Cement News tagged under: business results

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PPC reports 11% increase in revenue in FY22

28 June 2022, Published under Cement News

PPC has reported group revenue for the 12 months ended 31 March 2022 of ZAR9882m (US$621.9m), an increase of 11 per cent YoY. Excluding Zimbabwe, group revenue was up five per cent, while revenue in PPC Zimbabwe alone advanced by 34 per cent on the back of a 28 per cent upturn in volumes. Profit before tax from continuing operations came in at ZAR186m, compared to ZAR1765m in the year-ago period, due in part to PPC Zimbabwe incurring a loss before tax of ZAR67m, and impairments of ZAR38m. ...

Taiwan cement producers sees dent in revenues in May

10 June 2022, Published under Cement News

Taiwan’s cement producers reported mostly a decrease in revenues in May. Lucky Cement posted a 6.9 per cent YoY drop in May revenue to TWD332.258m (US$11.23m) from TWD357.039m in May 2021. In the first five months of 2022, revenue declined by 11.4 per cent to TWD1548.687m from TWD1748.555m in the January-May period. For Chia Hsin Cement Co the month proved more challenging as it saw revenue down 16.8 per cent YoY as the company posted a revenue of TWD163.521m in May 2022 from TWD196.43...

Southern Province Cement starts work on new Jazan plant

01 June 2022, Published under Cement News

Southern Province Cement Co has started work on its new 5000tpd plant in Jazan, Saudi Arabia. The project is part of the company’s plans to boost its production capacity to 10,000tpd and gradually replace its current production lines. Southern Province Cement’s performance remained under pressure in the first quarter of 2022 as revenues were down 25 per cent YoY .

Sinai Cement reduces 1Q loss

01 June 2022, Published under Cement News

Egypt-based Sinai Cement , owned by Vicat , has posted consolidated net losses after tax of EGP67.19m (US$3.6m) in the first quarter of 2022, an improvement when compared with the year-ago period when losses reached EGP147.97m. Standalone losses were reduced YoY to EGP66.25m from EGP146.23m. Revenues increased to EGP475.57m in the 1Q22 from EGP282.62m in the 1Q21, according to a bourse filing on 31 May.

Cemento Polpaico reports 67% drop in 1Q profit

31 May 2022, Published under Cement News

Chilean cement producer Cemento Polpaico reported net sales of CLP89,359m (US$107.6m) in the first quarter of 2022, up 7.5 per cent when compared with CLP83,145m in the 1Q21. However, the company’s net profits declined by 66.9 per cent in the 1Q22 to CLP1365m from CLP4124m in the 1Q21. The reduced performance has been attributed by the company to a rise in production  and distribution costs on the back of higher inflation, rising exchange rates and increasing input costs. In the 1Q22 t...

Misr Beni Suef Cement sees profits surge to EGP48m in 1Q22

31 May 2022, Published under Cement News

Egypt-based Misr Beni Suef Cement reported net profits after tax of EGP47.65m (US$2.56m) in the 1Q of 2022, up from EGP37.42 in the 1Q21. The company’s revenues advanced to EGP436.38m in the 1Q22from EGP255.92m in the year-ago period, according to a bourse disclosure on 30 May 2022.

Taiwan Cement shifts focus to green energy and waste

27 May 2022, Published under Cement News

Taiwan Cement Corp (TCC) saw its cement revenue on mainland China fall by 7.8 per cent YoY in the opening quarter of 2022 with the sales volume over the same period contracting by 24.1 per cent, according to Nelson Chang, chairman of TCC, speaking at the company’s annual general meeting on 26 May, 2022. Cement prices in the 1Q22 improved by 18 per cent, but this did little to offset the 195 per cent YoY uptick in the international coal price. However, consolidated revenue advanced by four ...

Eagle Cement Corp 1Q net profit slips 3%

26 May 2022, Published under Cement News

Philippines-based Eagle Cement Corp reported a three per cent decrease in net income to PHP1.66bn (US$31.674m) in the first quarter of 2022 from PHP1.72bn in the equivalent period of 2021. The company’s sales advanced 30 per cent from PHP5.3bn in the 1Q21 to PHP6.83bn in the 1Q22 as historically high quarterly sales volumes combined with higher average cement prices. In addition, its subsidiary Solid North Mineral Corp contributed extra revenue. Gross profit was PHP2.59bn, up 11 per ce...

HeidelbergCement India posts 7.2% uptick in revenue in FY22

25 May 2022, Published under Cement News

HeidelbergCement India has recorded a one per cent YoY increase in revenue (net of taxes) to INR5867m (US$75.65m) in the first quarter of 2022. EBITDA over the same period has fallen 22.1 per cent to INR1186m, with the EBITDA margin contracting from 26.2 to 20.2 per cent. Profit after tax in the 1Q22 came in at INR936m, down 33.1 per cent YoY. EBITDA per tonne stood at INR961, a decline of 21 per cent YoY. Sales volumes of 1.23Mt were recorded in the 1Q22, down from the 1.25Mt seen in the sa...

Shree Cement sees 4% increase in revenue in 1Q22

24 May 2022, Published under Cement News

Shree Cement has reported a 3.9 per cent YoY uptick in revenue to INR40.99bn (US$527.8m) in the opening quarter of 2022. Sales volumes over the same period slipped two per cent to 8Mt, while EBITDA declined to INR10.49bn, compared to INR13.04bn in the 1Q21. The EBITDA margin contracted from 31.97 per cent in the 1Q21 to 24.75 per cent this year.   According to BusinessLine Online, the growth in revenue is being attributed to price increases as cost pressures and inflation continue to ha...