Displaying items by tag: volumes

US: Eagle Materials has recorded consolidated sales in its 2022 financial year of US$1.9bn, up by 15% year-on-year. The group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$657m, up by 15%. Full-year cement sales totalled US$1bn, up by 7%, with operating earnings of US$260m, up by 11%. The group’s cement volumes rose by 1% to 7.5Mt.

President and CEO Michael Haack said "As we look back on another extraordinary year, I am extremely proud of our team's ability to deliver record operating and financial results despite multiple external challenges, including transportation disruptions, supply chain constraints and, of course, continuing to navigate the Covid-19 pandemic.” He added "As we begin our new fiscal year, Eagle is well-positioned, both financially and geographically, to capitalise on the underlying demand fundamentals that are expected to support steady and sustainable construction activity growth over the near and long term. We expect that infrastructure investment should increase in the latter part of our fiscal year, as federal funding from the recently enacted Infrastructure Investment and Jobs Act begins in earnest. And, despite recent interest rate increases, housing demand remains strong across our geographies, outpacing the supply of homes. Nonresidential construction activity is also picking up."

India: JK Lakshmi Cement’s full-year consolidated sales were US$697m in its 2022 financial year, up by 14.6% year-on-year from US$608m in the 2021 financial year. The group’s net profit was US$61.5m, up by 13.4% from US$54.2m.

The producer said "Despite unabated increases in petcoke and diesel prices, which are hovering at all-time high, JK Lakshmi Cement was able to achieve healthy profitability through continuous improvements in operational efficiencies, energy costs, better product mixes and higher volumes."

Germany: HeidelbergCement’s first-quarter sales were Euro4.43bn in the first quarter of 2022, up by 12% year-on-year from Euro3.96bn in the first quarter of 2021. Its cement and clinker sales volumes remained level year-on-year at 28.4Mt. Sales grew in all regions except North America, where they fell by 6% to Euro798m from Euro849m. Cement and clinker sales volumes fell there by 17%, but rose in every other region.

Chair Dominik von Achten said “The first quarter of 2022 was not an easy one for HeidelbergCement. Despite the continuing uncertainties regarding the supply of energy and raw materials and the associated rise in energy prices, we were able to increase our revenue significantly.” Looking to the rest of 2022, von Achten said
”Although there is still a lot of uncertainty concerning energy and raw material availability and costs, we continue to see strong demand for our products in all regions. In particular, demand for sustainable, low-carbon products is growing rapidly.” 


Greece: Titan Cement recorded consolidated sales of Euro455m in the first quarter of 2022, up by 23% year-on-year from Euro371m in the first quarter of 2021. Due to a 29% increase in its cost of sales to Euro395m from Euro307m, the group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 17% to Euro46.4m from Euro56.1m.

The producer noted ‘significant’ cement volumes growth in its USA region, including ‘progress’ in its lower carbon footprint cement sales. Titan Cement increased its prices across its regions, and will raise prices again ‘in most markets’ by mid-2022.

Colombia: Cementos Argos recorded sales of US$642m in the first quarter of 2022, up by 11% year-on-year from first-quarter 2021. The company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 18% year-on-year to US$88.6m. Cement volumes remained level year-on-year at 3.9Mt. Cementos Argos said that higher inflationary pressures impacted costs associated with raw materials, energy, freight and maintenance, but noted its ‘very good price performance’ across all of its regions. It expects the rise in cement prices to a contribute to a reduction in inflationary cost impacts in the rest of 2022.

CEO Juan Esteban Calle said "Demand for our products and solutions remains very healthy and dynamic in all regions. We are operating at full capacity, despite a challenging environment due to global supply chain disruptions and inflation in energetics and raw material costs. In this environment, we are focused on maximising production at our integrated cement plants to meet our customers' growing needs and on executing a pricing strategy that mitigates the impact of inflation.”

Argentina: Loma Negra’s first-quarter sales were US$171m in 2022, up by 20% year-on-year from US$143m in the first quarter of 2021. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$60m, up by 14% from US$52m, while its net profit was US$41m, up by 11% from US$37m. The producer’s cement, masonry and lime sales volumes rose by 6.6% in the quarter to 1.48Mt from 1.38Mt.

Pakistan: Lucky Cement has recorded nine-month sales of US$1.17bn in its 2022 financial year, up by 38% year-on-year from US$846m in the corresponding period of 2021. The company’s consolidated cement volumes fell by 7.1% to 7.07Mt, while its unconsolidated cement volumes fell by 3.4% to 5.51Mt. Unconsolidated costs per tonne of cement rose by 49%. Explaining its net sales growth, the company noted the ‘impressive’ performance of its overseas cement business, which includes a stake in Democratic Republic of Congo-based Nyumba Ya Akiba Cement. Lucky Cement’s profit after tax for the period was US$143m, up by 20% from US$119m.

Lucky Cement says that a cement plant expansion in Khyber Pakhtunkhwa is progressing and on-schedule for completion in 2022.

Mexico: Cemex recorded consolidated sales of US$3.77bn in 2022, up by 13% year-on-year from first-quarter 2021 levels. The group recorded operating earnings before interest, taxation, depreciation and amortisation (EBITDA) growth of 3% year-on-year, to US$691m. Cemex said that sales growth in its Europe, Middle East and Africa region led the earnings increase, supported by strong underlying demand conditions with robust volume growth in Europe and the US. It recorded double-digit like-for-like price rises across its global operations. During the quarter, group CO₂ emissions fell by 4% year-on-year.

Chief executive officer CEO Fernando González said “We are quite pleased with our first quarter performance despite the unprecedented global macro challenges. Against the backdrop of the worst inflation headwinds in more than 40 years, we achieved strong pricing traction across our products. Given the tight supply and demand dynamics in most of our markets, we are optimistic that we can recover input cost inflation. In addition, our diversified energy, supply chain and Climate Action strategies are paying off and helping us respond to energy cost pressures.”

Regarding the quarter’s sustainability achievements, González said “Our performance gives me great confidence that we can reach not only our 2030 climate goal but also our Net Zero ambition.”

India: ACC’s Chaibasa cement plant in Jharkhand has received its first instalment of fly ash for use in cement production from Vedanta Aluminium subsidiary Vedanta Jharsuguda. Global Cement News previously reported that Vedanta Aluminium had been seeking a cement industry fly ash and bauxite residue buyer for a long-term collaborative partnership in July 2021.

In the 2022 financial year, Vedanta Aluminium supplied 190,000t of fly ash to Indian cement producers.

Brazil: Votorantim Cimentos recorded a 37% year-on-year rise in its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) to US$1.10bn in 2021. Its sales rose by 33% to US$4.71bn, while its profit more than tripled to US$2.1bn. The group’s sales grew in all of its regions. Its cement volumes totalled 37.2Mt, up by 15% from 2020 levels. Its capital expenditure (CAPEX) investments grew by 30% year-on-year to US$317m. It commissioned a new production line at its Pecém grinding plant in Brazil and continued to work on an upgrade to Cementos Artigas’ Sayago grinding plant in Uruguay, scheduled for completion in 2022. It also completed its acquisition of Spain-based Cementos Balboa.

Cement operations, logistics and adjacent businesses director Osvaldo Ayres Filho, who was serving as group CFO during 2021, said “We had a record financial performance in 2021, despite the challenging environment due to the ongoing effects of the pandemic and global inflationary pressure.” He added that the producer also made ‘significant strategic moves.’