Displaying items by tag: Results

Ukraine: Volyn Cement has reported a loss of Euro2.86m for 2012. It recorded a net profit of Euro1.75m in 2011. The company based in Zdolbuniv, Rivne region, saw its net revenue remain stable at Euro62.8m. Multinational cement producer Dyckerhoff owns 98.4% of the shares in Volyn Cement.

Podilskiy Cement has reported a loss of Euro9.6m for 2012. The Khmelnytskyi region-based cement producer saw net revenue rise by 31.2% to Euro92.8m in 2012. Podilskiy Cement's plant has six kilns with a production capacity of 3.7Mt/yr. The business is controlled Ireland's Cement Roadstone Holdings.

India: UltraTech Cement has reported that its profit after tax for the year ending 31 March 2013 rose by 8.5% to US$489m from US$450m. Net sales rose by 10% to US$3.69bn from US$3.34bn.

Although the Aditya Birla subsidiary offered no explanation for its performance it did state in its financial results that the year had seen continuing pressure on input and logistics costs from increases in railway freight and diesel prices, although the price of imported coal had declined. Combined cement and clinker sales of grey cement remained flat at 40.7Mt.

For the fourth quarter of the 2012 -2013 year, UltraTech reported that its profit after tax fell by 16.3% year-on-year to US$134m from US$160m. Net sales remained flat at US$991m.

With the commissioning of new projects in 2012 -2013, the cement producer's production capacity has increased by 4% to 50.9Mt/yr from 48.8Mt/yr. In its report UltraTech mentioned projects it had initiated during the year including a 3.3Mt/yr clinker plant at Rawan in Chhattisgarh, a 1.55Mt/yr grinding unit at Hotgi in Maharashtra and a cement production capacity increase of 0.60Mt/yr at a plant in Gujarat.

Future projects include a 3.3Mt/yr clinker plant in Karnataka that is expected to start operation in the first quarter of the 2014 - 2015 financial year. A 2.9Mt/yr capacity expansion at Aditya Cement Works in Rajasthan, costing US$368m, is expected to be commissioned by March 2015.

In its outlook UltraTech predicted that long-term cement demand is likely to grow by over 8% in line with GDP growth, driven by housing demand and infrastructure development.

China: Tangshan Jidong Cement reported a net profit of US$29.1m in 2012, a drop of 88.2% year-on-year according to a company statement. Operating revenue fell by 7.1% year-on-year to US$2.36bn. Jidong Cement plans to increase its production of cement by 20% in 2013 to 72Mt.

Saudi Arabia: Yamama Cement has reported that its net profit remained stable year-on-year for the first three months of 2013 at US$73.9m. However its net profit rose by 59% from US$46.4m in the fourth quarter of 2012. The company attributed the increase in net profit from the fourth quarter to an increase in domestic demand.

The Arabian Cement Company reported a net income of US$42m for the first three months of 2013, a rise of 7.7% from US$39m year-on-year. Net income doubled from US$21m for the fourth quarter of 2012. Gross profit fell year-on-year by 3.6% to US$44.9m from US$46.5m. The company attributed the year-on-year rise in net income to a decrease in operating expenses and the increase in other income. The decrease in gross profit was attributed to a decrease in sales revenue.

Yanbu Cement Company reported that its net profit rose by 70% to US$65.9m in the first quarter of 2013 compared to US$38.4m in the same quarter in 2012. Net profit rose by 21.4% from US$54.1m in the fourth quarter of 2012. Yanbu's gross and operating profits rose accordingly. The company attributed the rises in profits to increased sales and as a result of the start of 'Line 5 commercial production from April 2012 and Opex efficiencies.'

China: Following a recent trend for declining profits in the Chinese cement sector, Henan Tongli Cement Co Ltd has announced that it expects to record a poor performance for the first quarter of 2013. It says that its net profit will drop by 88.5-99.6% year-on-year to between US$16,100 and US$484,000 in the first quarter of 2013.

Turkey: Adana Çimento reported a total revenue 0.1% lower in the final quarter of 2012 than in the same period of 2011, taking US$41.4m. Its net profit, however, grew by over half year-on-year, rising by 50.2% to US$19.3m for the quarter.

Batisoke Soke Çimento saw its 2012 sales revenue fall by 4.5% to U$45.0m from US$45.2m in 2011.

Bursa Çimento's saw its net profit and revenue both fall in 2012. Its net profit dropped by 73.6% to US$6.7m on revenues that were 9.2% lower than in 2011 at US$274.2m.

Çimsa Çimento saw its revenue increase by 7.9% year-on-year in 2012 compared to 2011, taking US$487m over the year. However, the company saw its net profit fall by 6.5% year-on-year to US$64.5m in 2012.

Çimentas Izmir has reported a net profit of US$16.3m for 2012, 38.2% more than it earnt in 2011. The company has made a profit in four of the past five years. The company's sales revenue came in at US$333.7m for 2012, a 6.9% improvement on 2011 when it took US$297m in sales.

Mardin Çimento made a net profit of US$20.5m in 2012 after it saw its net profit slump by 56.4% compared to 2011. The company's total revenue was down by 19.7% to US$116m.

Unye Çimento's total revenue was down by 19.7% to US$116m in the fourth quarter of 2012, while its net profit for the quarter was 46.8% higher year-on-year at US$10.5m.

Kazakhstan: Steppe Cement, a construction materials producer in Kazakhstan, has announced that it sold 166,121t of cement in the first quarter of 2013 compared to 170,000t in 2012. However, its revenue from cement sales was US$15.1m, 17% higher than the US$12.9m that it took in the first quarter of 2012.

While it sold more cement in the first quarter of 2013 than in the same period of 2012, Steppe Cement was unable to keep pace with expansion in the wider Kazakh market. It saw its domestic market share fall to 15% in the first quarter of 2013 versus 18% in the first quarter of 2012.

Germany: HeidelbergCement said that its profits would be hit by about Euro30m in the second quarter of 2013 due to a fine for infringement of cartel rules. HeidelbergCement said that the fine, a total of Euro161.4m for cartel infringements during the years 1990 to 2002, would not affect its earnings outlook.

Brazil: Votorantim Cimentos saw its net income nearly double in 2012, reaching US$801m in 2012 compared to US$413m in 2011. Its sales revenue rose by 9% to US$4.69bn in 2012 from US$4.30bn in 2011.

"The combination of a favourable market alongside the opening of new factories and mills allowed a 4% increase in sales volume in Brazil, reaching 24Mt," said Votorantim Cimentos in its 2012 results report.

Votorantim's profit was boosted in 2012 by a US$132m gain recognised on stake swap in which Votorantim Cimentos gave its stake in Portuguese cement maker Cimpor to InterCement in exchange for assets in Spain, Turkey, Morocco, Tunisia, China and India, and a deposit in Peru. Additionally the company obtained US$141m in non-cement operating revenue, mainly from tax benefits.

The firm finished 2012 as the world's eight largest cement producer, with a total production capacity of 52.2Mt/yr, including 34 cement plants and 22 grinding plants, according to the report.

Italy: Italian cement producer Buzzi Unicem has seen its net profit fall by 96% to Euro2m in 2012 from Euro54.8m in 2011. The company attributed the fall to a penalisation by impairment of fixed assets and deferred tax assets adjustment.

Buzzi Unicem's net sales remained stagnant at Euro2.81bn in 2012 compared to Euro2.79bn in 2011. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 4.8% to Euro455m form 434m. Net debt was reduced by 18% to Euro1.12bn from Euro1.14bn. In 2012, the group sold 27.3Mt of cement, down by 3.4% from 2011.

In Italy the company saw cement and clinker volumes decline by 20% in 2012. This was the highest annual percentage decrease since the Second World War. In Central Europe cement sales also declined. In Eastern Europe cement volumes declined in Poland, Czech Republic and Ukraine but sales increased by 15% in Russia. In the US demand 'rebounded' but Buzzi Unicem declined to provide any details for its cement business. Finally, in Mexico cement sales volumes rose by 6.2% in 2012.

For its outlook in 2013 Buzzi Unicem expects to see continued growth in the US and Russia, on-going problems in Italy and a stable situation overall in other territories.