Displaying items by tag: Results

Switzerland: LafargeHolcim has blamed falling earnings in the first quarter of 2018 on poor weather in North America and Europe. Its recurring earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 7.7% on a like-for-like basis year-on-year to Euro587m from Euro678m in the same period in 2017. Its net sales rose by 3.1% to Euro4.89bn and its cement sales volumes rose by 3.2% to 47.7Mt on a like-for-like basis.

By region cement sales volumes fell on a like-for-like basis in Europe, Middle East Africa and North America. LafargeHolcim said that cement volumes were down slightly in its Middle East Africa region due to a mixed outlook in the region with ‘challenging’ conditions in key markets. In Asia Pacific it said that China and India drove its growth in sales and profits but that there was continued pressure in South East Asia.

“Though the quarter was affected by several headwinds, we expect the strength of our portfolio and the benefits of our new strategy to become increasingly visible over the full year. That makes us confident we will deliver on our 2018 targets,” said Jan Jenisch, Group Chief Executive Officer of LafargeHolcim. He added that the group was conducting its Strategy 2022 reorganisation plan.

Saudi Arabia: Southern Province Cement’s sales fell by 9.6% year-on-year to US$73m in the first quarter of 2018 from US$80.8m in the same period in 2017. Its net profit fell by 2.9% to US$27.2m from US$28m. It blamed the falling sales and profit on decreased demand.

Philippines: Eagle Cement’s profit for the first quarter of 2018 has grown due to higher sales volume and efficiency gains. Its net profit rose by 3% year-on-year to US$21.3m, according to the Philippine Daily Inquirer newspaper. Its sales revenue rose by 6% to US$77.4m. The cement producer attributed its increase in sales volume to efficient production methods at its cement plant.

France: Vicat’s sales in Turkey, the US and Kazakhstan have driven its growth in the first quarter of 2018. Its sales revenue for its cement business rose by 10.9% year-on-year at constant scope and exchange rates to Euro290m in the first quarter of 2018. Its cement sales volumes rose by 6.5% to 5.2Mt from 4.9Mt.

“We posted significant business growth in Turkey, the US and Kazakhstan, excluding currency effects. The gradual recovery continued in France and India was boosted by the start-up of new infrastructure projects. Conversely, we recorded a business contraction in Switzerland during the first quarter as a result of adverse weather conditions, especially in March 2018, and the completion of a number of major projects. The group’s business trends in Egypt were hampered by the military operations underway to restore security in its production area,” said group chairman and chief executive officer (CEO) Guy Sidos.

Indonesia: Semen Indonesia’s net profit fell by 45% year-on-year to US$29.6m in the first quarter of 2018 from US$54m in the same period in 2017. It blamed the decline on fuel costs and rising debt payments, according to Reuters. Despite this, its sales revenue rose by 3.4% to US$476m from US$460m. Its cement sales volumes rose by 4% to 6.79Mt from 6.53Mt. The majority of this rise came from exports, which increased by 44.9% to 0.6Mt from 0.41Mt.

Czech Republic: Cement Hranice’s cement sales rose by nearly 9% year-on-year in 2017 due to despatches to fellow subsidiaries of Buzzi Unicem in the Czech Republic and Slovakia. Its overall sales rose by 6.3% to Euro61.5m from Euro57.9m, according to the Czech News Agency. Board member Roman Michalcik said that the local construction sector had grown in 2017 due to good weather towards the end of the period and large local infrastructure projects.

Pakistan: Lucky Cement’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 21.6% year-on-year to US$114m in the nine month of its financial year to the end of March 2018 from US$145m in the same period in 2016. It noted that its cost of sales rose by 16.9% due to rising coal and other fuel prices. Its gross revenue rose by 7.1% to US$439m from US$410m. Cement production rose by 11.1% to 5.79Mt from 5.2Mt.

The cement producer added that it is expanding production at its Pezu plant by 2.6Mt/yr due to delays with its expansion plans elsewhere in the north of the country. Approvals from the government have been secured. The US$152m upgrade project is scheduled to be completed by the fourth quarter of 2019. It is also building a US$109m integrated cement plant at Samawah in Iraq. The joint-venture project with a local partner will have a cement production capacity of 1.2Mt/yr when operational. Commercial production is currently scheduled for end of 2019.

Peru: UNACEM’s cement despatches for the first quarter of 2018 have fallen slightly due to a contraction in the construction market, delayed infrastructure projects and political instability leading to lower private investment. The cement producer’s income rose by 8.9% year-on-year to US$147m in the first quarter of 2018 from US$135m in the same period in 2017. Its clinker production fell by 12.9% to 1Mt and its cement production fell by 0.6% to 1.2Mt. It attributed the fall in production to a scheduled maintenance shutdown of its Atocongo plant. However, clinker exports through the Port of Conchán increased to 0.28Mt in the period.

China: China National Building Materials' operating revenue rose by 40% year-on-year to US$394m in the first quarter of 2018 from US$281m in the same period of 2017. Its net profit more than doubled to US$77.4m from US$23.6m.

India: UltraTech Cement’s consolidated net sales rose by 34% year-on-year to US$1.39bn in the fourth quarter of its 2017 financial year from US$1.04bn in the same period in the previous year. Its profit before interest, depreciation and taxation increased by 20% to US$283m from US$236m.

The group benefitted from its acquisition of assets from Jaiprakash Associates in mid-2017. Its cement production capacity grew by 28% to 85Mt/yr from 66.3Mt/yr. However, its capacity utilisation rate fell slightly to 80% from 82%. Its local sales rose by 32% to 17.6Mt from 13.4Mt and exports increased by 15% to 0.82Mt from 0.72Mt. The cement producer also warned that a rise in petcoke and coal prices following a government ban had caused its input costs to inflate during the reporting quarter.