Displaying items by tag: Results

UK: RHI Magnesita’s cement and lime business has been held back by reduced production in China. It also said that its on-going focus on pricing and quality, ‘against more commoditised competitors,’ had reduced its division’s performance in the third quarter of 2018. Overall the refractory products producer said that its had seen ‘good’ trading performance in the third quarter of 2018 following positive trends seen in the first half of the year.

India: Dalmia Bharat’s sales rose but its earnings and profit fell in the half-year to the end of September 2018. Its income increased by 10% year-on-year to US$625m from US$570m and its sales volumes grew by 13% to 8.6Mt from 7.6Mt. However, earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 8% to US$126m from US$138m and its profit after tax dropped by over a third to US$7.7m from US$12m.

The cement producer said it had reduced its logistic costs despite an increase in diesel prices. It also reported that its alternative fuels co-processing rate was 5.5% in the second quarter of its 2019 financial year with the company focused on raising this. The board of director also announced that the amalgamation with Odisha Cement had been completed.

India: Ramco Cements’ earnings and profits fell in the six months to the end of September 2018 as fuel and raw material costs rose. Its net profit after tax fell by 26% year-on-year to US$32.6m from US$44.2m in the same period in September 2017. Revenue rose by 15% to US$329m and sales volumes of cement rose by 18% to 50.8Mt. The cement producer said that sales in Kerala had been adversely affected by bad weather in the most recent quarter.

Indonesia: Indocement’s sales revenue rose by 2% year-on-year to US$713m in the first nine months of 2018 from US$696m in the same period in 2017. However, its operating income fell by nearly a third to US$35m from US$97m. The subsidiary of Germany’s HeidlebergCement reported that its cost of sales rose in the reporting period.

Saudi Arabia: Saudi Cement’s sales revenue fell by 5.8% to US$217m in the first nine months of 2018 from US$231m in the same period in 2017. Its net profit after tax decreased by 20% to US$73.5m from US$92.2m. The cement producer has blamed falling sales, rising costs and an increase in Islamic finance charges for its declining profits.

China: China National Building Material’s (CNBM) revenue rose by 21.5% year-on-year to US$22.5bn in the first nine months of 2018 from US$18.5bn in the same period in 2017. Its net profit nearly doubled to US$1.7bn from US$956m.

Pakistan: Lucky Cement’s sales volumes have been supported by exports in its first quarter. Local sales dropped by 9.1% year-on-year to 0.14Mt in the period to the end of September 2018 but exports rose by 85.1% to 0.23Mt. Despite this, its revenue rose by 2% to US$121m from US$118m. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 19.7% to US$25m from US$31m. It said that its cost of sales had increased by 7.3% due to increases in coal, packaging and other fuel prices.

Peru: Higher sales to the self-construction sector, medium-sized companies and the public sector have driven sales growth for Cementos Pacasmayo. Its sales grew by 3.1% year-on-year to US$274m in the first nine month of 2018 from US$266m in the same period in 2017. Its consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 5.1% to US$83m from US$79m.

Cement and clinker production grew by 2.4% to 1.69Mt and 14.7% to 1.30Mt respectively. The building materials producer also reported that quicklime production fell by 23.6% to 97,400t at its Pacasmayo plant due to reduced demand.

China: Anhui Conch Cement’s revenue rose by 55% year-on-year to US$11.2bn in the first nine months of 2018 from US$7.19bn in the same period in 2017. Its net profit nearly doubled to US$3.06bn from US$1.47bn.

Nigeria: Domestic sales volumes of cement by Dangote Cement grew by 11.7% year-on-year to 10.8Mt in the first nine months of 2018, from 9.6Mt in the same period in 2017. However, sales in Sub-Saharan Africa grew slightly to 7Mt due to lower sales in Tanzania, disruptions due to civil unrest in Ethiopia and a reduction in exports from Nigeria to Ghana. This was mitigated by growing sales volumes in Zambia. Sierra Leone and the start-up of operations in the Republic of Congo. The cement company’s revenue rose by 13.5% to US$1.89bn from US$1.66bn and its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 14.6% to US$928m from US$810m.

“Nigerian sales were affected by serious flooding in September 2018 and although Pan-African sales were flat, we will see soon increased sales from Tanzania, now that its gas turbines are installed, and from Ethiopia as local community issues are resolved. We have launched new products in Nigeria that we believe will help us improve our leadership position in Africa’s most exciting market for cement,” said Joe Makoju, Group Chief Executive Officer (CEO).