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News Huaxin Cement fights off decline in cement market

Huaxin Cement fights off decline in cement market

Written by Global Cement staff 03 April 2024
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China: Huaxin Cement grew its revenue and profit in 2023 by growing its concrete market domestically and increasing its international business. Its revenue rose by 11% year-on-year to US$4.67bn in 2023 from US$4.21bn in 2022. However its operating revenue from cement and clinker declined. The group’s net profit increased by 2% to US$382m from US$373m. Its cement sales volumes grew by 2% to 76.8Mt from 75.3Mt. Concrete sales volumes mounted by 66% to 27.3Mm3.

The share of its international business grew by 16% in 2023 from 13% in 2022. Notable acquisitions in 2023 included the purchases of Oman Cement and InterCement’s assets in Sub-Saharan Africa.

Last modified on 15 April 2024
Published in Global Cement News
Tagged under
  • China
  • Huaxin Cement
  • Results
  • GCW653
  • concrete
  • Aggregates
  • Acquisition
  • Oman Cement
  • Oman
  • Intercement
  • South Africa
  • Mozambique

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