Global Cement News

China: CNBM’s total operating revenue fell by 1% year-on-year to US$7.29bn in the first quarter of 2022 from US$7.254bn in the same period in 2021. Its operating costs grew by 3% to US$6.90bn. Its net profit fell by 9% to US$420m from US$462m.

China: Anhui Conch’s revenue fell by 26% year-on-year to US$3.85bn in the first quarter of 2022 from US$5.21bn in the same period in 2021. Its net profit fell by 14% to US$773m from US$900m. However, its operating costs fell by 29% to US$2.96bn from US$4.16bn.

China: China Resources Cement’s (CRC) turnover fell by 18% year-on-year to US$889m in the first quarter of 2022 from US$1.08bn in the same period in 2021. Its sales volumes of cement, clinker and concrete decreased by 34%, 12% and 23% respectively to 12.2Mt, 0.78Mt and 2.22Mm³ respectively. Its profit dropped by 43% to US$92.9m from US$164m.

China: Cement output fell by 12% year-on-year to 387Mt in the first quarter of 2022. Data from the Ministry of Industry and Information Technology also shows that cement output volumes fell by 5.6% year-on-year to 187Mt in March 2022, according to the Xinhua News Agency. The China Cement Association has blamed this on the latest local coronavirus wave, limited construction project funds and poor weather.

Nigeria: Dangote Cement sales volumes in the first quarter of 2022 have been hampered by disruptions to gas supplies domestically and by high freight rates restricting its exports of cement and clinker to Cameroon, Ghana and Sierra Leone. Its sales volumes of cement fell by 3.6% year-on-year to 7.25Mt in the first quarter of 2022 from 7.52Mt in the same period in 2021. Its revenue grew by 24% to US$994m from US$801m. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 18.6% to US$508m from US$428m.

Michael Pucheros, the chief executive officer of Dangote Cement, said “Our group volumes were down 3.6% mainly due to energy supply challenges in Nigeria. Our operations relying on cement and clinker imports – namely Ghana, Sierra-Leone, Cameroon - were impacted by the global supply chain challenges.” Additionally, its operations outside of Nigeria was also negatively affected by a cement plant in Congo being shut for over two months due to maintenance and repairs and extended power plant maintenance in Senegal.