26 July 2024

Mexico: Cemex has reported its first-half results for 2024. Net income fell by 15% to US$230m, although earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 2% to US$965m. Sales remained flat at US$4.5bn. They rose in Mexico by 13%, to US$2.7bn, and in Central and South America and the Caribbean by 3%, to US$879m. However, they fell in the US by 2%, to US$2.6bn, and in Europe, the Middle East, Africa and Asia by 8%, to US$2.24bn.

Fernando Gonzalez, CEO of Cemex, said "These results demonstrate the effectiveness of our commercial management and growth strategy. The price contribution of our products continues to outpace our input cost inflation."

France: Vicat’s results for the first half of 2024 showed a turnover of €1.94bn, up by 1.3% compared to the same period in 2023. Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the period increased by 12% year-on-year. The group expects 3 – 8% growth in full-year EBITDA in 2024. Despite an unfavourable exchange rate effect, mainly due to the depreciation of the Turkish and Egyptian Pounds against the Euro, consolidated net income rose by 5% year-on-year to €115m.

UK: Breedon Group has announced its results for the six-month period ending on 30 June 2024. The company recorded revenues of US$984m, up by 3% year-on-year from US$956m in the same period in 2023. Net income was US$44m, representing a year-on-year decline of 28%. Earnings before interest, taxation, depreciation and amortisation (EBITDA) stood at US$133m, slightly less than US$134m reported previously.

Breedon Group anticipates growth in ‘all of its markets’ from 2025 as economic and political landscapes stabilise.

Zimbabwe: Khayah Cement plans to invest approximately US$25m in capital expenditure in 2024, focusing on a kiln refurbishment project at its plant in Harare. The investment aims to increase production capacity and sales volumes, NewsDay Business News has reported. Preparatory work has begun, with completion expected by the end of 2025.

Khayah Cement's CEO, Innocent Chikwata, said that the project will address issues with its current equipment and stabilise the company’s operations by ensuring a reliable supply of raw materials. He noted that the plant's current capacity utilisation rate is 60%, with a target of 70% by the end of 2024.

US: Peru-based Unacem recorded a rise in cement sales volumes in its US operations during the second quarter of 2024 to 324,000t, a 96% increase from the same period in 2023. It partly attributed the growth to the addition of the Tehachapi plant in California in August 2023, which contributed 159,000t during the reporting period, Noticias Financieras News has reported.

However, in the Peruvian market, Unacem reported cement sales volumes of 1.37Mt, down by 2.8% compared to the second quarter of 2023.