Cement News tagged under: business results
Carthage Cement reports record turnover23 January 2024, Published under Cement NewsTunisia-based Carthage Cement closed 2023 with a turnover of TND431m (US$138.7m), up 18 per cent when compared with the company’s turnover in 2022, driven by its cement and aggregate business. Domestic turnover increased 22 per cent to TND339m in 2023 from TND278m in 2022. Export turnover was stable at TND57m. Aggregate sales increased 27 per cent YoY from TND17.6m to TND22.4m in 2023. Concrete sales fell by 11 per cent YoY to TND12.7m from TND14.3m. The company invested TND30.5m and ... |
Sika posts record sales in 202312 January 2024, Published under Cement NewsSika reports record sales of CHF11.24bn in 2023, up 7.1 per cent YoY in Swiss franc terms and 14.5 per cent in local currency terms. There was a high negative foreign currency effect of -7.4 per cent due to the sharp appreciation of the Swiss franc. Thomas Hasler, Sika's CEO, said: “Sika has once again proved its resilience over the past 12 months. Thanks to our well-functioning business model, our high level of innovation, and the strong commitment of our 33,000 employees around the world... |
Cemento Polpaico posts 9M23 loss30 November 2023, Published under Cement NewsChile-based Cemento Polpaico reported losses of CLP9016.24m (US$10.4m) in the first nine months of 2023, compared with a profit of CLP3576.95m in the 9M22. The company's revenue improved 4.2 per cent YoY to CLP261,921.45m in the 9M23. EBITDA reached CLP9743.17m in the 9M23 when compared with CLP16,485.72m in the 9M22. "During the third quarter of 2023, a lower dynamism in the construction sector, marked by a significant decrease in the demand for materials, associated to a decrease in th... |
Profit margins under pressure20 November 2023, Published under Cement NewsIn 2022 cement company profit margins came under pressure, particularly when compared with the previous year. Dr Michael Clark takes a closer look at cement company profit margins in 2022 and 2023, the factors that affect them and how to protect profits in a changing world. By Dr Michael Clark, UK. Figure 1: comparison of gross margins in 2021 vs 2022 (©Dr Michael Clark) When compared to cement company profits in 2021, the profits in 2022 came under pressure. Whitehopleman’s... |
Hume Cement sees return to profit in 1QFY23-2417 November 2023, Published under Cement NewsMalaysia-based Hume Cement reported a MYR48.33m net profit for the 1QFY23-24, ended 30 September 2023 versus a net loss of MYR12.04m in the year-ago period. Revenues advanced to MYR306.66m in the 1QFY23-24 from MYR206.79m in the 1QFY22-23. The increase was attributed to a revision in the selling price of cement to help offset the rise in energy costs and the higher cement sales volume as the construction sector recovered. Looking ahead, the company forecasts the construction sector to co... |
Martin Marietta posts improved 3Q results06 November 2023, Published under Cement NewsMartin Marietta Materials Inc posted total revenues of US$1994.1m in the 3Q23, up 10.1 per cent YoY from US$1811.7m. Gross profit improved 38.6 per cent YoY to US$676m in the 3Q23 from US$487.8m. Net earnings from continuing operations saw a 47.8 per cent YoY increase to US$430.3m from US$291.2m in the year-ago period while adjusted EBITDA improved 32.2 per cent YoY to US$705.2m from US$533.1m. Martin Marietta’s Building Materials business generated record revenues of US$1.9bn, up 10.5 p... |
Saudi Cement sees drop in 3Q profit06 November 2023, Published under Cement NewsSaudi Cement Co reported a 15.4 per cent drop in quarterly net profit after tax and zakat to SAR68.3m (US$18.2M) in the 3Q23 when compared with the year-ago period when net profit reached SAR80.7m. Sales in the 3Q23 fell four per cent YoY to SAR315m to SAR328.1m, due to a drop in volumes and price of local sales. Selling and distribution expenses as well as general and administrative expenses increased. Financial charges were also higher. |
Kakatiya Cement returns to black in 2QFY23-2406 November 2023, Published under Cement NewsIndia-based Kakatiya Cement Sugar & Industries reported a standalone net profit of INR18m in the 2QFY23-24 when compared to a net loss of INR49.9m in the year-ago period. Operating income increased by 107.3 per cent to INR5.3m in the 2QFY23-24 from an operating loss of INR72.8m. Operating expenses during the 2Q fell by 9.2 per cent YoY to INR372m from INR409.7m in the previous year’s equivalent period. Net revenue increased by 12 per cent to INR377.3m when compared with INR336.9m in the ... |
Indonesia’s increased 9M23 demand sees positive results for key producers03 November 2023, Published under Cement NewsIndonesian cement consumption increased 4.4 per cent YoY and 2.7 per cent MoM to 6.12Mt in October 2023, as infrastructure projects in Sumatra were completed and work progressed on the Indonesian National Capital (IKN) project in Kalimantan, according to the Indonesian Cement Association (ASI). In the first nine months of 2023, demand reached 45.3Mt. PT Semen Indonesia Tbk and Indocement Tunggal Prakarsa Tbk increased their market shares to 52.2 and 27.7 per cent, respectively. Semen... |
Umm Al Qura Cement and City Cement see fall in profit03 November 2023, Published under Cement NewsSaudi-Arabia-based Umm Al Qura Cement Co reported net profits of SAR1.44m (US$0.38m), representing a 76.4 per cent drop YoY from SAR6.12m in the third quarter of 2023. Revenues decreased by 38.2 per cent YoY to SAR33.51m from SAR54.2m in the 3Q23. In the first nine months of 2023 the company posted net profits of SAR10.05m, down 65.7 per cent YoY from SAR29.3m. Revenues fell by 33.9 per cent to SAR118.5m in the 9M23 from SAR179.29m in the 9M22. Meanwhile, City Cement Co saw its net pr... |