Displaying items by tag: Results

Australia: In the third quarter of the 2022 financial year, James Hardie’s net sales rose by 22% year-on-year to US$900m. Its Asia Pacific fibre cement business recorded sales of US$140m, up by 20% and adjusted earnings before interest, taxation, depreciation and amortisation (EBIT) of US$38.2m, up by 17%. James Hardie’s North America fibre cement business’ sales also rose, by 24% to US$645m, while its adjusted EBIT rose by 18% to US$183m. Following the results, James Hardie raised its 2022 net income guidance to US$620 – 630m from US$605 – 625m.

Interim chief executive officer Harold Wiens said, "I am pleased to report the James Hardie team has continued to execute well on our stated global strategy.” He attributed the successes to “Firstly, enabling our customers to make more money by selling more James Hardie products and, secondly, marketing directly to the homeowners to create demand of our high value products through our customers."

Wiens also announced the launch of the company’s new Architectural cement boards collection.

India: JK Cement recorded a third-quarter consolidated net profit of US$18.8m in the third quarter of its 2022 financial year. The figure represents a 35% year-on-year decline from US$29.1m in the third quarter of the 2021 financial year.

Bangladesh: LafargeHolcim Bangladesh’s full-year sales were US$243m in 2021, up by 27% year-on-year. Its net profit was US$45.8m in 2021, up by 64%, according to the New Nation newspaper.

During the year, LafargeHolcim Bangladesh launched its new Water Protect and Shokti cements and continued to accelerate alternative fuel (AF) co-processing across its cement plant network.

US: Eagle Materials’ consolidated sales rose by 13% year-on-year to US$1.45bn in the third quarter of the 2022 financial year from US$1.28bn in the corresponding quarter of the 2021 financial year. Its sales of cement rose by 12% year-on-year to US$261m, while its earnings from the segment were US$79.8m, up by 13%. Cement volumes totalled 2Mt, up by 7% from third-quarter 2021 financial year levels.

Chief executive officer and president Michael Haack said that the results reflected both continued strength in US construction activity and excellent execution by Eagle Materials as Covid-19-related supply chain challenges continued. He said “We continue to see positive demand trends across our geographic footprint, driven by increased residential construction activity and expanded infrastructure investment. These trends should support growing construction activity and contribute to attractive pricing across our heavy and light materials businesses. We enter the last quarter of our fiscal year in a position of strength, with an excellent balance sheet enabling us to continue to execute on our core strategies.”

Haack added “I’m also proud to share that, during the first nine months of our fiscal year, we achieved the best safety performance in our history, demonstrating our deep commitment to our people and their wellbeing. During the quarter, we also continued to make strides towards our environmental stewardship goals. We are now producing and selling our eco-friendly Portland limestone cement (PLC) from four Eagle cement facilities.”

India: JK Lakshmi Cement recorded revenues of US$159m in the third quarter of its 2022 financial year, consistent with third-quarter levels in the 2021 financial year. Despite this, the company’s net profit declined by 42% year-on-year to US$7.91m from US$13.7m. Its operating costs grew by 4.6% to US$140m during the quarter.

India: Shree Cement recorded consolidated revenues of US$430m in the third quarter of its 2022 financial year, down by 2.8% year-on-year and up by 0.4% quarter-on-quarter. The group’s cement sales totalled 6.4Mt, down by 10% year-on-year and up by 2.1% quarter-on-quarter. It reported a 26% year-on-year fall in earnings before interest, taxation, depreciation and amortisation (EBITDA) to US$107m.

India: CK Birla Group subsidiary Orient Cement’s third-quarter sales rose by 2.1% year-on-year in the 2022 financial year to US$82.6m from US$80.9m in the corresponding quarter of the 2021 financial year. The company saw a 19% year-on-year decline in its net profit to US$5.84m during the quarter.

Germany: HeidelbergCement recorded sales of Euro18.7bn in 2021, up by 6.3% year-on-year from Euro17.6bn in 2020. The group says that the growth exceeds its anticipated ‘slight increase’ in sales. Sales in the fourth quarter of 2021 were Euro4.7bn, up by 4.4% from Euro4.5bn in the fourth quarter of 2020. The company announced a preliminary result from current operations of Euro2.61bn, up by 11% from Euro2.36bn in 2021.

Pakistan: Lucky Cement increased its standalone first-half sales in the 2022 financial year by 20% year-on-year to US$2.87bn from US$2.39bn in the first half of the 2021 financial year. This was despite a 5.9% year-on-year decline in cement volumes to 4.7Mt. Domestic cement sales increased by 0.8% to 3.66Mt from 3.63Mt, while exports fell by 20% to 1.07Mt from 1.34Mt.

The Business Recorder newspaper has reported that the company increased its consolidated net profit by 27% year-on-year. Its consolidated profit after tax was US$972m in the first half of the 2022 financial year.

India: Dalmia Cement (Bharat) has reported a 59.2% decline in its consolidated net profit to US$9.7m for the three months to 31 December 2021. The company had posted a net profit of US$23.6m during the corresponding quarter of 2020. The company reported that its revenue for the quarter was almost unchanged year-on-year at US$363m. The company’s cement sales volumes fell to 5.7Mt during the quarter compared to 5.8Mt in a year earlier.

Dalmia Cement (Bharat) Managing Director and chief executive officer (CEO) Mahendra Singhi said, “Margins during the quarter were impacted due to a significant inflation in the energy prices and market weakness in core regions of our operation. However, beginning in mid-December, things have started to look good. To mitigate the impact of external exigencies, we are working to further strengthen our operational efficiencies and explore avenues for cost rationalisation.”