Cement News tagged under: Pricing

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Challenging outlook for Lafarge Malaysia

23 May 2017, Published under Cement News

In the first three months of this year Lafarge Malaysia reported a net loss of MYR48.9m (US$11.4m) compared to a net profit of MYR20.6m for the same period a year ago due to lower operating profit and worsening pricing pressure. The group’s revenue decreased by 16.1 per cent to RM561.9m YoY. “This decrease was mainly attributable to the lower sales contribution from the cement segment due to the soft market demand, coupled with the increased industry capacity and the continued pricing pr...

Saudi Cement net profit down 37%

15 May 2017, Published under Cement News

Saudi Cement has registered a 37 per cent drop in its net profit for the first quarter of SAR165m (US$44m) versus SAR265m (US$70.5m) attributed to lower volumes and selling prices amid slugglish demand. Despite weaker volumes, helped by locational advantage, the company's average realised price marginally declined by three per cent YoY and was down two per cent QoQ, as compared to deep discounts offered by other cement companies, according to Al Rajhi Capital report. Saudi Cement's gro...

Najran Cement Co posts lower profits

09 May 2017, Published under Cement News

Najran Cement Company reported a 81.7 per cent YoY decline in its profits during the first quarter of 2017, according to a Saudi bourse filing. Profits reached SAR11.22m (US$2.99m) in 1Q17, compared to SAR61.34m in 1Q16. Net revenues fell 50.4 per cent to SAR111.4m in the period under review, compared to SAR224.4m in 1Q16. The company’s 1Q17 results were weighed down by lower selling prices, and decreased sales volumes due to lower demand and the slowdown in construction activitie...

CCNN earnings recover on strong prices

04 May 2017, Published under Cement News

The Cement Company of Northern Nigeria (CCNN) reported sizeable growth across all profit lines in the first quarter of 2017. In line with trend observed across other industry players, strong cement prices (up around 70 per cent YoY) weighed on CCNN’s cement volume but still provided greater positive impact on topline as revenue rose 22 per cent YoY to NGN4.4bn (US$13.9m), Vetiva Research said in a note on CCNN's results. Energy supply, particularly LPFO, remained stable over the quarter (a...

Northern Region Cement profit drops 61.6%

04 May 2017, Published under Cement News

Northern Region Cement Co reported a 61.6 per cent YoY decline in profits for the first quarter of this year, the Saudi-based cement producer said in a bourse filing on Wednesday. Profits reached SAR16.48m (US$4.4m) in 1Q17, down from SAR42.9m in the comparative period of the previous year. The company attributed the drop in profit to lower volumes and selling prices, as well as higher competition. Total sales contracted by 44.92 per cent to SAR127.3m in the quarter under review compa...

Cemex Philippines remains positive on construction prospects

03 May 2017, Published under Cement News

Cemex Philippines has said it remains confident on the prospects for domestic construction activity on the back of government investment in infrastructure after seeing lower volumes and pricing in the first quarter of this year. I n the three months to the end of March 2017, Cemex Philippines consolidated net income declined by 24 per cent to PHP350m (US$7m), against pro forma net income from the same period of last year. Lower volumes and prices were partially mitigated by better cost of...

India: the long wait continues

02 May 2017, Published under Cement News

Despite high hopes of a return to more robust growth rates, the Indian cement sector is likely to close FY16-17 with its slowest performance in over a decade. The third quarter (October-December 2016) proved to be particularly tumultuous as good demand growth seen in the early part of the period was stopped in its tracks by the government’s unexpected demonetisation move which also impacted pricing. As FY16-17 draws to a close, hopes of a return to more robust growth rates appear to h...

Dangote Cement delivers strong financial performance

02 May 2017, Published under Cement News

Dangote Cement reported a strong financial performance in 1Q17 despite a fall in volumes, with record revenues which were up by 48.1 per cent to NGN208.2bn (US$679.6m) and record EBITDA of NGN103.bn, up 42.3 per cent. “Dangote Cement produced record financial results in the first three months of 2017. Despite lower Group volumes, we delivered significantly higher revenues and EBITDA after realigning prices late in 2016. Our new pricing strategy meant every tonne worked harder for us in Ni...

Ambuja Cement sees market improvements

02 May 2017, Published under Cement News

Ambuja Cement, part of the LafargeHolcim group, reported that improving sales volumes, combined with favourable pricing contributed to positive 1Q17 results despite rising costs. Cement sales volume and price realisation improved in each consecutive month of the 1Q17, backed by good cement demand compared to the corresponding period a year, leading to a 5.3 per cent increase in net sales to INR25.33bn (US$395m). “With demonetisation largely behind us, we are well placed to serve both ...

Morgan Stanley rates UltraTech Cement rated ‘Overweight’

02 May 2017, Published under Cement News

UltraTech Cement has been rated ‘Overweight’ by Morgan Stanley with the EBITDA beat driven by costs, the research house notes. Morgan Stanley cited gradual improvement in industry cement demand, UltraTech Cements's positioning with timely capacity additions and its pan-India presence. Cost focus should further aid growth, it highlighted. "We believe current multiples are sustainable, as we project 25 per cent EBITDA CAGR over FY17-19. UltraTech reported a seven per cent YoY decline in FY1...