Displaying items by tag: Results
EAPCC posted full-year net loss
27 October 2014Kenya: EAPCC has posted a net loss of US$4.32m for the year that ended on 30 June 2014. The company said that it had been hurt by price competition, high staff costs and the weakening Kenyan shilling. In the year that ended 30 June 2013, EAPCC posted a net profit of US$18.9m.
EAPCC said that it hopes to capitalise on the growing construction industry and plans to spend US$27.9m in the coming year on new investments. "The company has not been left behind and is aggressively investing in new machinery and equipment to increase efficiency and capacity," said EAPCC. However, it added that, "The market will continue to be highly competitive and is likely to see declining prices for the foreseeable future."
Cemex reports third quarter 2014 results
24 October 2014Mexico: Cemex has announced that its consolidated net sales reached approximately US$4.1bn during the third quarter of 2014, an increase of 4% on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2013. On a like-for-like basis, operating earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 3% during the quarter to US$767m versus the same period in 2013. The increase in consolidated net sales on a like-for-like basis was due to higher volumes in Mexico, the US and the South, Central America and the Caribbean and Asia regions, as well as higher prices of its products in most operations.
Net operating earnings before other expenses in the third quarter increased by 5% to US$491m. Operating EBITDA increased, on a like-for-like basis, by 3% during the quarter to US$767m. Cemex reported a narrower controlling interest net loss of US$106m during the third quarter of 2014, from a loss of US$155m in the same period of 2013.
"We are pleased with the year-to-date trends in our consolidated volumes and prices, despite the more challenging economic conditions during the quarter, especially in Europe," said Fernando A González, CEO. "We continue to see favorable medium-term growth prospects for our regions, especially in the Americas, where we expect most of our mid-term EBITDA growth. We are comfortable with the steps taken so far towards attaining an investment-grade capital structure target both on the financial and operating side."
Net sales in Mexico increased by 4% in the third quarter of 2014 to US$803m compared with US$776m in the third quarter of 2013. Operating EBITDA decreased by 1% to US$245m versus the same period of 2013.
Cemex's operations in the US reported net sales of approximately US$1.0bn in the third quarter of 2014, up by 13% from the same period in 2013. Operating EBITDA increased by 74% to US$136m in the quarter versus US$78m in the same quarter of 2013.
In Northern Europe net sales for the third quarter of 2014 decreased by 3% to approximately US$1.1bn, compared with approximately US$1.2bn in the third quarter of 2013. Operating EBITDA was US$144m for the quarter, 11% lower than the same period of 2013.
Third-quarter net sales in the Mediterranean region were US$400m, 7% higher compared with US$375m during the third quarter of 2013. Operating EBITDA increased by 4% to US$81m for the quarter versus the comparable period in 2013.
Cemex's operations in South, Central America and the Caribbean reported net sales of US$585m during the third quarter of 2014, representing a decrease of 2% over the same period of 2013. Operating EBITDA decreased by 6% to US$199m in the third quarter of 2014, from US$210m in the third quarter of 2013.
Its operations in Asia reported a 9% increase in net sales for the third quarter of 2014 to US$151m, versus the third quarter of 2013 and operating EBITDA for the quarter was US$40m, up by 11% from the same period of 2013.
UltraTech’s second quarter 2015 profit grows
20 October 2014India: UltraTech has reported a higher net profit in the second quarter of fiscal 2015, on a standalone and consolidated basis, off the back of increased sales. Second-quarter standalone net profit grew by 55% to US$66.9m compared to US$43.1m in the second quarter of 2014. Quarterly net sales stood at US$878m, 20% higher than US$735m in the prior year quarter.
"During the quarter, domestic cement sales volumes increased by 11% on the back of higher demand and additional volume from the acquired units in Gujarat," said UltraTech. "Costs were impacted mainly on account of increase in prices of petcoke, input material and royalty on limestone."
For the first half of 2015, the company's net profit was US$169m, up by 11% from US$153m in the corresponding period of 2014. Net sales and other operating income rose by 17% to US$1.81bn from US$1.56bn for the comparable period of 2014. The combined domestic cement and clinker sales were 10.4Mt, up by 12% from 9.22Mt in 2014, while white cement and wall care putty sales volumes amounted to 302,000t, up by 3% compared to 294,000t in the year-ago quarter.
Eurocement’s Mikhailovcement plant produces 1.21Mt of cement in January - September 2014
14 October 2014Russia: Eurocement's Mikhailovcement plant in Ryazan produced 1.21Mt of cement in January - September 2014, up by 20.2% on the same period of 2013. This includes 281,350t of CEM I 42.5H (+65.6%) and 981,620t of clinker (+17%). A total of 1.23Mt (+21.1%) was shipped to customers. The plant extracted 1.27Mt of limestone (+16.9%) and 439,860t of clay (17.2%) from its quarry during the first nine months of 2014.
Oman: Raysut Cement reported a 17.8% increase in quarterly net profit after tax in the third quarter of 2014, according to Reuters. It made US$13.8m in July – September 2014 compared with US$11.7m in the corresponding period of 2013.
China: Anhui Conch Cement Co Ltd has announced that its output and sales of its major subsidiaries hit record highs in September 2014.
Its Foshan subsidiary in Guangdong Province saw sales exceed 10,000t/day for five consecutive days in September 2014, with average sales stablising at 8000t/day. Anhui Conch claimed that the subsidiary's September 2014 output, sales, clinker and cement production all hit new highs in 2014, with output and clinker cement production reaching historical highs.
In Jiangxi Province, its Ganjiang subsidiary witnessed 67% year-on-year growth in sales in September 2014. Anhui Conch's production in Guangxi was also robust. Its Beiliu unit completed 104% of its production target in the third quarter of 2014, while its Tongling unit produced over 10Mt of clinker cement in the first nine months of the year.
Steppe Cement reports third quarter 2014 improvements
09 October 2014Kazakhstan: Steppe Cement Ltd has reported third quarter 2014 revenues of US$4.21m, higher than the US$39.8m it reported in the same period of 2013. Cement sales volumes of 582,429t were achieved during the third quarter 2014, up by 16% from the third quarter of 2013.
Poland’s production fell by 4.5% in August
08 September 2014Poland: Poland's year-to-date cement production increased by 11.9% year-on-year to 10.2Mt, while sales in the same period rose by 10.7% to 10.3Mt. In August 2014 cement production declined by 4.5% year-on-year to 1.51Mt, while sales fell by 9.7% year-on-year to 1.46Mt, according to Poland's Cement Producer Association.
Kohat Cement profits up by 20%
08 September 2014Pakistan: Kohat Cement Company Limited posted profits of US$30.9m for the year that ended on 30 June 2014, up by 20% year-on-year against US$25.8m. Cement sales increased to US$125m compared to US$111m in the same period of the previous year. Other income increased to US$2.60m from US$354,248 during the prior year.
China Tianrui first half 2014 net profit rose by 15.6% to US$53.2m
03 September 2014China: China Tianrui Group Cement Company has announced that its profit attributable to owners for the six months that ended on 30 June 2014 rose by 15.6% year-on-year to US$53.2m. Revenue was US$699m, an increase of 15.4% from a year earlier. The company's gross profit margin increased to 22.3% in the first half of 2014 from 21.6% in the first half of 2013, which was primarily due to the lower cost of sales and slightly higher cement sales prices.