Vietnam: Taiwan-based Chinfon Cement has received clearance to expand its installed cement capacity to 4.2Mt/yr, according to the Viet Nam News newspaper. Chinfon Cement operates an integrated cement plant in Trang Kenh and a grinding plant in Hiep Phuoc.
Cementir Holding reports sales, earnings and profit growth in the first half of 2022
Italy: Cementir Holding’s sales rose by 22% year-on-year to Euro811m in the first half of 2022 from Euro665m in the first half of 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 7.7% to Euro144m from Euro134m. Its net profit grew by 39% to Euro66.6m from Euro47.9m. During the half year the group sold 5.41Mt of cement and clinker, down by 0.8% from 5.46Mt. The group attributed this to local sales declines in China, Denmark and Turkey.
Chair and chief executive officer Francesco Caltagirone said, “The first-half 2022 results are aligned with our forecasts. Despite the severe geopolitical tensions and the significant increase in raw materials, energy and logistic costs, the group is showing great resilience thanks to an increased geographical and product diversification and a focused cost management.”
Titan Cement’s first-half 2022 sales rise
Greece: Titan Cement’s consolidated sales rose by 26% year-on-year to Euro1.04bn in the first half of 2022 from Euro821m in the first half of 2021. The group’s US sales rose by 23% to Euro595m from Euro482m. Its Southeastern Europe sales grew by 28% to Euro169m, while its Greece and Western Europe sales grew by 21% to Euro158m and its Eastern Mediterranean sales grew by 49% to Euro113m. The producer also holds a stake in Brazil-based Cimento Apodi, which recorded sales growth of 38% to Euro50.5m. Titan Cement’s earnings before interest, taxation, depreciation and amortisation (EBITDA) amounted to Euro139m, down by 2.5% from Euro143m. The producer expects cost pressures to persist throughout 2022. It says that its focus is on safeguarding its production, protecting its margins, improving its efficiencies and continuing with its carbon mitigation strategies.
Titan Cement’s CO2 emissions per tonne of cementitious product fell by 5.6% year-on-year, driven by a reduction in the clinker factor.
Shree Cement’s sales increase in first quarter of 2023 financial year
India: Shree Cement recorded consolidated sales of US$527m in the first quarter of its 2023 financial year, up by 22% year-on-year from US$432m in the first quarter of the 2022 financial year. The company’s profit for the quarter was US$39.6m, down by 52% year-on-year from US$83m.
