Displaying items by tag: Sales

Argentina: Loma Negra’s total comprehensive income in 2019 was US$61.8m, up by 3.7% year-on-year from US$59.6m in 2018. Its revenue fell by 15% to US$147m from US$173m in 2018. The company said that this was due to decreased demand in Argentina, where its cement, masonry and lime sales declined by 11% year-on-year to 1.28Mt of products from 1.44Mt in 2018, with bulk sales falling further than bagged. Profit growth was hampered by non-recurrent costs from cost-control and streamlining initiatives.

Loma Negra CEO Sergio Faifman said, “Argentina's business suffered more in 2019 than previously expected, however we were able to thrive and present results that we can feel proud of.” He lobbied the new government to adopt policies to ‘re-establish financial stability and economic growth.’

An expansion to Loma Negra’s 1.7Mt/yr integrated L’Amali plant is set to bring the plant’s capacity to 2.4Mt/yr when commissioned in mid-2020.

Vietnam: Cement producers in Vietnam are reported to be facing a ‘double whammy’ due to falling domestic demand from a slowdown in the domestic property and infrastructure sectors, as well as a marked decline in exports due to the ongoing Novel Coronavirus (COVID-19) epidemic.

However, Nguyen Quang Cung, chairman of the Vietnam Cement Association (VNCA) said that demand is expected to remain high throughout 2020 as a whole. The Ministry of Construction (MoC) currently stands by its autumn 2019 forecast that Vietnam will produce 103Mt of cement during 2020. It expects domestic consumption to be around 70Mt, with exports of 33Mt.

To help firms overcome the current difficulties, Cung proposed that the government, the State Bank of Vietnam and other parties offer support to manufacturers in the form of tax cuts and lower interest rates.

Global Cement is sceptical that Vietnam’s cement producers will meet the MoC’s 2020 forecast. In January and February 2020 the country’s domestic sales were 40% lower year-on-year compared to 2019, while exports fell by 49% year-on-year.

Bangladesh: LafargeHolcim Bangladesh has posted a 56% year-on-year increase in profit to US$20.5m in 2019 from US$13.1m in 2018. Sales rose by 100% to US$210m from US$105m in 2018. New Nation Independent Daily News has reported that LafargeHolcim Bangladesh CEO Rajesh Surana said, "2019 was a challenging year for the cement industry. The impact of increased raw material costs and taxes was significant. Despite this, LafargeHolcim demonstrated a strong performance trend. Our focus on improving operational efficiencies, driving commercial innovation and cost optimisation continues to be effective. We are determined to build on this thrust and further increase value to our stakeholders."

Bosnia & Herzegovina: Germany-based HeidelbergCement subsidiary Tvornica Cementa Kakanj (TCK) recorded a profit of Euro7.35m in 2019, down by 15% year-on-year from Euro8.63m in 2018. Sales rose by 1.8% over the period, to Euro37.7m from Euro37.0m. The company explained the profit drop in terms of increased operating costs, which rose by 3.8% to Euro29.4m from Euro22.7m in 2018.

Sri Lanka: Norochcholai Coal Power Plant (NCPP) is courting buyers for its fly ash, of which it says it produces US$5.5m-worth annually. In 2019 NCPP sold US$3.3m to Sri Lankan cement producers. Daily News Sri Lanka has reported that the company has undertaken measures to increase the value of the fly ash to cement producers, in order to obtain a higher price. NCPP manager Indrasiri Gallage said, "By selling fly ash to cement producers the plant has also helped to free the country from reliance on clinker imports."

An expansion, including the installation of a new 300MW coal-fired power plant, will eventually bring the NCPP’s capacity to 1200MW. The plant is currently working to increase the value of its bottom ash for paving block production.

Egypt: Germany-based HeidelbergCement subsidiary Suez Cement’s losses fell by 11% year-on-year to US$75.0m in 2019 from US$84.1m in 2018. Mubasher News has reported that sales also fell, by 13% to US$41m from US$0.47bn.

Suez Cement is seeking buyers for its 51% stake in Kuwait-based Hilal Cement.

Germany: Hazemag has announced that Hazemag Systems will now market the entire product portfolio of Hazemag raw materials processing and mining equipment division Hazemag & EPR. The group says its ‘sales and process know-how’ will now be bundled at a single Düsseldorf location. Hazemag & EPR employs 400 people in serving industries including cement in 40 countries with plants and equipment for raw materials processing.

Saudi Arabia: Saudi Cement has posted a profit of US$120m in 2019, up by 13% year-on-year from US$108m in 2018. Mubasher has reported that increased sales offset higher costs, with notable growth in the fourth quarter of 2019 of 15% year-on-year, to US$38.3m from US$33.3m in the last three months of 2018.

Philippines: Holcim Philippines has recorded a profit of US$70.9m in 2019, up by 41% from US$50.3m in 2018. This was in spite of a 5.9% year-on-year sales fall to US$660m from US$701m in 2018. The Philippines Star newspaper has reported that a more favourable product mix and the steady contribution of its aggregates unit helped Holcim Philippines to offset the effects of slowing construction activity throughout the year. Holcim Philippines president and CEO John Stull said that the company is ‘well-positioned to deliver sustainable and healthy growth to shareholders and continue support to the country’s development.’

In 2019 Holcim Philippines brought its total production capacity to 10Mt/yr with the completion of upgrades at its integrated Bulacan, Davao and La Union plants. In March 2019 it launched Solido, a blended cement suited to use in road and infrastructure construction.

Ireland: CRH recorded sales of Euro28.3bn in 2019, up by 6% year-on-year from Euro26.7bn in 2018. Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 25% year-on-year to Euro4.20bn from Euro3.36bn. The company said that the results were supported by a positive demand backdrop in the Americas and in key regions in Europe. It also set out a new CO₂ emissions roadmap with target of 520kg/t of cement by 2030, a 33% reduction compared to 1990 levels.