China: China Tianrui Group Cement's sales were US$1.09bn in 2023, down by 32% year-on-year from US$1.60bn. Reuters has reported that the company recorded a full-year loss of US$87.6m, where previously it recorded a profit of US$62m in 2022.
Sinai Cement reduces losses and reports increase in net sales in 2023
Egypt: Sinai Cement reported a reduction in its consolidated net loss after tax in 2023, amounting to US$2.57m, down from US$7m in 2022. The company's net sales saw an increase, reaching US$90.8m in 2023, up from US$49.6m the previous year.
Udaipur Cement commissions new grinding unit at Udaipur cement plant
India: Udaipur Cement has commissioned a new grinding unit at its Udaipur cement plant in Rajasthan. The unit more than doubles the plant’s grinding capacity from 2.2Mt/yr to 4.7Mt/yr. Capital Market News has reported that the Udaipur plant now has an integrated capacity of 3Mt/yr, following the establishment of a second 1.5Mt/yr clinker line there in October 2023.
The company said "Udaipur Cement has been a pioneer in the promotion of various green initiatives. The company is the only one in the entire Indian cement industry with a 1MW floating solar power plant at its mines. During the fourth quarter of the 2024 financial year, the company also doubled its Udaipur cement plant’s waste heat recovery capacity from 6MW to 12MW. This has enabled Udaipur Cement to achieve a green energy share of more than 50% in total electrical energy consumption."
Buzzi reveals 2023 financial results
Italy: Buzzi reported a net profit of €967m in 2023, more than doubling from €459m in the previous year. The company's consolidated revenue rose by 8.1% to €4.3bn, despite a fall in cement and concrete sales volumes of 7% and 12.7% respectively. Earnings before interest, taxation, depreciation and amortisation (EBITDA) reached €1.2bn, marking a 40.7% year-on-year increase.


