Displaying items by tag: Results
HeidelbergCement loss down in first quarter
04 May 2016Germany: HeidelbergCement has announced its results for the first quarter of 2016. While its revenue was completely flat at Euro2.8bn, cement volumes rose from 16.8Mt in the first quarter of 2015 to 17.6Mt in the first quarter of 2016. However, the group maintained an operating loss of Euro72m, albeit a significant improvement on the Euro123m lost a year earlier. HeidelbergCement’s net debt was down by Euro237m to Euro5.9bn.
The group highlighted improving demand in the US as among the reasons for its improved performance. Cement volumes increased by 6% year-on-year in each of the two years to March 2016. Revenue in the US and Canada was Euro714m, a rise of 14.6% year-on-year. Net income for the region was Euro24m, a turnaround from a loss of Euro18m in the first quarter of 2015.
In Western Europe, positive cement sales trends were led by Germany and the UK, with the Netherlands and Belgium also contributing well. Cement sales in the region were up by 3.1% year-on-year for the quarter to a total of 3.4Mt. Volumes were also up in Scandinavia (1.7% year-on-year), Eastern Europe (6.6%) and in the group’s Central Asia, Russia and Ukraine region (0.7%).
In Western and Southern Europe revenue was down by 2.1% to Euro683m. The region, however, saw a loss of Euro8m for the quarter. Cement sales revenue improved by 1.8% to Euro290m, against a backdrop of falling aggregates, ready mix and asphalt revenues.
In North and Eastern Europe and Central Asia, cement volumes were 2.9% up year-on-year to 3.9Mt. Revenue for the region was Euro420m, a rise of 9.7% year-on-year, with cement revenues up nearly 7% to Euro225m. The group’s net loss in this region increased marginally, to Euro28m from Euro25m a year earlier.
In the group’s Asia-Pacific region, Indonesia saw better market conditions, driven by the arrival of new infrastructure works. India saw moderate increases in volume and Australia also improved. China saw lower prices and sales volumes. The total volume of cement sold in the region during the quarter was 5.8Mt and the region’s revenue was Euro637m. This generated a profit of Euro120m, a 18.8% decline on the preceding year’s profit of Euro148m.
In Africa and the Eastern Mediterranean Basin cement volumes were virtually flat at 1.9Mt. Total revenue was slightly down from Euro252m in 2015 to Euro240m in the three months to March 2016. Revenues from cement-based operations were down by 8.7% to Euro177m.
Excluding exchange rate and consolidation effects, HeidelbergCement now expects a moderate increase in revenue and a high single to double digit increase in operating income and before non-recurring effects profit for the financial year. The company also expects increases in sales volumes of cement, aggregates and ready-mixed concrete.
CCNN revenue and income down in first quarter
04 May 2016Nigeria: The Cement Company Of Northern Nigeria (CCNN) has reported a net revenue of US$17.9m for the first quarter of 2016, compared to US$22.2m in the same period a year earlier. This represents a 19% decrease year-on-year. CCNN’s profit before income tax dropped more dramatically, falling by 61% to US$1.79m from US$4.67m.
Mykolaivcement cuts loss in 2015
04 May 2016Ukraine: Mykolaiv-based Mykolaivcement reduced the loss that it made by 25.3% to US$8.75m in 2015, having boosted its net revenue by 31.9% to US$27.2m.
CRH reports 9% rise in sales in first quarter of 2016
27 April 2016Ireland: CRH has reported in a trading update that its overall sales rose by 9% year-on-year in the first quarter of 2016. By region it saw a 22% increase in the Americas, a 12% increase in Asia and no increase in Europe. No specific figures were released in the statement issued ahead of the company annual general meeting.
The Ireland-based construction materials producer’s Europe Heavyside division noted that cement sales volumes grew in the UK and Finland. Cement sales volumes were ‘broadly in line with 2015’ in Poland. In the Philippines CRH reported that cement demand was supported by strong foreign direct investment in the business process outsourcing sector, overseas workers' remittances and increasing government infrastructure spending.
CRH expects demand for its products to grow in the US and the Philippines in its outlook for the second half of 2016. In the US funding for infrastructure is expected to increase moderately with improving state finances and the passing in 2015 of the Fixing America's Surface Transportation (FAST) Act. It also expects residential and non-residential construction to grow.
China: Anhui Conch Cement’s net profit has dropped by 45% year-on-year to US$123m in the first quarter of 2016 from US$233m in the same period in 2015. Its revenue fell by 5.5% to US$1.63bn from US$1.73bn. It attributed the decreases in profit and sales revenue to falling prices.
India: UltraTech’s net profit has risen by 8% year-on-year to US$479m for its financial year that ended on 31 March 2016 from US$449m in the same period in the previous financial year. Its net sales rose by 5% to US$3.8bn from US$3.6bn. It reported that its portland cement sales volumes grew by 8% to 46.9Mt in the 2015 – 2016 financial year from 43.4Mt. It noted that its operating costs fell due to improved operational efficiency, a better fuel mix and a fall in fuel prices.
The Indian cement producer commissioned a 6MW waste heat recovery (WHR) system at Chittorgarh, Rajasthan during the January to March 2016 quarter. Overall, it generates 59MW from WHR. Since commissioning cement grinding plants at Jhajjar, West Bengal and Patliputra, Bihar the company’s cement production capacity is 66.3Mt/yr. It also signed a Memorandum of Understanding to buy cement plants from Jaiprakash Associates in late February 2016. The cement plants altogether have a total cement production capacity of 22.4Mt/yr.
In its outlook UltraTech expects cement demand to grow by up to 8% in the 2016 – 2017 financial year. This will be supported by government infrastructure and housing development.
China Resources Cement revenue falls by 24% to US$609m
25 April 2016China: China Resources Cement’s revenue has fallen by 24% year-on-year to US$609m in the first quarter of 2016 from US$800m in the same period in 2015. Its gross profit fell by 39% to US$126m from US$207m. However, its profit attributable to the owners of the company fell by 99% to US$0.85m from US$85.1m. It blamed the drop in gross profit on lower selling prices in the quarter compared to 2015.
The cement producer reported that its sales volumes of cement grew by 6% to 15.8Mt in the quarter. Rises in sales volumes were reported in Guangxi, Yunnan and Guizhou.
Lafarge Zimbabwe posts US$1.97m loss in 2015
25 April 2016Zimbabwe: Lafarge Cement Zimbabwe has reported a loss after tax of US$1.97m year-on-year in 2015. The company blamed it on a sub-optimal portfolio and price mix despite sales volumes growth. Its revenue grew by 2% to US$61.6m from US$60.5m and its cement sales volumes grew by 5%, according to the Herald newspaper.
The subsidiary of LafargeHolcim said that sales volumes were aided by its strategy of targeting distribution better supported by improvements in the local market. However, it added that sellers’ demand for discounts when buying in bulk have adversely affected cement prices. The cement producer expects prices to stay low in 2016 but it will aim for increased profits by cutting operational costs and increasing marketing.
Mexico: Cemex’s net sales have risen by 3% year-on-year to US$3.2bn in the first quarter of 2016 when adjusted for ongoing operations and for currency fluctuations. Its adjusted gross profit rose by 10% to US$1bn and its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 3% to US$583m before adjustment. The Mexico-based cement producer attributed the rising sales to higher prices and sales volumes increases in selected territories.
“We continue to see favourable results from the implementation of our value-before-volume strategy, with increases in sequential pricing in our three core products,” said Cemex chief executive Fernando A Gonzalez.
The company’s overall cement sales volumes rose slightly to 15.6Mt from 15.5Mt. By region, cement volumes rose by 8% in the US, by 3% in South American, Central America and the Caribbean and by 10% in Asia, Middle East and Africa. Volumes remained static in Europe and fell by 13% in Mexico.
Vietnam: Ha Tien 1 Cement has said that its net profit fell by 48% year-on-year to US$5.86m in the first quarter of 2016. It blamed the drop in profit on currency variations. Its net revenue rose by 9% to US$78m in the period.