Australia: James Hardie recorded sales of US$1bn in the first quarter of its 2023 financial year, up by 19% year-on-year from US$843m in the first quarter of its 2022 financial year. Its net profit was US$163m, up by 34% from US$121m. The group increased its North America fibre cement board sales by 28% to US$740m, its Asia Pacific fibre cement board sales by 9% to US$140m and its Europe building products sales by 7% to US$112. James Hardie launched its new European subsidiary James Hardie Fiber Cement Europe during the quarter.

James Hardie lowered its full-year adjusted net profit forecast to US$730 – 780m from US$740 – 820m. Interim chief executive officer Harold Wiens said "The current calendar year has seen the macro-economic environment change around us quite significantly, with unprecedented levels of inflation, global supply chain disruptions and a war in Europe. The current macro-economic environment is not only creating uncertainty for the housing markets in all three regions we do business in, but it is also putting pressure on our fiscal year 2023 financial results due to increased input and freight costs. That said, we are confident we will be able to deliver growth above market and strong returns in fiscal year 2023, and that is reflected in our updated guidance we provided today, which at its midpoint represents 22% growth in adjusted net income versus the prior year."

UK: HeidelbergCement subsidiary Hanson’s plan for the installation of a carbon capture system at its Padeswood cement plant has proceeded to the due diligence stage for funding from the UK government’s Department for Business, Energy and Industrial Strategy. The project is one of 20 from the East Coast Cluster and HyNet North West Consortium to make the shortlist for this phase of the approval process.

If successful, Hanson will be able to capture 800,000t/yr of CO₂ and produce carbon neutral cement at the Padeswood plant by 2027. It will create 54 new skilled full-time jobs.

Egypt: Arab Swiss Engineering Company (ASEC) has won a contract to manage operations and maintenance at Building Material Industries Company (BMIC)’s Asyut cement plant in Asyut Governorate. ASEC previously held responsibility for the plant’s technical management between 2011 and 2019.

The supplier says that both parties look forward to this new phase in their cooperation to maximise the success of the plant’s operations.

India: Indian cement producers imported four shipments with a total of 160,000t of petcoke from Venezuela during the first quarter of the 2023 financial year. Reuters News has reported that a fifth shipment of 50,000t of petcoke is due to arrive in Mangaluru, Karnataka, in mid-August. A further, 30,000t, delivery is also scheduled for shipment from Venezuela during the month. Shipping takes around 50 days.

Ramco Cements enjoyed a US$15 – 20/t discount on its two 50,000t shipments of Venezuelan petcoke in June and July 2022, for which it paid US$10.7m and US$11.1m respectively. Its chief financial officer Sivaraman Vaithiyanathan said
"The quality of petcoke is very good and it has very low sulphur."

India: The Competition Commission of India (CCI) has approved Adani Group’s US$10.5bn deal to acquire Holcim’s Indian business. Holcim holds a 63% stake in Ambuja Cements, which holds a 50% stake in ACC. Holcim also holds a direct 4.5% stake in ACC.

Adani Group launched a new company, Endeavour, to assume ownership of the new share capital from Holcim’s holding company Holderind Investments.

Egypt: Arabian Cement’s first-half sales were US$111m in 2022, up by 121% year-on-year from US$50.4m in the first half of 2021. The company recorded a profit of US$6.25m during the reporting period, compared to a loss of US$1.22m one year previously.

India: 30% of plants in India’s 78GW captive power plant network have temporarily closed due to high coal prices. 40GW-worth of capacity (55%) is coal-fired, with an annual consumption of 200Mt/yr. The Business Standard newspaper has reported that total Indian coal imports fell by 10% to 23.8Mt in July 2021 from 26.3Mt in June 2021. Deliveries of coal to non-power sector consumers fell by 33% year-on-year at the beginning of August 2021. The Indian Cement Manufacturers Association (CMA) and nine other national industry associations have contacted the government to urge the formation of policies for the equitable distribution of available coal.

India Cements has imported two shipments of Russian coal for use in cement production. The company’s power and fuel costs rose by 54% year-on-year in the first quarter of its 2023 financial year, which began on 1 April 2022. Its vice-chair and managing director Narayanaswami Srinivasan said “Most of our plants have coal-based captive power generation. The cost of captive generation is now more than the grid cost. Hence, we shut down all captive power units and resorted to grid power.”

Vietnam: The State Audit Office of Vietnam (SAV) has uncovered limestone mining activity above licensed levels by multiple subsidiaries of the Vietnam Cement Industry Corporation (VICEM) between 2017 and 2022. In 2021, Vicem Bim Son’s Yen Duyen quarry yielded 499,000t of limestone, 14% above its licensed capacity. That same year, Vicem Hoang Mai extracted 154,000t of limestone from its Hoang Mai B quarry, 8.5% above capacity, while Vicem Tam Diep extracted 111,000t from its Hang Nuoc quarry, 6% above capacity.

The Viêt Nam News newspaper has reported that the SAV has asked Vicem to review the causes of the discrepancy between production and licences and clarify its responsibility.

Poland: Poland produced 9.3Mt of cement in the first half of 2022, up by 8.6% year-on-year from the same period in 2021. The Polish Association of Cement Manufacturers (SPC) recorded an 11% increase in national cement consumption to 6.8Mt during the reporting period. The Institute of Economic Forecasts and Analyses has estimated that full-year demand will reach 20Mt in 2022.

Brazil: Votorantim Cimentos recorded consolidated sales of US$1.17bn in the first half of 2022, up by 22% year-on-year from US$961m in the first half of 2021. Its cost of sales rose by 36% to US$1.05bn from US$777m. As a result, the group made a loss during the half of US$29.6m, compared to a US$85m profit in the first half of 2021. Group cement volumes grew by 1.1% year-on-year to 17.6Mt from 17.4Mt.

CFO Bianca Nasser said “Despite the slowdown in the world economy, Votorantim Cimentos continues to operate within solid financial metrics and with high liquidity, maintaining its investment grade status with a stable outlook attributed by the credit rating agencies Moody’s and Fitch. The company’s leverage remained at stable levels and in line with our financial policy. In May, we carried out a transaction in the international market that repurchased the most expensive debt in our portfolio, taking advantage of attractive market rates. And we used funds from debt issuances in the local market with more attractive rates to finance our operation.”