Cement News tagged under: business results
Northern Region Cement reports 50% drop in net profit in 202325 March 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co saw a 11.6 per cent increase in revenue to SAR689.55m in 2023 from SAR617.95m in 2022. However, net profits were down by 49.9 per cent YoY to SAR556.39 in 2023 from SAR112.45m. In the nine-month period ended on 30 September 2023, the net profits after zakat and tax reached SAR64.7m, down 14.6 per cent YoY from SAR75.72m. |
Votorantim Cimentos announces a 123% increase in net profit in 202322 March 2024, Published under Cement NewsVotorantim Cimentos has reported a 123 per cent growth in net profit in 2023 to BRL2.6bn (US$522.7m), from BRL1.2bn in 2022. The company’s consolidated global net revenue was BRL27.7bn, increasing three per cent YoY from BRL30bn in 2022. This growth in revenue was due to advantageous market dynamics in North America, Europe, Asia and Africa. In Brazil, where the company is based, total sales amounted to 37Mta, increasing marginally from 2022. Global CEO of Votorantim Cimentos, Osvaldo A... |
Riyadh Cement reports 8% uptick in sales19 March 2024, Published under Cement NewsSaudi Arabia-based cement producer Riyadh Cement Co reported a 7.6 per cent increase in sales to SAR643.4m (US$171.6m) in 2023 when compared with SAR598m in 2022 on the back of an increase in sales volumes. The company’s operating income slipped by 0.4 per cent YoY to SAR201.06m in 2023 from SAR201.94m. Net profit declined by 0.6 per cent SAR188.8m in 2023 from SAR189.8m in the year-ago period. Annual earnings were affected by higher general and administrative expenses as well as zakat c... |
Cementir announces 2% drop in revenue in 202312 March 2024, Published under Cement NewsCementir has announced that its 2023 group revenues from sales and services have dropped 1.7 per cent to EUR1694.2m (US$1852.02m) after a record year of EUR1723.1m in 2022. The slight fall in revenues has been attributed to a reduction in volumes sold and weak local currencies, against a moderate increase in prices. Cementir added, in their press release that, had exchange rates remained constant from 2022, revenues would have increased 10.5 per cent to EUR1901.5m. This drop in revenues... |
Eastern Province Cement net profit up 39%12 March 2024, Published under Cement NewsSaudi Arabia-based Eastern Province Cement Co reported a 38.5 per cent advance in net profit to SAR198m (US$52.8m) in 2023 when compared with SAR143m in 2022. The company’s sales increased 25.6 per cent YoY to SAR985m from SAR784m. Earnings per share reached SAR2.30 in 2023, up from SAR1.67 in the year-ago period. |
LafargeHolcim Maroc posts 3% pick-up in revenue05 March 2024, Published under Cement NewsLafargeHolcim Maroc reported a revenue of MAD8212m (US$816.2m) in 2023, up 2.8 per cent YoY from MAD7975m in 2022. The advance is attributed to higher cement sales and increased clinker exports. In the 4Q23 alone, revenue was up 2.3 per cent YoY due to higher cement sales in the domestic market. LafargeHolcim Maroc decreased its net debt by 11.3 per cent to MAD4864m at the end of 2023 from MAD5486m at the end of 2022. |
Cementos Molins reports record results in 202329 February 2024, Published under Cement NewsSpain-based Cementos Molins closed 2023 with revenues of EUR1349m, up six per cent YoY with gains across all businesses and regions as sales increased and price management impacted positively on the company’s results. EBITDA advanced 22 per cent YoY to EUR337m thanks in particular to the contribution of the company’s Spanish and Mexican operations. Higher volumes, successful efficiency plans and increases in selling prices all played a role in improving the operational result. However, the... |
FLSmidth reports 39% increase in net profit22 February 2024, Published under Cement NewsIn its consolidated results of 2023, Denmark-based FLSmidth reported a 10 per cent increase in revenue to DKK24,106m from DKK21,849m in 2022. The company’s gross profit increased by 20 per cent YoY to DKK6087m from DKK5076m in 2022, resulting in an improved profit margin of 25.3 per cent in 2023 from 23.2 per cent in the previous year. EBITA increased from DKK943m in 2022 to DKK1438m in 2023 while net profit increased by 39 per cent YoY to DKK491m from DKK352m. Mining order intake decreas... |
SungShin Cement swings into the black in 202321 February 2024, Published under Cement NewsSouth Korea-based SungShin Cement reported a preliminary and unaudited revenue of KRW1.113trn (US$832,886) in 2023, up from KRW1.03trn in 2022. The company’s operating profit surged from KRW1.83bn in 2022 to KRW77.73bn in 2023 while net profit reached KRW65.75bn in 2023, a significant turnaround when compared with a loss of KRW26.47bn in 2022. SungShin operates the 11.3Mta Danyang integrated plant in Danyang-gun and the 0.5Mta Bugang grinding unit in Cheongwon-gun. |
Sika reports record sales, up 7%, in 202320 February 2024, Published under Cement NewsSika posted record sales of CHF11,238.6m, up 7.1 per cent with an increase of 14.5 per cent in terms of local currencies in 2023. Operating profit adjusted for one-time M&A effects increased to CHF1680.6m, up 12.7 per cent YoY, resulting in an EBIT margin of 15 per cent (2022:14.2 per cent). Net profit declined 8.6 per cent YoY to CHF1062.6m in 2023, resulting in a net profit margin of 9.5 per cent, down from 11.1 per cent in 2022. The company also closed the largest acquisition in its... |