Cement News tagged under: business results

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LafargeHolcim Maroc reports 31% drop in net income

24 March 2023, Published under Cement News

LafargeHolcim Maroc , part of the Holcim group, posted a 2.6 per cent YoY decrease in consolidated turnover to MAD7.98bn (US$776.5m) in 2022. Sales volumes of the company contracted and were only partially offset by higher clinker sales and the increase in the average selling price. Moroccan cement demand declined by 10.6 per cent in as inflation impacted the economy. Current operating income reached MAD2.69bn in 2022, down 23 per cent YoY, due to the drop in cement sales and the rise in...

Eastern Province Cement FY profit sees 26% drop

21 March 2023, Published under Cement News

Full-year sales of Saudi Arabia’s Eastern Province Cement advanced 3.4 per cent to SAR784m (US$209.1m) in 2022 to SAR758m in the year-ago period. Net profit after zakat and tax was down 25.9 per cent to SAR143m in 2022 from SAR193m a year ago as financing, precast sales, general and administrative, and general and selling expenses, and other expenses all increased. Meanwhile, Eastern Province Cement has invited bids from specialist companies for the establishment of a new clinker prod...

Northern Region Cement posts 5% increase in 2022 net profit

21 March 2023, Published under Cement News

Revenues of Northern Region Cement Co in Saudi Arabia increased by 10 per cent to SAR617.95m in 2022 from SAR561.91m in 2021. Net profits after zakat and tax advanced 5.4 per cent YoY to SAR112.45m from SAR106.67m in 2021. Earnings per share increased to SAR0.62 on 31 December 2022, up from SAR0.59m in the previous year. Appointments The company also announced Sulaiman Salim Al Harbi and Faisal Hamad Al Sugar as the new chairman and vice-chairman of the board, respectively for the ...

City Cement reports drop in net profit in 2022

21 March 2023, Published under Cement News

Sales of Saudi-Arabia-based City Cement saw a 13.1 per cent fall to SAR431.4m (US$115m) in 2022 from SAR496.7m in 2021, reports Reuters. Net profit after zakat and tax was down 28.3 per cent YoY to SAR115m from SAR160.3m in 2021. City Cement operates a 5.28Mta integrated cement plant at Marat , northwest of Riyadh in central Saudi Arabia.

PPC expects drop in South Africa and Botswana sales volumes

17 March 2023, Published under Cement News

South Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for the FY22-23. The company expects net debt in the two countries to be between ZAR725m-775m at year-...

China Shanshui Cement preliminary profit down 73%

17 March 2023, Published under Cement News

China Shanshui Cement has posted a preliminary profit for the full year of CNY748.7m, down 73.0 per cent YoY on the back of falling sales, according to Reuters. The company’s operating revenue in 2022 reached CNY21.49bn. Going forward, the group will focus on improving product quality and reducing costs. Cement demand, which was sluggish throughout 2022, is expected to stabilise and decline in 2023.

Yanbu Cement full-year profit up 35%

16 March 2023, Published under Cement News

Saudi Arabia-based Yanbu Cement has reported a 35 per cent increase in full-year net profit to SAR215.41m (US$57.44m) from SAR159.56m in the year-ago period. Sales were up five per cent YoY to SAR981.17m from SAR934.03m on the back of improved selling prices in the domestic and export markets. In addition, the cost of sales decreased. Clinker production increased.

Cementir reports significant revenue increases in Europe in 2022

13 March 2023, Published under Cement News

Cementir's regional results showed significant revenue increases in Turkey, Europe, US and Malaysian markets. However, cement sales were under pressure in most regions. Cementir ’s Danish sales revenues in 2022 reached EUR509.8m, up 23.2 per cent compared to EUR413.9m in 2021, due mainly to the rise in sales prices. Overall cement volumes decreased by six per cent compared to previous year. White cement exports declined by 29 per cent. Ready-mixed concrete volumes in Denmark fell by five...

Cementir announces record revenues of EUR1721m in 2022

10 March 2023, Published under Cement News

Cementir announced historical group revenues in 2022 from sales and services totalling EUR1720.9m, up 26.5 per cent on EUR360m in 2021. The increase in revenue is mainly due to the price policy to mitigate the exceptional increase in the costs of fuel, electricity, raw materials, transport and services. It should be noted that at constant 2021 exchange rates revenue would have been equal to EUR1854m, up by 36.3 per cent compared to the previous year.  EBITDA reached an all-time r...

Cementarnica Usje posts 13% drop in net profit in 2022

03 March 2023, Published under Cement News

Cementarnica Usje , the North Macedonian subsidiary of Titan, reported a 13 per cent YoY drop in net profit to MKD1bn (US$17.2m) in 2022 as costs increased. Operating expenses were up 41 per cent YoY to MKD5.8bn in 2022 as raw material costs increased by 67 per cent YoY to MKD3.5bn. Operating revenue advanced 25 per cent YoY to MKD6.7bn in 2022. Sales within Macedonia increased 26 per cent YoY to MKD4.1bn while export sales were up 22 per cent YoY to MKD2.3bn in 2022.