Displaying items by tag: Results

India: Adani Group has reported record earnings for the 2025 financial year (FY2025), which ended on 31 March 2025. It finished the 12 month period with consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of US$10.5bn across all of its operations. This represented a 8% rise year-on-year, and was mainly driven by continued expansion in the conglomerate’s infrastructure sectors.

Cement sales from its subsidiaries Ambuja Cement and ACC rose to more than 100Mt following expansions at several plants. It has plans to invest US$100bn across all of the sectors it is involved in, including ports, mining, cement, steel, power and more, by 2031.

“India’s consumption engine remains strong,” said Karan Adani, CEO of Adani Ports & SEZ and chair of ACC. “As manufacturing grows, trade volumes will surge.”

Pakistan: The cement sector experienced a ‘substantial’ increase in earnings during the third quarter of fiscal year 2025 (from 1 January 2025 to 30 April 2025), according to a recent analysis of eight key producers. Collective earnings grew by a factor of 2.3 compared to the same period of the 2024 fiscal year (FY2024), primarily driven by an expansion in profit margins and dividend income from subsidiaries.

This came despite a comparatively modest 2% year-on-year increase in local cement dispatches, with the increased margin largely attributed to lower coal prices, alongside enhanced cost efficiencies and higher prices.

Looking forward, expectations are high for further margin gain. Rising cement prices, particularly in the north, are anticipated to support this trend. Additionally, continued low international coal prices are likely to benefit companies operating in the south.

US: Eagle Materials recorded net earnings of US$463m of in the 2025 fiscal year (FY2025), which ended on 31 March 2025. This represented a 3% year-on-year fall. The company achieved a record revenue of US$2.3bn, marginally higher than the amount seen in FY2024.

Eagle Materials’ revenues from its Heavy Materials segment, which includes cement, concrete and aggregates, fell by 2% year-on-year to US$1.4bn. Net earnings from this sector were US$320m, 6% lower year-on-year. Cement volumes were also down by 5% to 6.9Mt.

Commenting on the annual results, Michael Haack, President and CEO, said “We are pleased to report another year of strong financial, strategic and operational performance at Eagle. In FY2025, we generated record revenues of US$2.3bn and a gross profit margin of 30%, continued to advance our long-term growth and value-creation strategies and achieved important milestones in employee health and safety.”

Haack added that results in the Heavy Material sector were ‘dented’ by adverse weather in January and February 2025. Higher production costs also dragged on results as the company brought forward an annual maintenance outage at one facility and experienced weather-related interruptions at other facilities.

India: Shree Cement recorded sales of US$2.38bn in the 2025 financial year, down by 5.5% year-on-year. Operating expenses increased by 2.9% to US$2.17bn, resulting in earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$528m, down by 12% year-on-year. Net profit dropped by 50% to US$141m.

Shree Cement said that the fourth quarter of the 2025 financial year brought cement sales of 9.84Mt, up by 3.3% year-on-year from 9.53Mt in the fourth quarter of the 2024 financial year. Premium products contributed 16% of sales.

Italy: Buzzi recorded sales of €972m in the first quarter of 2025, up by 9% year-on-year, driven by acquisitions and ‘favourable’ exchange rates. Sales remained level year-on-year in Italy, but dipped by 3.3% in the US. During the quarter, Buzzi sold 6.38Mt of cement and 2.18Mm³ of ready-mix concrete, up by 23% and 4% respectively. The producer noted ‘solid’ shipments in Eastern Europe and signs of recovery in Central Europe.

Buzzi confirmed its 2025 guidance for operating results in line with 2024.

Thailand: Siam City Cement recorded sales of US$418m in the first quarter of 2025, up by 36% year-on-year. MarketScreener News has reported that group net profit fell by 12%, to US$30.7m.

Tunisia: Les Ciments de Bizerte recorded a 69% year-on-year fall in sales to US$9.2m in 2024, down from US$30.3m in 2023, amid a complete halt to clinker production.

The company published its financial statements for the year ending 31 December 2024, revealing production costs of US$7.6m and a record high net loss of US$14.9m, up from a US$11.3m deficit in 2023. It purchased 114,128t of clinker to attempt to supply the market, but failed to meet demand due to the production halt.

Brazil: Votorantim Cimentos recorded sales of 7.7Mt of cement in the first quarter of 2025, up by 2% year-on-year. Revenues rose by 1% year-on-year in local currency terms, to US$998m. The producer partly attributed the growth to its on-going geographical diversification. Nonetheless, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 14% year-on-year to US$107m, resulting in a net loss of US$58m. Votorantim Cimentos invested US$97.6m in capital expenditure during the quarter, including commencing kiln upgrades at its Alconera and Málaga plants in Spain, up by 35% year-on-year. It expects to commission its newly expanded Salto de Pirapora and Edealina cement plants in Brazil later in 2025 and in early 2026 respectively.

CEO Osvaldo Ayres said “Our financial strength and discipline in capital allocation have enabled us to navigate this volatile global environment. At the same time, we continued to maintain our focus on the long term through our programme of investments in capacity expansion, structural competitiveness and acceleration of new businesses.”

Italy: Cementir reported revenues of €368m in the first quarter of 2025, down slightly from 2024. The company said this was despite the reduction in sales volumes in many regions and negative currency exchange effects in Egypt and Türkiye. Earnings before interest, taxation, depreciation and amortisation (EBITDA) also fell slightly to €66.4m from €66.5m. Profit before tax dropped by 48% year-on-year to €30.3m from €56.7m previously.

Cement and clinker sales declined by 6% to 2.24Mt, due to the Turkish government’s ban on exports to Israel active from the second quarter of 2024, as well as the general decline in the ‘main geographical areas’, with the exception of Malaysia, Egypt and China. Ready-mixed concrete volumes rose by 2%, while aggregates remained stable.

Chair and CEO Francesco Caltagirone said “Notwithstanding a modest reduction in cement sales volumes, group revenues for the first quarter of 2025 are in line with the same period of last year, as is EBITDA, which at constant exchange rates would instead have grown by 7.5% over 2024. Despite the current phase of significant geopolitical and trade uncertainty, we are keeping our industrial targets unchanged and continue on our decarbonisation path.”

Greece: Titan Cement reported a ‘positive start to the year’, having recorded sales of €638m in the first quarter of 2025, up by 2% year-on-year. Aggregates sales rose by 18% and ready-mix concrete saw an increase of 6%, while cement volumes remained flat year-on-year. The company said that the impact of severe weather conditions in both the US and Southeast Europe weighed on sales volumes in these regions, however, the strong performance in Greece, as well as the significant rise in cement exports from Egypt, mitigated those effects.

It reported an earnings before interest, taxation, depreciation and amortisation (EBITDA) of €123m, an increase of 12% year-on-year. Profit before tax increased by 3% to €66.6m. Titan is ‘cautiously optimistic’ for the remainder of the year, despite global uncertainties.