Displaying items by tag: growth

Kyrgyzstan: Cement companies produced 2.67Mt of cement nationally in 2022, up by 7.1% year-on-year from 2021 levels, local press has reported. The Eurasian Economic Commission noted that only Armenia outstripped Kyrgyz cement production growth regionally, with an 18% rise to 1.07Mt.

Pakistan: Bestway Cement has published its first-half results for the 2023 Pakistan financial year, showing a 20% year-on-year rise in its gross turnover to US$222m from US$185m. Its cost of sales rose by 25% to US$110m, but failed to offset sales growth, resulting in 23% profit growth to US$44.5m from US$35.3m.

Pakistan: DG Khan Cement recorded sales of US$114m during the first half of the 2023 Pakistani financial year. The figure corresponds to growth of 8.5% year-on-year from US$105m in the first half of the 2022 financial year. Its cost of sales was US$97.4m, up by 82% from US$53.4m. Its profit was US$3.56m, up by 72% from US$2.07m.

Pakistan: Pioneer Cement's sales were US$95.7m in the first half of its 2023 financial year. This corresponds to a 19% year-on-year rise from US$80.2m in the first half of the 2022 financial year. The producer overcame 20% growth in its cost of sales to US$53.2m from US$44.2m, to record a profit after tax of US$6.72m, up by 54% from US$4.36m.

India: Sagar Cements says that it will pay US$111m to acquire Andhra Cements outright. The Hindu BusinessLine News has reported that the deal will more than double the producer's capacity to 8.25Mt/yr. By 2025, Sagar Cements expects to increase the newly acquired subsidiary's clinker capacity by 1.2Mt/yr, and its grinding capacity by 600,000t/yr. The group plans to invest US$56.8m in capital expenditure before 2025 in order to realise its plans.

India: UltraTech Cement has commissioned a new 1.5Mt/yr grinding unit at its Jharsuguda grinding plant in Odisha. The unit more than doubles the plant's capacity to 2.5Mt/yr. The Hindu BusinessLine News has reported that UltraTech Cement now has a production capacity of 4.1Mt/yr in Odisha. The Eastern Indian state thus hosts 3.3% of the producer's total capacity of 123Mt/yr.

US: US cement companies produced 95Mt of cement in 2022, up by 2.2% year-on-year from 93Mt in 2021, according to the United States Geological Survey (USGS). The country exported 900,000t of cement and clinker, down by 4.3% from 940,000t. The USGS recorded a 9.1% leap in apparent national consumption, to 120Mt from 110Mt. Cement imports helped to close the gap, rising by 20% year-on-year to 24Mt from 19.9Mt.

Among the US's main trade partners for cement imports, cement production fluctuated in 2022. Turkish cement production rose by 3.7% year-on-year to 85Mt, Mexican cement production fell by 3.8% year-on-year to 50Mt and Vietnamese cement production rose by 9.1% year-on-year to 120Mt. Globally, the USGS estimated a year-on-year cement production decline of 6.8% to 4.1Bnt.

India: Birla Corporation recorded nine-month consolidated sales of US$751m so far in the 2023 financial year, up by 20% year-on-year from US$628m in the first nine months of the 2022 financial year. The company made a net loss of US$5.37m however, compared to a net profit of US$34.7m during the first nine months of the 2022 financial year.

Birla Corporation did not publish a figure for fuel and electricity costs, however its raw materials costs rose by 25% year-on-year to US$111m, while its 'other expenses' more than doubled to US$565m.

India: Market research company CareEdge Research has forecast an 8 - 9% year-on-year rise in all-Indian cement demand to 380 - 390Mt throughout the 2023 financial year, which will end on 31 March 2023. CareEdge Research recorded an 11% year-on-year rise in domestic cement demand during the first eight months of the 2023 financial year, up to 30 November 2022. It attributed the growth to increased urban housing development and infrastructure activity. The market research company expects these factors to continue to drive demand growth into the final quarter of the financial year.

India produced 356Mt of cement in the 2022 financial year, up by 20% year-on-year from 296Mt in the 2021 financial year.

East African: Kenya-based East African Portland Cement Company (EAPCC) has announced plans for an international expansion into the Democratic Republic of Congo. The planned expansion will accompany continued capital expenditure investment in the company’s existing Athi River cement plant in Kenya over the five-year period up to 2028.

CEO Oliver Kirubai said that EAPCC expects ultimately to ‘outgrow the regional cement market.’