Displaying items by tag: Results

China: China Resources Cement (CRC) turnover fell by 27% year-on-year to US$4.10bn in 2022 from US$5.60bn in 2021. Its profit dropped by 75% to US$247m from US$989m. Its cement and concrete sales volumes decreased by 11% to 72.1Mt and 27% to 10.8Mm³ respectively. During the reporting year the group says it optimised its presence in South China by acquiring majority stakes in Hunan Liangtian Cement and Zhaoqing Jingang Cement, buying a minority stake in Fengqing County Xiqian Cement and by selling a majority stake in Shanxi China Resources Fulong Cement.

China: Huaxin Cement’s revenue fell by 6% year-on-year to US$4.43bn in 2022 from US$4.72bn in 2021. Its net profit decreased by 50% to US$393m from US$780m. Its sales volumes of cement and clinker declined by 20% to 75.3Mt and concrete sales volumes nearly doubled to 16.4Mm³. Despite flat cement demand the company expects a general domestic economic improvement, real estate market reforms and a focus on infrastructure to improve its fortunes in 2023.

During the reporting period the subsidiary of Switzerland-based Holcim started operating a 3000t/day production line at Nepal Narayani in early 2022 and commenced the second stage of a project to build a 4000t/day clinker line at Maweni in Tanzania in July 2022. Preparation work for a new clinker line project in Malawi also began. The company added that it has completed the investment and verification for ten additional projects in Africa, the Middle East and elsewhere in preparation of future business expansion. Overall, 13% of the group’s operating revenue derived from business outside of China in 2022 compared to 8% in 2021.

China: China Tianrui Group Cement reported a year-on-year decline in its sales during 2022. The group recorded sales of US$1.61bn, down by 15% from US$1.85bn. Its net profit was US$65.1m, down by 63% from US$174m.

China: Anhui Conch Cement plans to invest US$2.81bn in capital expenditure (CAPEX) throughout 2023. The investments will go towards building new capacity, upgrading to new technologies and increasing plants' energy efficiency. The Morning Star newspaper has reported that the producer currently faces high energy costs, against a backdrop of reduced cement demand.

Anhui Conch Cement recorded sales of US$19.2bn in 2022, down by 21% year-on-year from US$24.4n in 2021.

China: West China Cement recorded US$1.23bn in sales in 2022, up by 6% year-on-year from US$1.16bn in 2021. The producer's profit dropped by 23% to US$176m from US$230m.

Looking to the 2023 full year, West China Cement said that it expects demand in Guizhou and Xinjiang Provinces to 'remain subdued.' It noted upcoming infrastructure projects in Shaanxi Province as a source of substantial demand, but overall does not expect significant demand growth there. Meanwhile in Mozambique, the group expects its performance to remain unchanged.

Mexico: Cemex has reviewed its global sustainability and financial performance during 2022 in its Integrated Report 2022. During the year, the group reduced its specific CO₂ emissions by 9% from 2020 levels and by 30% from 1990 levels. It achieved a target of US$1bn-worth of investment in strategic projects over a period begun in 2020. Projects included the execution of water optimisation plans at 20% of Cemex sites in high-water stress areas. Cemex co-processed 27Mt of waste as alternative fuel (AF) in its global cement production - 67 times greater than its own non-recyclable waste footprint - and achieved an AF substitution rate of 35%. Meanwhile, the group also reduced its cement's clinker factor to 74%. Its Vertua reduced-CO₂ concrete range accounted for 33% of its concrete sales. During the year, Cemex launched the world's first net zero, fully electric heavy concrete mixer truck.

In 2022, Cemex recorded sales of US$15.6bn, down by 12% year-on-year, and reduced its debt to US$408m.

Philippines: Holcim Philippines recorded sales of US$490m during 2022, down by 1% year-on-year from US$499m. Sales rose by 9% year-on-year to US$266m during the second half of the year, 53% of the full-year figure. Throughout the year, the producer increased its alternative fuel (AF) substitution rate by 20% year-on-year and processed 1Mt of waste from industrial partners and local government bodies. Digitisation initiatives and alternative raw materials substitution helped the producer to reduce its specific CO₂ emissions by 7%. The Business Mirror newspaper has reported that the year also brought 'surging' energy and fuel costs for the producer.

President and CEO Horia Adrian said "In the face of extraordinary challenges, our company and people displayed tremendous resilience that enabled us to deliver positive financial performance and contribute to building progress in the country. Alongside a strong sales rebound in the second half and expansion of our customer base, we accelerated the decarbonisation of our operations."

Greece: Titan Cement Group’s sales rose by 33% year-on-year to Euro2.28bn in 2022, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 20% to Euro331m. The producer sold 17.2Mt of cement, up by 2% year-on-year from 16.8Mt. Its USA sales rose by 34% to Euro1.31bn, its Southeastern Europe sales rose by 33% to Euro386m, its Greece and Western Europe sales rose by 22% to Euro326m, its Eastern Mediterranean sales rose by 48% to Euro256m and its Brazil-based joint venture Apodi’s sales rose by 38% to Euro115.9m. During the year, the group commenced exports of Type IL Portland limestone cement (PLC) from its Samsun, Türkiye, cement terminal to the US.

Group chair Marcel Cobuz said “The great performance results highlight the group's ability to adapt to market conditions and to activate effective growth strategies, driving positive financial performance mainly in US and Europe, where we serve the majority of our customers and have close to 90% of our sales. They also underscore the group’s resilience, adaptability and commitment of all our great teams to transform the group commercially and technologically while digitising our customer journey and decarbonising aggressively, delivering long-term value to all our stakeholders.”

China: China National Building Material (CNBM) subsidiary Xinjiang Tianshan recorded a drop in its net profit during 2022, Reuters has reported. The producer recorded a net profit of US$655m, down by 64% year-on-year from 2021 levels.

China: Gansu Qilianshan recorded a net profit of US$110m in 2022, Reuters has reported. The figure corresponds to a drop of 20% year-on-year from US$138m in 2021.