China: China Tianrui Group Cement Company has reported that its revenue rose by 14% to US$1.40bn in 2013 from US$1.22bn in 2012. Its gross profit remaining static at US$305m in 2013 and its earnings before interest, taxes, depreciation and amortisation rose slightly to US$356m. The Chinese cement producer attributed the rise in revenue to increasing sales volumes of cement in response to a 'proactive' pricing strategy and a general increase in demand driven by rural development and the demand from certain large-scale infrastructure projects, such as the South-North Water Transfer Project.
Sales of cement rose by 19% year-on-year to US$1.30bn in 2013. Sales of clinker fell by 23% to US$107m. By region, the company saw its revenue in its Central China region rise by 13% to US$1.01bn. In Northeastern China its revenue rose by 16% to US$385m. By volume, the company sold 36.9Mt/yr in 2013, a rise of 41.4% from 2012.
In 2013 Tianrui acquired one 1.2Mt/yr clinker production line and six cement production lines with a combined production capacity of 5.3Mt/yr in Liaoning and Henan provinces, at a cost of US$109m.
