BBMG Corp posts 17% fall in revenue in 2022

China’s BBMG Corp has posted a 16.8 per cent YoY decline in revenue in 2022 to CNY102,822.2m (US$14,938m). Net profit over the same period fell 66.6 per cent to CNY1739.9m, while basic earnings per share contracted from CNY0.27 to CNY0.11. Sales of cement in 2022 came in at 78Mt, while clinker sales reached 8.9Mt, giving a combined annual sales volume of 86.9Mt, marking a 12.8 per cent YoY decline.

According to the National Bureau of Statistics of China, national cement output in 2022 was 2.13bnt, down 10.5 per cent YoY and the lowest output since 2012. China’s real estate market continue to bottom out in 2022, resulting in the suspension of a number of housing projects, as well as ongoing pressure on the national economy. For 2023, infrastructure investment is expected to increase rapidly, according to BBMG.

BBMG currently has a clinker production capacity of 110Mta and cement production capacity of 180Mta.