Displaying items by tag: Sales

Vietnam: Vietnam sold 89Mt of cement and clinker in 2023, down by 6% year-on-year from 2022 levels. Việt Nam News has reported that exports fell less sharply than domestic sales. The country exported 32.6Mt of cement and clinker, down by 2% year-on-year from 2022.

The Ministry of Construction is reportedly contemplating extending a 2% reduction in the rate of value-added tax (VAT) on cement in order to stimulate sales. Additionally, it has called for a reduction in the export tax on clinker back down to 5%, following a rise to 10% in 2023.

Philippines: Holcim Philippines recorded sales of US$332m during the first nine months of 2023. This represents a 4% drop from nine-month 2022 levels. The producer reported operating earnings before interest and taxation (EBIT) of US$25.2m. Throughout the period, Holcim Philippines co-processed 800,000t of alternative fuel (AF) at its plants. Blended cement products ended September 2023 at 75% of its cement sales.

Pakistan: Cement producers increased their sales volumes by 23% year-on-year during the first quarter of the 2024 financial year, which began on 1 July 2023. They recorded despatches of 11.9Mt during the quarter, compared to 9.62Mt during the first quarter of the previous financial year. The Express Tribune newspaper has reported that exports grew by 72% year-on-year to 1.75Mt from 1.02Mt.

India: UltraTech Cement sold 26.7Mt of cement during the second quarter of the 2024 financial year (1 July – 30 September 2023). This corresponds to year-on-year growth of 16% from 23.1Mt in the second quarter of the previous financial year. Sales in India accounted for 25.7Mt (96%) of total volumes, while overseas sales accounted for 1.18Mt (4%).

UltraTech Cement has a cement capacity of 138Mt/yr across its 23 cement plants and 29 grinding units.

Zimbabwe: South Africa-based PPC has raised its stake in PPC Zimbabwe from 71% to 90%. In an operating update, PPC told investors that PPC Zimbabwe increased its sales by 19% year-on-year in the five months to 31 August 2023. Meanwhile, the group’s South African business raised its sales by 58% year-on-year over the same period. PPC attributed the growth to cost reductions and price increases across both markets, as well as ‘exceptionally strong’ growth in its cement volumes in Zimbabwe. Overall, cement volumes rose by 3% year-on-year.

PPC was previously reported to be considering selling its entire PPC Zimbabwe stake for US$200m in February 2023.

France: Hoffmann Green Cement Technologies reported revenues of Euro1.68m during the first half of 2023, more than triple those recorded in the first half of 2022 (Euro544,000). The producer’s sales volumes of its clinkerless cement also more than tripled, to 7340t. It says it is on course to achieve its full-year 2023 target of 24,000t. The commissioning of its H2 plant in France raised the company’s installed production capacity by 250,000t.

Co-founders Julien Blanchard and David Hoffmann said "Thanks to the daily work of all our teams, we are accelerating the marketing of our innovative clinker-free cement in a construction market with demand for truly carbon-free solutions. Considering the seasonality of our sales, we intend to intensify the transformation of our order book into sales during the second half of 2023.”

Nigeria: Cross-industry body Manufacturers Association of Nigeria (MAN) recorded a 30% year-on-year drop in all-Nigeria cement sales during the first half of 2023. MAN attributed the decline to the government’s replacement of the naira with a new central bank digital currency. The Punch newspaper has reported that this ‘wiped out’ some cash-based businesses, including cement retailers. Point of sale charges also increased costs along the supply chain. The association said that the impacts of the policy led manufacturers in some sectors to halt their operations.

Brazil: Data from SNIC, the Brazilian Cement Association, shows that cement sales increased by 1% year-on-year in August 2023 to reach 6Mt. From January to August 2023 however, Brazilian cement sales were once again lower year-on-year, falling by 1% to 41.7Mt.

Across Brazil, construction material sales have been impacted by lower disposable income due to inflation, high interest rates and high household debt. However, the New Growth Acceleration Program, a government initiative launched in August 2023, could be a boon for cement sector. It foresees spending of US$280bn between 2023 and 2026. For highways alone, 269 restoration and construction projects are planned and duplication of roads across the country, an investment that could open up opportunities for the use of more economical road solutions, such as rigid concrete pavement.

“The implementation of infrastructure projects with an emphasis on logistics, sanitation and housing could reverse the negative performance of the cement industry recorded until August 2023. Our expectation is that the positive seasonality in sales in the sector will be confirmed in the second half of the year,” said Paulo Camillo Penna, President of SNIC.

India: Adani Group recorded earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$2.85bn in the first quarter of the 2024 financial year, up by 42% year-on-year. The conglomerate’s cement business contributed an EBITDA of US$235m, up by 54% year-on-year. This represented 8.2% of the quarterly total. The group sold 15.4Mt of cement.

Financial Express Online News has reported that Adani Group said “The robust portfolio performance was primarily driven by the renewable power business under Adani Green, the infrastructure businesses under Adani Enterprises and the cement businesses under Adani Cement.”

China: Jiangxi Wannianqing Cement recorded a profit of US$36.6m during the first half of 2023, Reuters has reported. This corresponds to a year-on-year decline of 46%.