Displaying items by tag: Results

India: The India Cements’ revenue fell by 24% year-on-year to US$244m in the six months to 30 September 2024 from US$320m in the same period in 2023. Its reported loss grew to US$33.3m from US$19.8m. Sales volumes declined by 15% to 4.26Mt from 5.04Mt. The company’s performance was negatively affected by weak cement demand and a significant decline in prices, according to the Hindu newspaper. It also said that is was unable to benefit from lower fuel costs, particularly petcoke, as lower sales volumes reduced its margins. The cement producer was purchased by UltraTech Cement in July 2024.

Paraguay: Gerardo Guerrero, the president of Industria Nacional del Cemento (INC), says that the state-owned company is close to reaching its target of producing 11 million bags of cement in 2024. In October 2024 it manufactured 1.07m bags of cement and sold 1.27m, according to the Agencia de Información Paraguaya. Guerrero attributed the achievement to the company switching its supply chain to land-based transport due to poor conditions on the Paraguay River. INC reportedly has a 37% market share. It operates an integrated cement plant at Vallemí and a grinding unit at Villeta.

Greece: Titan Cement has announced its financial results for the first nine months of 2024. The group’s sales increased by 5% year-on-year to €1.99bn. Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the period reached €455m, marking a 15% year-on-year increase. Net profit after tax also rose by 20% during the period to €238m.

In terms of regional performance, the US business saw an increase of 4.2% year-on-year to €1.15bn and EBITDA growth of 20%. Greece and Western Europe experienced an 8.4% increase in sales to €324m, though EBITDA declined by 4.5% year-on-year. Southeast Europe saw an increase in sales of 4% to €327m with EBITDA rising by 19% during the period. Meanwhile, in the Eastern Mediterranean region, sales improved by 5% to €183m, despite a 21% reduction in EBITDA. Titan Cement said that it maintains a positive outlook for the remainder of 2024, driven by solid pricing and overall healthy volumes.

Germany: In the first nine months of 2024, Heidelberg Materials' sales fell by 2.1% to €15.75bn from €16.8bn in the same period of 2023. The result from current operations before depreciation and amortisation rose by €101m or 3% to €3.28bn, while the result from current operations increased by €58m or 2.6% to €2.33bn.

The company’s businesses in Europe reported a revenue of €7.1bn in the nine-month period, a 2.7% decrease from €7.3bn in 2023. In North America, Heidelberg Materials reported a revenue of €3.98bn, marking a 0.5% increase from January - September 2023. In the Asia-Pacific region, revenue decreased by 5.2% to €2.6bn, and the Africa-Mediterranean-Western Asia region also saw a decline of 6.2% year-on-year to €1.65bn.

Ireland: CRH reported a rise in revenue to €9.56bn in the third quarter of 2024, up by 4% year-on-year. Net income grew by 5% in the third quarter to €1.27bn. Adjusted earnings by interest, taxation, depreciation and amortisation (EBITDA) rose by 12% to €2.28bn.

For the first nine months of 2024, total revenues increased by 2% to €24.3bn. Year-to-date net income grew by 13% to €2.55bn, with adjusted EBITDA also up by 12% to €4.73bn. Despite adverse weather, CRH anticipates positive market dynamics to continue into 2025, projecting net income between €3.44bn and €3.5bn and adjusted EBITDA between €6.25bn and €6.34bn. ​

Jamaica: Caribbean Cement has reported a decline in its September 2024 quarter sales by 11% year-on-year, falling to US$37.2m. Third quarter operating earnings dropped by 76% to US$3.6m, largely due to Hurricane Beryl impacting sales and production, alongside increased costs from a scheduled plant maintenance. Earnings before taxation for the third quarter also saw a 69% decline to US$4.8m, and net income dropped by 66% to US$4.2m. ​

From January – September 2024, however, revenue slightly rose by 1% to US$129m. Operating earnings for the nine-month period reached US$36m, up by 4.3% year-on-year. Earnings before taxation for the nine months grew by 11% year-on-year to US$37.2m, while consolidated net income was US$30m, a 12% increase year-on-year.

Thailand: Siam Cement Group (SCG) plans to cut costs by US$147m in 2025 to address a 75% year-on-year fall in nine-month profit to US$202m. Despite stable revenue of US$11.2bn during the period, earnings before interest, taxation, depreciation, and amortisation (EBITDA) dropped by 10% year-on-year to US$1.15bn.

In the third quarter of 2024, SCG reported revenue of US$3.79bn and EBITDA of US$292m, with profits dropping by 81% to US$21.3m due to currency exchange losses.

SCG aims to boost liquidity by selling assets and enhancing production efficiency, including a 50% increase in alternative fuel use in cement production, according to The Nation newspaper. Non-profitable businesses will be suspended, with further evaluations by mid-2025.

Thammasak Sethaudom, president and CEO of SCG, anticipates only a 3% rise in revenue for the coming year amidst global economic fluctuations and regional market challenges.

US: Summit Materials has announced a 50% year-on-year increase in net revenue to US$1.11bn for the third quarter of 2024, attributed largely to the acquisition of Argos US. The company's operating income rose by 52% in the third quarter to US$195m. Despite these gains, net income decreased to US$105m from US$230m in the same period in 2023. Adjusted earnings by interest, taxation, depreciation and amortisation (EBITDA) for the quarter increased by 51% to US$314.7m, reflecting contributions from the Argos US assets, pricing gains and operational improvements.

The cement segment saw net revenues rise to US$323m. However, organic sales volumes fell by 11% due to adverse weather and moderating demand, leading to lower imported volumes. For the full year 2024, Summit has adjusted its EBITDA forecast to between US$970m and US$1bn and expects capital expenditures to be between US$390m and US$410m.

North Macedonia: Cementarnica Usje, a subsidiary of Titan, reported a 40% year-on-year increase in net profit to US$26.5m for the January - September 2024 period. The company's total operating revenues remained stable compared to 2023’s figures at approximately US$79.7m, while its total operating expenses decreased by 12% year-on-year to around US$50.9m, according to its financial statement.

Spain: Molins announced a revenue of €1bn for the first nine months of 2024, down by 5% year-on-year, impacted by lower volumes and currency fluctuations. Particularly in Argentina, economic instability and currency devaluation affected performance. Net profit rose by 23% year-on-year to €153m, while earnings before interest, taxation, depreciation and amortisation (EBITDA) totalled €274m, a decrease of 1% from the corresponding period in 2023.