Cement News tagged under: Results

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Ramco Cements posts 4QFY24 results

24 May 2024, Published under Cement News

India-based Ramco Cements Limited (TRCL) has announced its financial results for the 4QFY24, reporting a 20 per cent decline in its standalone net profit after tax to INR1210m (US$14.54m), compared with INR1520m in the same period a year prior. The reduction in profit has been attributed to cost pressures. The company’s net revenue increased to INR26.87bn in Q4FY24. For the year ending 31 March 2024, the company’s net profit rose by 14.8 per cent from INR3.44bn to INR3.95bn. Meanwhile, ...

CEMEX sets record EBITDA in 1Q24

26 April 2024, Published under Cement News

CEMEX has reported net sales of US$4138m in the opening quarter of 2024, marking a three per cent increase YoY. EBITDA over the same period has advanced by five per cent to US$772m, while the EBITDA margin increased 0.5 percentage points to 18.7 per cent.  According to the company, three out of its four regional markets, accounting for 90 per cent of consolidated EBITDA, saw a combined growth rate of 15 per cent over the three-month period under review. There was further growth from inv...

Shree Cement predicted to see 2% sales advance

17 April 2024, Published under Cement News

India-based brokerage, Prabhudas Lilladher, has announced its estimated earnings for Shree Cement in the January-March 2024 period, with a forecast of INR5572m (US$66.58m) in net profit. This marks a two per cent advance YoY, but 24.1 per cent contraction QoQ.   Net sales are predicted to advance by 1.9 per cent YoY to INR48,754m, marking a 0.5 per cent decline QoQ, reports Money Control. Meanwhile, EBITDA is forecast to come in at INR11,208m, up 25.6 per cent YoY but down 9.1 per cent...

Sinai Cement sees sales surge in 2023

04 April 2024, Published under Cement News

Egypt’s Sinai Cement has reported a surge in sales, with EGP4.28bn (US$90.68m) posted for 2023, compared to EGP2.34bn in the previous year. A consolidated net loss after tax of EGP121.42m was seen in 2023, down from EGP330.41m in 2022, while the loss per share of the holding company fell from EGP2.48 in 2022 to EGP0.91 in the following year.  On a standalone basis, the net loss after tax contracted from EGP319.8m in 2022 to EGP117.58m in 2023. 

Fujairah Cement reports sales drop in 2023

27 March 2024, Published under Cement News

UAE-based  Fujairah Cement Industries has reported sales of AED343.81m (US$93.62m) in 2023. This marks a contraction from the AED374.58m seen in the previous year. The company has also recorded a net loss of AED265.53m in 2023, compared to the loss of AED143.85m in 2022, while the basic loss per share from continuing operations came in at AED0.74 in 2023, versus a loss of AED0.40/share in the previous year. 

Al Jouf Cement records 20% revenue advance

25 March 2024, Published under Cement News

Al Jouf Cement has reported revenue of SAR301.49m (US$80.4m) in 2023, up 19.7 per cent on the previous year. According to the company, the increase is due to improved sales volumes and average selling prices. The cement producer has also reported lower production costs backed by continued operating efficiency efforts. Operating income in 2023 came in at SAR115.83m, marking a YoY advance of 59.1 per cent.  In the fourth quarter of 2023, revenue stood at SAR83.74m, up 5.4 per cent on the ...

Anhui Conch sees profit decline in 2023

21 March 2024, Published under Cement News

Anhui Conch Cement has reported turnover of CNY140,999m (US$19,588m) in 2023. This compares to CNY132,021m in the previous year. Gross profit declined from CNY27,190m in 2022 to CNY22,364m in 2023, while profit before tax contracted from CNY20,232m to CNY13,869m over the same period. According to the company, profit for the year came in at CNY11,018m in 2023, down from CNY16,357m in 2022. 

Hoffmann Green exceeds revenue target for 2023

19 March 2024, Published under Cement News

Hoffmann Green Cement Technologies has reported revenue of EUR6.04m in 2023, far exceeding its target of EUR4.5m, and marking a notable increase from EUR2.2m in the previous year. This is attributed to the increase in cement sales volumes and the signing of the company’s first international licensing contract in Saudi Arabia. EBITDA improved from -EUR6.6m in 2022 to -EUR5.2m the following year, while the company’s net loss increased from -EUR6.7m to -EUR7.9m over the same period.  Sales...

S&P upgrades CEMEX's credit rating

15 March 2024, Published under Cement News

Rating agency Standard & Poor’s (S&P) has upgraded CEMEX ’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation.  “Achieving an investment-grade credit rating from S&P is a very important milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “While we had record results last year, this rating is recognition of successful execution against our medium-te...

PT Solusi Bangun Indonesia reports uptick in YoY sales

14 March 2024, Published under Cement News

PT Solusi Bangun Indonesia Tbk has posted net sales of IDR12,371bn (US$798m) in 2023, marginally up from the IDR12,262bn seen in the previous year. Net income in 2023 came in at IDR894,645m, also marking an advance YoY compared to IDR839,276m in 2022. Basic earnings per share from continuing operations over the same timeframe improved from IDR93 in 2022 to IDR99 in 2023.