Misr Beni Suef revenues boosted by higher prices

Misr Beni Suef revenues boosted by higher prices
Published: 19 March 2014


Misr Beni Suef Cement (MBSC) saw a 20 per cent rise in revenues in 2013 to EGP1.32bn (US$189.6m) as higher cement prices compensated for lower volumes.
 
Total sales volumes dropped seven per cent YoY, implying a utilisation rate of 89 per cent compared to 96 per cent in 2012. Domestic shipments accounted for 75 per cent sent of the company’s sales while the remainder was exported.
 
Meanwhile, its average cement prices for the year stood at EGP494/t (US$71) up 28 per cent YoY. Gross profit rose at a lower pace of 11 per cent YoY on a 180bps squeeze in the gross profit margin to 23.2 per cent, implying that the company chose not to pass on all the increase in energy prices.