Displaying items by tag: Results

Malaysia: Cahya Mata Sarawak’s (CMS) sales from its cement division rose by 7% year-on-year to US$137m in 2019 from US$128m in 2017. Its operating profit fell by 11% to US$22.2m from US$24.9m. CMS attributed the drop in profit on repair costs from maintenance to its integrated plant at Kuching. Rising international clinker prices were also blamed.

Saudi Arabia: Saudi Cement Company’s revenue fell by 5.5% year-on-year to US$299m in 2018 from US$316m in 2017. Its net profit decreased by 11.7% to US$107m from US$121m. It blamed the loss of profit on poor domestic sales, rising selling and marketing costs and an increase in Islamic finance costs.

Turkey: Akçansa’s sales revenue grew by 13% year-on-year to Euro285m in 2018 from Euro252m in 2017. Its net profit increased by 21% to Euro29.8m from Euro24.7m. The joint venture between Sabancı Holding and Germany’s HeidelbergCement attributed its sales growth to continued efforts to protect its domestic market against competition and its growth overseas. Umut Zenar, Akçansa General Manager, said that the company started exporting products from Ambarlı Port in 2018. The cement producer aims to double its exports during 2019.

Australia: Boral Australia’s revenue grew slightly to US$1.31bn in its half year to 31 December 2018. This was supported by growing revenues from its cement, quarry and asphalt businesses. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 8% year-on-year to US$194m from US$210m. This was blamed on lower concrete sales volumes and rising fuel costs.

“Boral’s half year results reflect strong underlying businesses, which were impacted by adverse weather, particularly in North America, as well as project-related volume delays in Australia. We expect to deliver growth in the second half,” said chief executive officer (CEO) and managing director Mike Kane. Overall, the group’s revenue rose but its EBITDA fell.

Jamaica: Caribbean Cement’s revenue rose year-on-year by 6% to US$133m in 2018 from US$125m in 2017. Its profit more than doubled to US$18.7m to US$8.4m.

France: Vicat’s sales rose slightly to Euro2.58bn in 2018 from Euro 2.56bn in 2017. Its cement sales volumes fell slightly to 22.8Mt and its ready-mix concrete sales volumes decreased by 6.7% year-on-year to 9.04Mm³. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 2.2% to Euro435m from Euro444m. However, at constant scope and exchange rates its sales and earnings rose by 5.9% and 2.7% respectively.

“Vicat delivered a satisfying performance in 2018, in a very mixed operating environment that saw large seasonal variations. The dynamism of the group’s sales teams, combined with a very firm grip on costs, allowed us to limit the consequences of the monetary and geopolitical difficulties affecting some of our markets,” said Guy Sidos, the group’s chairman and chief executive office (CEO). He added that the company had also reduced its debt in 2018 and purchased Ciplan in Brazil.

The group reported growth in France in all businesses and good sales in Kazakhstan, India and Turkey. Improvement was noted in the US, despite weather issues, and Senegal. There was a slight fall in sales in Europe, excluding France, and Egypt experienced a ‘sharp’ fall in sales and volumes.

Germany: Poor weather in the US and lower asset sales than expected reduced HeidelbergCement’s earnings in 2018. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 6.8% year-on-year Euro3.07bn in 2018 from Euro3.3bn in 2017. Its revenue rose by 4.7% to Euro18.1bn from Euro17.3bn. Cement sales volumes grew by 3.4% to 130Mt from 126Mt and ready-mix concrete volumes increased by 3.7% to 49Mm3 from 47.2Mm3.

“In operational terms, we were almost able to offset the impact of adverse weather conditions, particularly in the US, and the higher than expected cost inflation through growth in sales volumes and price increases,” said Bernd Scheifele, chairman of the managing board. He added that the company achieved record sales volumes and revenues in 2018. He also said that its action plan is producing its first results, with a reduction in debt to below Euro8.4bn due to portfolio ‘optimisation’ and spending discipline.

By region the group reported that construction activity in North America was hampered by a long winter in the north and heavy rainfall, particularly in the north and southwest of the US. A ‘strong’ level of construction was noted in the group’s Northern and Eastern Europe-Central Asia Group area leading to revenue increases. In Asia-Pacific its operating EBITDA fell by 4.4% due in part to high competition in Indonesia and infrastructure project delays in Thailand. Cement sales volumes growth was reported in most counties in Sub-Saharan Africa.

India: Ambuja Cement’s earnings fell in 2018 due to rising energy and fuel costs. The subsidiary of LafargeHolcim says it has implemented efficiency and cost saving programs to mitigate these effects. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 6% year-on-year to US$265m in 2018 from US$266m in 2017. Despite this, the company’s sales volumes of cement grew by 5% to 24.2Mt from 23Mt. Its sales revenue rose by 7% to US1.54bn from US$1.44bn. Overall, the consolidated results for both Ambuja Cement and its fellow subsidiary ACC, saw growth in EBITDA, net sales and sales volumes of cement.

Colombia: Poor weather in the US reduced Cementos Argos’ sales revenue in 2018. Its sales revenue fell by 1.4% year-on-year to US$2.7bn in 2018 from US$2.74bn in 2017. Cement sales volumes decreased by 1.1% to 16Mt from 16.2Mt. The cement producer said that its cement volumes in the US were impacted by weather and a 43 day halt at its Martinsburg Plant in Texas, US. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 8% to US$494m from US$457m. This was in part due to an improved Colombian construction market.

Chile: Cementos Melón ended 2018 with a 9% growth in profits to US$13.7m. Its net income rose by 4.5% to US$289m. Its earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 2.9% to US$43.2m.