Displaying items by tag: volumes
US: Eagle Materials recorded sales of US$1.78bn in the first nine months of the 2024 financial year. This corresponds to a rise of 6.2% year-on-year from the corresponding period of the 2023 financial year. The producer’s heavy materials sales rose by 18% to US$889m, and its cement sales volumes rose by 2% to 6Mt. As a result, Eagle Materials raised its net earnings by 11% to US$401m.
Steppe Cement experiences declining sales in 2023
15 January 2024Kazakhstan: Steppe Cement reported US$82.5m in sales in 2023, down by 7.2% year-on-year from US$89m in 2022. The company attributed this to a decline in sales, to 1.6Mt in 2023. It said that it commanded a 14% local market share for the year.
Vicem’s cement and clinker volumes drop by 18% in 2023
10 January 2024Vietnam: State-owned Vicem sold 22.6Mt of cement and clinker in 2023, down by 18% year-on-year from 2022 levels. Việt Nam News has reported that the producer exported 2.85Mt of cement and clinker, 85% of its target volumes for the year. For 2024, Vicem aims to achieve full-year sales of 24.3Mt, up by 7.7%.
Vietnam’s cement and clinker sales drop by 6% in 2023
02 January 2024Vietnam: 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.
Votorantim Cimentos records growth in sales in third quarter of 2023
14 November 2023Brazil: Votorantim Cimentos reported US$1.51bn in sales during the third quarter of 2023. This represents a decline of 3% year-on-year. It raised its total volume of cement sales by 1% year-on-year to 10.3Mt. Meanwhile, the group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 9% to US$1.9bn.
CEO Osvaldo Ayres said “The positive results in both the third quarter and the first nine months of 2023 reinforce our operational leverage and our performance within our strategic mandate, with discipline and resilience. Despite the uncertain global macroeconomic scenario and market challenges, our geographic and product diversification improves the company, to face challenges and be ready to capture good opportunities.”
Germany: Heidelberg Materials raised its sales by 1.8% year-on-year to Euro16.1bn in the first nine months of 2023. Regionally, sales rose by 7.5% to Euro3.69bn in North America, by 2.6% to Euro2.76bn in Asia-Pacific by 3.5% to Euro4.94bn in Western and Southern Europe, by 2.5% to Euro2.74bn in Northern and Eastern Europe and Central Asia, but fell by 10% in Africa-Eastern Mediterranean Basin to Euro1.41bn. Cement volumes fell across all of the group’s business lines, as ‘solid developments’ in infrastructure and industrial commercial construction failed to offset locally ‘massive’ declines in residential construction. Heidelberg Materials raised its 2023 outlook based on anticipated continued moderate revenues growth to a full-year result of Euro2.85 – 3bn, from Euro2.7 – 2.9bn previously.
Chair Dominik von Achten said “We have closed the first three quarters of 2023 with a strong result, despite declining demand for our building materials. On a like-for-like basis, all group areas have contributed to this result. I would like to thank the entire Heidelberg Materials team for their outstanding performance in what continues to be a very challenging business environment.” Von Achten continued “In the third quarter, we were able to further strengthen our pioneering role in the decarbonisation of the building materials sector. Our activities have gained further momentum with the installation of the core equipment of the carbon capture, utilisation and storage (CCUS) plant in Brevik, Norway, and the start of construction of a CCUS pilot plant in Bulgaria. This brings us much closer to our goal of offering our customers climate-friendly products on a large scale.”
Ambuja Cements’ nine-month sales grow so far in 2023
02 November 2023India: Ambuja Cements’ sales were US$477m over the nine-month period up to 30 September 2023. This represents an 8% year-on-year rise from nine-month 2022 levels. The producer sold 7.6Mt of cement, up by 7% from 7.1Mt. It said that its electricity and fuel costs dropped by 32% year-on-year, which helped to grow its profit after tax by a factor of five to US$77.4m.
Vietnam’s 10-month cement and clinker exports rise in 2023
31 October 2023Vietnam: The government recorded growth of 0.3% year-on-year in exports of cement and clinker from Vietnam during the first 10 months of 2023. They ended the period at a cumulative 26.2Mt, compared to 25.9Mt a year earlier. Việt Nam News has reported that the value of exports fell by 2.4%, to US$1.13bn.
Cemex raises nine-month sales and earnings so far in 2023
26 October 2023Mexico: Cemex’s sales were US$13.2bn during the first nine months of 2023, up by 13% year-on-year from US$11.7bn in the first nine months of 2022. The group’s operating earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$2.6bn, up by 27% from US$2.1bn. This came in spite of a 7% year-on-year decline in its cement volumes, to 39.1Mt from 41.8Mt. Volumes rose by 3% in Mexico, but fell by 13% in the US, 4% in South, Central America and the Caribbean and 10% in Europe, Middle East, Asia and Africa.
Cemex chief executive officer Fernando González said “2023 is proving to be an exceptional year for our company, and I am especially encouraged by our recovery of EBITDA margins to 2021 levels, a key strategic priority. The success of our pricing strategy, contribution of growth investments and our fast-growing Urbanisation Solutions business, as well as decelerating cost inflation, are contributing to profitability in a very meaningful way.” He continued “We are making significant progress on our decarbonization roadmap, reducing Scope 1 and Scope 2 carbon emissions by 12% and 11%, respectively, since 2020. Prior to the introduction of our Future in Action programme in 2020, a reduction of this magnitude would have taken almost 15 years.”
India: Dalmia Bharat sold 13.2Mt of cement during the first half of the 2024 financial year (1 April 2023 – 30 September 2023), up by 9.6% year-on-year 12Mt in the first half of the 2023 financial year. This contributed towards a 24% year-on-year rise in the producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) to US$144m from US$116m in the previous first half. During the first half of the current financial year, Dalmia Bharat commenced commercial production from its new 500,000t/yr Ariyalur clinker plant and 2Mt/yr Sattur grinding plant, both in Tamil Nadu. The former commissioning raised the company’s clinker capacity to 22.2Mt/yr.
Group managing director and CEO Puneet Dalmia said “We see a multi-year-strong cement demand trend continuing, as India is undergoing a large-scale metamorphosis. We were one of the first ones to foresee this upcycle and started building our capacity ahead of time. In the past 3.5 years, we have added 17.2Mt/yr-worth of cement capacity, which is 65% growth over 2020 financial year capacity. In line with our vision to reach 110 – 130Mt/yr by 2031, we are continuing to make consistent strides in that direction and capitalise upon the huge opportunity ahead of us.”
The company’s cement managing director and CEO, Mahendra Singhi, noted the effects of a ‘reduction in fuel prices, increased usage of renewable power and improvement in key performance indicators.’ He added “We continue to demonstrate our commitment towards the environment, as we have further brought down our CO2 footprint to 456kg/t of cement, which is one of the lowest in the global cement sector.”