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Displaying items by tag: Results

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India Cements’ sales drop in loss-making fourth quarter of 2022 financial year

27 May 2022

India: India Cements’ fourth-quarter sales were US$183m in its 2022 financial year, which ended on 31 March 2022, down by 4% year-on-year from US$190m in the corresponding quarter of the 2021 Indian financial year. The producer’s net loss was US$1.37m, as against a first-quarter 2021 financial year net profit of US$6.47m. During the quarter, the company’s cement sales volumes fell by 1.4% to 2.63Mt from 2.67Mt, while its clinker sales volumes fell by 88% to 38,000t from 324,000t. For the full 2022 financial year, India Cements’ sales of cement rose by 2% to 9.07Mt from 8.9Mt. Coal costs ended the financial year at US$300/t, five times the 31 March 2021 price of US$60/t.

India Cements said “The spiralling prices of fuel, along with the shortage in availability of the same, affected the margins of the industry. The woes of the industry worsened further with the outbreak of Russia's war with Ukraine resulting in sanctions being imposed on Russia and its exports, fuelling further shortage of coal and oil in the market.”

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Grasim Industries records increased sales and profit in 2022 financial year

25 May 2022

India: Grasim Industries' full-year consolidated sales were US$12.3bn in the 2022 financial year, up by 25% year-on-year from US$9.85bn. Its net profit rose by 60% to US$1.44bn from US$901m.

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Najran Cement reports first quarter 2022 results

25 May 2022

Saudi Arabia: Najran Cement recorded sales of US$37.3m in the first quarter of 2022, down by 24% year-on-year from US$49.2m. The producer's net profit was US$6.21m in the quarter, down by 61% from US$16.1m. During the quarter, the production costs increased for the company.

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Ramco Cements increases profit as earnings drop in 2022 financial year

24 May 2022

India: Ramco Cements’ earnings before interest, taxation, depreciation and amortisation (EBITDA) in the 2022 financial year were US$169m, down by 17% year-on-year from US$204m in the 2021 financial year. The producer’s profit after tax also rose by 17%, to US$115m from US$98m.

The Hindu Business Line newspaper has reported that the company attributed its full-year earnings decline to increased fuel costs and reduced cement prices. In the fourth quarter of the 2022 financial year, power and fuel costs rose by 88% year-on-year to US$60.1m from US$31.9m.

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Arabian Cement increases sales in profitable first quarter of 2022

24 May 2022

Egypt: Arabian Cement more than doubled its consolidated sales year-on-year to US$57.4m in the first quarter of 2022 from US$23.4m in the first quarter of 2021. During the quarter, the producer recorded a profit of US$3.19m, compared to a US$343,000 loss in the corresponding quarter of 2021.

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Shree Cement’s sales and profit rise in 2022 financial year

23 May 2022

India: Shree Cement recorded standalone sales of US$1.84bn in its 2022 financial year, corresponding to a rise of 13% year-on-year from US$1.63bn in the 2021 financial year. Profit after tax for the year was US$306m, up by 2.8% from 298m.

In the fourth quarter of the 2022 financial year, Shree Cement’s energy costs rose by 10% year-on-year and equalled 26% of its sales, while transport costs fell by 1.1% to 23% of sales. Raw materials costs equalled 6.6% of the quarter’s sales.

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Nuvoco Vistas raises sales in 2022 financial year

23 May 2022

India: Nuvoco Vistas recorded full-year consolidated sales of US$1.2bn in its 2022 financial year, up by 24% year-on-year. The group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) remained level year-on-year at US$198m. Its profit after tax also remained level at US$4.12m.

The Pioneer newspaper has reported that Nuvoco Vistas’ Chittor cement plant achieved an alternative fuel (AF) substitution capacity of 23% during the 2022 financial year. The group says that it remains focused on increasing its proportion of blended cement products, in addition to AF and waste heat recovery (WHR) projects.

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Eagle Materials increases sales and earnings in 2022 financial year

20 May 2022

US: Eagle Materials has recorded consolidated sales in its 2022 financial year of US$1.9bn, up by 15% year-on-year. The group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$657m, up by 15%. Full-year cement sales totalled US$1bn, up by 7%, with operating earnings of US$260m, up by 11%. The group’s cement volumes rose by 1% to 7.5Mt.

President and CEO Michael Haack said "As we look back on another extraordinary year, I am extremely proud of our team's ability to deliver record operating and financial results despite multiple external challenges, including transportation disruptions, supply chain constraints and, of course, continuing to navigate the Covid-19 pandemic.” He added "As we begin our new fiscal year, Eagle is well-positioned, both financially and geographically, to capitalise on the underlying demand fundamentals that are expected to support steady and sustainable construction activity growth over the near and long term. We expect that infrastructure investment should increase in the latter part of our fiscal year, as federal funding from the recently enacted Infrastructure Investment and Jobs Act begins in earnest. And, despite recent interest rate increases, housing demand remains strong across our geographies, outpacing the supply of homes. Nonresidential construction activity is also picking up."

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2022 financial year brings increased sales and profit for JK Lakshmi Cement

19 May 2022

India: JK Lakshmi Cement’s full-year consolidated sales were US$697m in its 2022 financial year, up by 14.6% year-on-year from US$608m in the 2021 financial year. The group’s net profit was US$61.5m, up by 13.4% from US$54.2m.

The producer said "Despite unabated increases in petcoke and diesel prices, which are hovering at all-time high, JK Lakshmi Cement was able to achieve healthy profitability through continuous improvements in operational efficiencies, energy costs, better product mixes and higher volumes."

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Kuwait Portland Cement increases sales and profit in first quarter of 2022

19 May 2022

Kuwait: Kuwait Portland Cement more than doubled its sales year-on-year in the first quarter of 2022, to US$107m from US$45m in first quarter of 2021. The company’s net profit also rose, by 69% to US$7.18m from US$4.24m.

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