Vietnam: Vicem posts loss of VND220bn in Jan-Sept

Vietnam: Vicem posts loss of VND220bn in Jan-Sept
Published: 19 October 2011

The state-run Vietnam Cement Industry Corporation (Vicem) posted a loss of VND220bn (US$10.63 m) in the first nine months of this year though its cement sales rose 6% from a year earlier to 13.7Mt.

Soaring prices of input materials, including fuel (between 32% and 43%); power (15.28%); coal (88%) and interest rates (between 19% and 21.5%) were mainly attributed to the corporation’s loss.

Between Jan and Sept, Vicem sold 12.9Mt of cement in the domestic market and shipped 991,000t to oversea markets, fulfilling 67% of its whole-year target and making up 33.9% of the country’s market share.

The corporation generated 10.7Mt of clinker in Jan-Sept, rising 16.6% YoY and fulfilling 74% of the firm’s whole year target.

Its cement production, however, fell 6% YoY to 12Mt during the nine-month period.
By late September, Vicem’s production stockpile amounted to as many as 1.77Mt, including 1.39Mt of clinker and 330,000t of cement.

The firm plans to generate 3.7Mt of clinker and 6.9Mt of cement in the 4Q12.

The corporation also targets to sell 6.91Mt of cement during the last three months of this year, including export of 320,000t of clinker and 50,000t of cement.