Cement News tagged under: business results

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Adelaide Brighton pulls 2020 profit guidance

02 April 2020, Published under Cement News

Australia’s Adelaide Brighton has pulled its 2020 profit guidance due to the economic uncertainty resulting from the coronavirus pandemic, but noted it has AUD450m (US$274.55m) in cash and undrawn bank facilities. According to the company’s webpage, it still has no known cases of COVID-19 across its business. "All our 130+ locations remain open for business and we are well stocked with raw materials to meet the needs of all our valued customers. We’ll continue to meet with our customers to...

Ambuja Cement of India profit grows in FY19

02 April 2020, Published under Cement News

Ambuja Cement Ltd of India has reported an increase in total income of 3.1 per cent and profit after tax (PAT) advance of 2.8 per cent during FY19, despite an increase of 0.6 per cent in operating expenses, according to detailed stand-alone financial result released recently.   The total income increased to INR120.94bn (US$1.586bn) in 2019 from INR117.32bn in the year-ago period. PAT reached to INR15.29bn in 2019 from INR14.78bn in 2018. Operating expenses increased from INR94.65bn in 2018 t...

China Tianrui Group Cement Co reports 50% rise in FY profit

02 April 2020, Published under Cement News

China Tianrui Group Cement Co has posted for 2019 an attributable profit of CNY1.819bn (US$256m), up 50 per cent when compared with 2018. The company’s full-year revenues increased by 20.1 per cent YoY to CNY12.088bn, according to Reuters.

China Resources Cement sees 8% increase in net profit

30 March 2020, Published under Cement News

China Resources Cement Holdings has reported an 8.1 per cent increase in net profit to HKD8.62bn (US$1.11bn) for 2019. Revenue inched up 0.4 per cent YoY to HKD38.96bn. The company attributed the improved profit margins to lower costs for cement sales. Since the company's principal business area is in mainland China, the yuan's weakness against the Hong Kong dollar in 2019 lowered the company's revenue in HKD terms.

LafargeHolcim implements coronavirus action plan

27 March 2020, Published under Cement News

LafargeHolcim has announced the implementation of its action plan regarding the coronavirus pandemic, stating that it is closely monitoring all markets and the guidance provided by the authorities in each country. "In China, the recovery of the construction sector has started and all our plants outside of Hubei Province are operating. We forecast the market demand to further recover and to supply 70 per cent of last year’s volume in April 2020. In most of the other key markets, the constr...

Votorantim Cimentos records 3% rise in 2019 revenue

27 March 2020, Published under Cement News

Brazil-based Votorantim Cimentos has seen a three per cent rise in consolidated net revenue to BRL13bn (US$2.61m) in 2019, compared to BRL12.6bn recorded in the previous year. Consolidated EBITDA saw a modest increase of one per cent YoY to BRL2.7bn from BRL2.6bn, with a margin of 20 per cent (21 per cent in 2018). Brazil Net revenue in the company’s domestic market was up four per cent from BRL6.6bn in 2018 to BRL6.8bn in 2019, mainly due to higher volumes and prices in the cement market...

Buzzi Unicem sees 12% rise in sales, stable net profit in 2019

26 March 2020, Published under Cement News

Italy-based Buzzi Unicem reported a 12.1 per cent rise in net sales in 2019 to EUR3.221bn in 2019, up from EUR2.874bn. The company posted a 4.3 per cent YoY rise in cement sales to 29.122Mt in 2019 while ready-mix sales remained stable at 12.1Mm3 over the same period. EBITDA surged to 26.1 per cent to EUR728.1m in 2019 while recurring EBITDA saw a 23.9 per cent jump to EUR704.4 when compared with the previous year. Net profit advanced by 0.8 per cent to EUR385.9m and consolidated net profit ...

Eagle Cement sees sales advance 20% in 2019

26 March 2020, Published under Cement News

Philippines-based Eagle Cement Corp saw its net sales advance 20 per cent YoY to PHP19.82bn (US$387.78m) in 2019. Gross profit rose 20 per cent to PHP8.67bn, while net income reached PHP6.02bn. The company has attributed the positive results to the commissioning of its third production line in Bulacan, increasing its total capacity to 2Mta. The construction of its fourth production line in Cebu, which will boost capacity by a further 2Mta, is set for completion by December 2022. "Eagle...

Sinai Cement reports widening net loss in 2019

26 March 2020, Published under Cement News

Egypt’s Sinai Cement has reported a significant widening in its net loss for 2019. The net loss expanded to EGP442.25m (US$28.07m) from an EGP306m loss in 2018. The company has attributed the results to the accumulated effects of the Egyptian pound devaluation on imported fuel and an increase in the prices of electricity and oil.

Dongwu Cement sees 11% increase in revenue for 2019

26 March 2020, Published under Cement News

China’s Dongwu Cement has seen a 10.7 per cent increase in revenue to CNY571.15m (US$80.5m) in 2019, rising from CNY516.04m in the previous year. Profit declined 32.3 per cent YoY to CNY60.7m from CNY89.67m. "As a result of increases in both sales volume and price in China’s domestic cement industry, operating income of cement segment of the group in 2019 increased steadily as compared with the corresponding period of last year. The group recorded a profit of approximately CNY92,853,000 fr...