Global Cement News

Brazil: Votorantim Cimentos recorded consolidated sales of US$2.59bn during the first half of 2023, up by 51% year-on-year from US$2.37bn in the first half of 2022. The group reported that cement demand was ‘strong’ in the US and ‘stable’ in Spain, however the Brazilian and Canadian markets were ‘challenging.’ Its costs also rose, by 4.2% to US$2.1bn from US$2.02bn. Despite this, Votorantim Cimentos’ net profit grew by a factor of 11, to US$112m from US$10.1m.

India: Grasim Industries raised its sales during the first quarter of the 2024 financial year by 11% year-on-year, to US$3.57bn from US$3.39bn. Its net profit was US$311m, down by 7% from US$333m. During the quarter, Grasim Industries launched its Birla Pivot building materials e-commerce platform in Maharashtra, Madhya Pradesh and the National Capital Territory. The Hindu BusinessLine newspaper has reported that the company has a capital expenditure (CAPEX) budget of US$699m for the 2024 financial year.

Argentina: Loma Negra’s sales dropped by 2.1% year-on-year to US$353m in the first half of 2023, from US$361m in the first half of 2022. The company’s cement and lime sales were 3.15Mt, in line with first-half 2022 volumes. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 23% to US$86.8m, while its net profit dropped by 32% to US$31.1m from US$45.9m.

Thailand: Siam Cement Group (SCG) recorded sales of US$7.22bn in the first half of 2023, down by 17% year-on-year from US$8.69bn. Cement and building materials accounted for US$2.6bn (36%) of sales, behind chemicals at US$2.74bn (38%). The company's earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 24% to US$915m from US$1.21bn. Meanwhile, its profit excluding extra items dropped by 49% to US$279m from US$543m. Cement and building materials contributed 78.5m (28%) of group profit, down by 38% from US$126m (23%).

During the first half of 2023, sales of alternative CEM-I and CEM-II cement rose above 50% of SCG's cement sales for the first time, compared to 41% throughout 2022. The group substituted 22% of all cement fuel with alternative fuel (AF) across its operations, and 22% of cement fuel in its Thai domestic business. SCG invested US$91.5m in capital expenditure in its cement and building materials business throughout the first half of 2023.

China: Asia Cement (China)'s sales were US$569m during the first half of 2023, down by 17% year-on-year from first-half 2022 levels. Reuters has reported that the company's profit also dropped, by 37%, to US$27.2m from US$43.3m.

Asia Cement (China) said that it expects the current decline in Chinese cement demand to slow throughout 2023.