Displaying items by tag: Results
CNBM reports revenue up by 14% to US$35.5bn in 2012
06 February 2013China: China National Building Material Group (CNBM) has reported that its operations revenue in 2012 grew by 14% year-on-year to US$35.5bn. The Chinese state-owned building materials manufacturer saw its profit reach US$1.81bn, while its net profit for the year hit US$1.38bn. As the end of 2012, CMBM had US$46bn in total assets, 38% more than at the end of 2011.
China cement news in brief
06 February 2013Production in 2012: China built 124 new dry-process cement production lines and added 160Mt of cement clinker production capacity in 2012, according to the China Cement association. China had 1637 dry-process cement production lines with a production capacity of 1.6Bnt/yr of clinker by the end of 2012.
Sichuan Province in south-western China has seen its cement output climb by 2.02% year-on-year to 130Mt in 2012, according to the local Statistics Bureau. In 2012, Sichuan's cement industry recorded US$7.68bn in total output value, a year-on-year increase of 1.87%. Meanwhile, the industry's profit rose by 0.81% year-on-year to US$0.44bn.
North China's Hebei Province's cement output reached 128.1Mt in 2012. The province's building materials industry recorded US$1.7bn in profit in 2012, a year-on-year decrease of 21.8%.
East China's Jiangxi Province saw its cement output increase by 10.2% to 76.4Mt in 2012, according to the local branch of the Ministry of Industry and Information Technology.
Sinoma: Sinoma International Engineering has announced that the company plans to invest US$25.2m to set up a subsidiary in Hong Kong. The Hong Kong unit will acquire a 68% stake in the India-based cement firm, LNV Technology. Sinoma International said that the acquisition will increase its competitiveness in India's cement engineering market.
Separately, Sinoma estimated that the company's net profit for 2012 will decrease by 50% year-on-year in 2012, compared with a profit of US$247m in 2011.
Company news: Shanghai-listed cement and clinker producer, Xishui Strong Year Co Ltd Inner Mongolia, has estimated that the company's net profit will surge by 590% on-year in 2012, compared with a profit of US$1.51m in 2011.
Fujian Cement Inc expects to earn US$4.17m to US$4.98m in net profit in 2012, a year-on-year decrease of 79.2% to 75.27%.
Henan Tongli Cement Co Ltd, a Shenzhen-listed cement producer, has estimated that its net profit for 2012 will be between US$23.9m and US$28.6m, a year-on-year decrease of 26.1% to 38.1%. Tongli Cement earned US$38.7m in net profit in 2011.
Siam Cement Q4 profit doubles
30 January 2013Thailand: Siam Cement has reported that it has more than doubled its quarterly net profit as Thailand rebuilt from floods and demand for construction materials and petrochemicals surged. Southeast Asia's second biggest cement maker posted a net profit of US$232m in the October 2012 to December 2012 period, a rise of 116% compared to US$107m in the same period in 2011. Revenue from sales rose by 14% to US$3.35bn.
"An increase of 116% year-on-year was largely due to the sales recovery of the construction-related businesses from floods in the fourth quarter of 2011," the company said in a statement.
Year-on-year increases in revenue and sales were more modest when compared to the previous quarter in 2012. Revenue fell by 4% compared to the July 2012 to September 2012 period and profit increased by 8%. Revenue for the company's cement sector rose by 36% to US$576m in the fourth quarter of 2012. Profit rose by 75% to US$71.1m.
In its statement Siam Cement reported that its export market sales volume dropped by 30% quarter-on-quarter to 1Mt due to seasonal factors and tight supply as a result of plant maintenance. On year-on-year basis, export volume decreased by 22% as a result of the conversion of exports volume to serve the domestic market. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 42% year-on-year due to the better domestic cement market but decreased by 12% quarter-on-quarter to US$117m due to plant maintenance and higher electricity costs.
Siam Cement is Southeast Asia's second largest cement maker with a cement production capacity of 24.2Mt/yr. It is 30% owned by the Thai Royal family's investment arm, the Crown Property Bureau. The company said future profit growth would be partly driven by construction across the developing Southeast Asian nations, where it aims to invest $6.7bn between 2013 and 2017.
Lucky out-performs peers at end of 2012
29 January 2013Pakistan: Lucky Cement Limited has outperformed its competition by recording a 42.2% rise in its half-year profit for the year 2012-13. It has declared a profit for the half-year ending on (31 December 2012) of US$43.9m.The company's gross profit increased by 32.3% during the half-year as its net sales revenue improved by 13.9% to US$179.3m.
During the period under review, the combined sales revenue of Lucky Cement increased by 13.9%. This was attributed to a 21.3% growth in domestic sales and a 3.7% growth in exports.
To enhance the quality of cement and for capturing new export markets, Lucky Cement plans to replace its existing cement grinding mills from Chinese suppliers located at the Karachi plant with vertical mills from European suppliers. This replacement will reduce the cost of production due to more energy efficient operations.
Indian producer records loss in three months to December 2012
25 January 2013India: Prism Cement has reported a loss of US$10.1m for the quarter ending 31 December 2012, due to poor demand for the building material, high power and raw material costs. The firm, which has also has interests ready- mix-concrete and tiles as well as cement, had made a US$4.3m net profit in the October-December quarter of 2011. Prism's net sales fell as expenses rose.
"Poor demand, weak government spending on infrastructure kept prices of cement under pressure in the quarter," said Prism in a presentation to investors. "Coupled with higher power,freight and raw material costs, realisations have been adversely impacted. The markets are expected to improve and stabilise during the last quarter of the financial year."
Improving picture for Oman Cement as UAE imports slacken
24 January 2013Oman: Oman Cement Co has recorded a 36.7% rise in its net profit from US$33.2m in 2011 to US$45.5m in 2012. It reported that its total revenue rose by 17% to US$154m in 2012 from US$131.7m in 2011. However, total expenditure also rose in 2012 by 9.4% to US$102.8m from US$94m in 2011.
It is expected that Oman will see good demand for cement in 2013 due to government spending on infrastructure projects and increased construction activity. Analysts expect no increase in imports. Cement producers in the sultanate have faced tough competition over the last few years from UAE suppliers who sell cement in large quantities at lower prices in Oman.
Sameer Kattiparambil of EFG-Hermes, said, "The growth in net profit is mostly volume driven with some recovery in local cement prices. Owing to the fact that no major extra cement is being imported, prices have stabilised in the market over the last quarters."
"Since export prices have gone up, there has not been much addition to the profits of UAE exporters. Imports will continue to a limited extent but there will be no major increase. Oman Cement is working up to 96% of its capacity, so in the future, there is not much room for volume-driven growth," Kattiparambil added.
UltraTech profit down by 3%
23 January 2013India: UltraTech Cement, an Aditya Birla Group company, has reported a net profit of US$112m for the last three months of 2012, a drop of 3% compared to US$115m in the same period in 2011. The company blamed subdued demand and higher costs caused by increases in railway freight and diesel prices. Net sales for the quarter rose by 6% to US$904m from US$850m.
During the quarter, UltraTech reported that imported coal cost around US$100/t but that the benefit of this low price was partly offset by the depreciation in the Indian Rupee. New clinker plants at Chhattisgarh and Karnataka are expected to be operational by early 2013-2014 and will add 9.2Mt/yr to UltraTech's capacity. Once completed UltraTech's total capacity will reach 62Mt/yr.
In its outlook, the company said that the surplus scenario in the industry is likely to continue over the next three years. "Input costs are likely to increase in line with general inflation with margins remaining range bound,'' the company said.
Cement profit down by 24% for Shree Cement in Q2
23 January 2013India: Shree Cement has reported a fall in profit for its cement business of 24% to US$34m in the last three months of 2012 from US$45m in the same period in 2011. Total income for the company's cement business fell by 6% to US$207m from US$221m.
Since Shree Cement's previous financial year ending on 30 June 2012 lasted 15 months, figures for the six month period to 31 December 2012 were derived by aggregating the quarters ending 30 September 2011 and 31 December 2012. For the half year to 31 December 2012, Shree Cement reported a gain in income for its cement business of 19% to US$428m in 2012 from US$359m. Profits for the cement business for the half year rose by 24% to US$77m from US$62m.
Overall the Indian cement producer's financial results were bolstered by the company's power business. It reported a rise in net profit of 267% to US$40.5m in the last three months of 2012 from US$11m in the same period in 2011. Its total income increase by 20% to US$271m from US$226m.
Saudi Cement profits rise 31.4% in Q4
16 January 2013Saudi Arabia: Saudi Cement Co has reported a 31.4% rise in its fourth quarter profit due to higher local demand, the company reported in a bourse statement. The cement producer made a net profit of US$74m in the fourth quarter of 2012 compared to US$56.4m in the same period in 2011. Its operating profit rose by 36.8% to US$80.2m from US$58.7m.
Jiangxi Cement expects net profit down by up to 70% in 2012
16 January 2013China: Jiangxi Wannianqing Cement, a Shenzhen-listed producer of cement and clinker, has estimated that the company's net profit has decreased by 60-70% year-on-year in 2012 compared to a net profit of US$81.4m in 2011. The company made the announcement in a performance forecast that was released on 14 January 2012.