Cement News tagged under: business results
PPC expects drop in South Africa and Botswana sales volumes17 March 2023, Published under Cement NewsSouth Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for the FY22-23. The company expects net debt in the two countries to be between ZAR725m-775m at year-... |
China Shanshui Cement preliminary profit down 73%17 March 2023, Published under Cement NewsChina Shanshui Cement has posted a preliminary profit for the full year of CNY748.7m, down 73.0 per cent YoY on the back of falling sales, according to Reuters. The company’s operating revenue in 2022 reached CNY21.49bn. Going forward, the group will focus on improving product quality and reducing costs. Cement demand, which was sluggish throughout 2022, is expected to stabilise and decline in 2023. |
Yanbu Cement full-year profit up 35%16 March 2023, Published under Cement NewsSaudi Arabia-based Yanbu Cement has reported a 35 per cent increase in full-year net profit to SAR215.41m (US$57.44m) from SAR159.56m in the year-ago period. Sales were up five per cent YoY to SAR981.17m from SAR934.03m on the back of improved selling prices in the domestic and export markets. In addition, the cost of sales decreased. Clinker production increased. |
Cementir reports significant revenue increases in Europe in 202213 March 2023, Published under Cement NewsCementir's regional results showed significant revenue increases in Turkey, Europe, US and Malaysian markets. However, cement sales were under pressure in most regions. Cementir ’s Danish sales revenues in 2022 reached EUR509.8m, up 23.2 per cent compared to EUR413.9m in 2021, due mainly to the rise in sales prices. Overall cement volumes decreased by six per cent compared to previous year. White cement exports declined by 29 per cent. Ready-mixed concrete volumes in Denmark fell by five... |
Cementir announces record revenues of EUR1721m in 202210 March 2023, Published under Cement NewsCementir announced historical group revenues in 2022 from sales and services totalling EUR1720.9m, up 26.5 per cent on EUR360m in 2021. The increase in revenue is mainly due to the price policy to mitigate the exceptional increase in the costs of fuel, electricity, raw materials, transport and services. It should be noted that at constant 2021 exchange rates revenue would have been equal to EUR1854m, up by 36.3 per cent compared to the previous year. EBITDA reached an all-time r... |
Cementarnica Usje posts 13% drop in net profit in 202203 March 2023, Published under Cement NewsCementarnica Usje , the North Macedonian subsidiary of Titan, reported a 13 per cent YoY drop in net profit to MKD1bn (US$17.2m) in 2022 as costs increased. Operating expenses were up 41 per cent YoY to MKD5.8bn in 2022 as raw material costs increased by 67 per cent YoY to MKD3.5bn. Operating revenue advanced 25 per cent YoY to MKD6.7bn in 2022. Sales within Macedonia increased 26 per cent YoY to MKD4.1bn while export sales were up 22 per cent YoY to MKD2.3bn in 2022. |
Cemento Polpaico sees 70% drop in profits in 202201 March 2023, Published under Cement NewsChile’s Cemento Polpaico , owned by the Hurtado Vicuña Group , reported a 16.9 per cent increase in revenue in 2022 to CLP368,391m when compared with 2021 when revenue reached CP315,273m. The company sold 2,028,816t of cement, down 9.6 per cent YoY, while concrete sales reached 3,287,348m 3 , down three per cent YoY. However, net profits were down 70 per cent YoY to CLP3921m in 2022 from CLP12,901m in the previous year. "The year 2022 presented less dynamism in the sector of constructi... |
BUA Cement sees 12% increase in net profit in 202228 February 2023, Published under Cement NewsNigeria-based BUA Cement reported a 40.3 per cent increase in revenues to NGN360,989m (US$7783.4m) in 2022 when compared with a revenue of NGN257,327m in 2021. Profit before tax advanced 16.8 per cent to NGN120,154m in 2022 from NGN102,873m in the previous year while profit after tax was up 12.1 per cent to NGN101,011m in 2022 from NGN90,079m. |
Arabian Cement posts 12% rise in profits in 202228 February 2023, Published under Cement NewsSaudi-Arabia-based Arabian Cement has reported net profits after zakat and tax of SAR181m (US$48.3m) in 2022, representing a YoY increase of 12.1 per cent from SAR161.5m. The company saw a six per cent decline in revenues to SAR970.9m in 2022, up from SAR1.03bn in 2021. Earnings per share grew to SAR1.81 from SAR1.62 in 2021. |
Corporacion Moctezuma 2022 net profit slips 3%27 February 2023, Published under Cement NewsCorporación Moctezuma posted a 14.5 per cent YoY growth in revenues to MXN4368.7m (US$237.3m) in the fourth quarter of 2022. The company reported EBITDA of MXN1677.8m in the 4Q22, representing a YoY increase of 17.5 per cent from MXN1427.6m. Net profit in the 4Q22 advanced 11.3 per cent YoY to MCN1099.1m from MXN987.1m in the equivalent period of the previous year. The volatility of the Mexican peso-US dollar exchange rate impacted the results with the peso appreciating against the doll... |