased demand for cement. Especially at the end of the year, we were forced to reduce our clinker and cement stocks to the lowest possible level, but we still had to slightly reduce deliveries to our customers."

Switzerland: Holcim recorded net sales of US$6.75bn in the first quarter of 2022, up by 20% year-on-year from US$5.62bn in the first quarter of 2021. The group’s recurring earnings before interest, taxation, depreciation and amortisation (EBIT) rose by 16% to US$643m from US$553m. The company has upgraded its outlook 2022 to a forecast of full-year net sales growth of at least 10%.

CEO Jan Jenisch said “I am very encouraged by the record start of the year, setting a solid foundation to our Strategy 2025 – Accelerating Green Growth.”

The first quarter of 2022 brought four new bolt-on acquisitions in addition to the group’s conclusion of its US$1.35bn Malarkey Roofing Products acquisition. The company says that it remains actively engaged in supporting humanitarian efforts in Ukraine.

Holcim has also published its industry-first Climate Report 2022. The report details the company’s progress towards achieving its sustainability targets under the four pillars of its Strategy 2025 – Accelerating Green Growth. Under the Accelerating Growth pillar, Holcim reached a total of 15 markets with its ECOPlanet reduced-CO₂ cement range. Under Expanding Solutions & Products, it reduced the proportion of cement sales in its consolidated sales to 57% in 2021 from 60% in 2020. Its other pillars are Leading in Innovation and Sustainability and Delivering Superior Performance. In 2021, the company used 6.6Mt of recycled construction and demolition waste in its products, against a 2050 target of 10Mt.

Chief sustainability and innovation officer Magali Anderson said “On our net-zero journey, we are walking the talk at Holcim, taking clear science-driven action to win the race for climate.”

Ireland: CRH’s first-quarter consolidated sales rose by 15% year-on-year in 2022. Its Americas Materials business’ sales rose by 13%, while its Europe Materials business sales rose by 11%. Cement volumes in the Americas region remained in line with 2021 levels as strong Central and Southern regional demand offset weather-impacted performances in Canada and some Western regions, and the company noted ‘good’ price momentum in Canada and the US. The company’s Europe Materials business recorded some volume increases, partly due to favourable weather conditions.

During the quarter, CRH made US$600m-worth of new acquisitions, and retains a ‘strong’ opportunities pipeline. The group says that its integrated solutions strategy continues to deliver across all divisions.

Chief executive officer Albert Manifold said “Although a number of challenges and uncertainties continue, our demand backdrop remains favourable and, absent any major dislocations in the macroeconomic environment, we expect first-half sales, earnings before interest, taxation, depreciation and amortisation (EBITDA) and margin to be ahead of the prior year period.” During the first half of 2022, the company also expects to complete US$600m-worth of its on-going share buyback programme.

India: ACC’s earnings before taxation, interest, depreciation and amortisation (EBTIDA) fell by 26% year-on-year to US$83.1m in the first quarter of 2022 from US$113m in the same period in 2021. Net sales rose by 3% to US$566m from US$552m. Sales volumes of cement dropped by 3% to 7.71Mt but volumes of ready-mixed concrete grew by 5% to 0.87Mm³. The subsidiary of Ambuja Cement and Holcim said that its costs had been negatively affected by a global rise in fuel costs caused by ‘geopolitical events.’

The cement producer said that its new integrated plant at Ametha in Madhya Pradesh is scheduled to be commissioned in the fourth quarter of 2022. It commissioned an upgrade to its Tikaria grinding plant in Uttar Pradesh in February 2022. Waste heat recovery unit projects at its Jamul and Kymore plants are ‘on track’ and the board of ACC has approved the next phase of similar projects at its Chanda and Wadi plants.

Tanzania: Twiga Cement’s sales were US$194m in 2021, up by 14% year-on-year from US$170m in 2020. The subsidiary of HeidelbergCement recorded a profit for the year of US$38.1m, up by 18% from US$32.2m. During the year, the company recorded its highest ever cement and clinker production and sales volumes.