Votorantim Cimentos sees 15% rise in 1H turnover

Votorantim Cimentos sees 15% rise in 1H turnover
14 September 2018

Votorantim Cimentos saw its first-half turnover improve by 14.9 per cent in 1H18 to BRL5738m (US$1365m) when compared with 1H17. The Brazilian producer’s cement sales advanced by 18 per cent YoY to BRL4191m and the aggregates turnover rose by 52.9 per cent to BRL198m.While the turnover in ready-mixed concrete was a more modest 8.7 per cent ahead at BRL1019m, the turnover in other products and services declined by 11.7 per cent to BRL330m.

The company’s trading profit came off by 13.2 per cent YoY to BRL337.6m in 1H18. The net interest charge jumped by 58.1 per cent to BRL653.4m.

Pretax profit fell from BRL13.2m to a pretax loss BRL244.6m while net loss went from BRL122.8m to BRL290.9m.

Votorantim Cement North America’s first-half turnover eased by 1.5 per cent to US$374m, while trading profit fell by 34.4 per cent to US$28.4m. The net interest charge virtually doubled to US$37m, leading to the pretax result moving from a US$24.5m profit to a US$8.6m loss. At the net level, the swing was from a BRL23.7m profit to a loss of BRL9.8m.

2Q18 results
In the 2Q18 Votorantim Cimentos’ cement volume increased by 6.4 per cent to 8.3Mt when compared with the 7.8Mt sold in the 2Q17.

In Brazil second-quarter turnover improved by 15.3 per cent YoY to BRL1611m, but transport strikes contributed to a 38 per cent decline in the EBITDA to BRL199m. 

At the company’s other Latin American operations, higher sales volumes in Bolivia and Uruguay led to a 46.2 per cent YoY rise in turnover to BRL171m, with EBITDA jumping by some 69 per cent to BRL44m from BRL26m in 2Q17.

After a relatively severe winter, Votorantim Cement North America’s second-quarter turnover improved by 13.5 per cent to BRL915m and EBITDA was 4.1 per cent higher at BRL255m, helped by higher volumes in Ontario and better prices in the USA.

Published under Cement News