Cement News tagged under: business results

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International Cement Group sees revenue advance 14% YoY

11 April 2024, Published under Cement News

International Cement Group (ICG) , which operates cement plants in Tajikistan and Kazakhstan, has reported revenue of SGD257.4m (US$191.4m) in 2023, up 14 per cent on the SGD225.2m seen in the previous year. Net income over the same period was down 44 per cent to SGD16.1m. EBITDA in 2023 was recorded at SGD60.8m, down from SGD66.2m in the previous year, while profit after tax contracted from SGD38.8m in 2023 to SGD29.1m in 2024. According to the company, the fall in profit was driven by a s...

Trinidad Cement post-tax profit soars in 2023

08 April 2024, Published under Cement News

Trinidad Cement Ltd (TCL) saw revenue increase by 8.2 per cent YoY to TTD2.229bn (US$328.8m) from TTD2.061bn in 2022. EBITDA slipped by one per cent YoY to TTD514m, of which 85 per cent was attributed to the Jamaican operations, according to David Inglefield, the company's chairman. “Guyana also continues to improve its profitability with an increase in EBITDA of over 53 per cent compared to last year due to higher sales volumes and stronger pricing," he said. In terms of the Trinidad ...

Steppe Cement posts 24% drop in 1Q revenue

05 April 2024, Published under Cement News

Kazakhstan-based Steppe Cement reported revenue of KZT3.779bn (US$8.4m) in the first quarter of 2024, down 23.5 per cent from KZT4.938bn in the year-ago period. The company's market share in Kazakhstan contracted to 11.5 per cent in the 1Q24 from 12.7 per cent in the 1Q23. Steppe Cement sold 175,383t of cement, representing a 18.4 per cent drop when compared with the 1Q23 when sales volumes stood at 214,832t. The average price received by the cement producer fell 6.3 per cent to KZT21,545...

CNBM reports 10% YoY revenue drop

04 April 2024, Published under Cement News

CNBM has reported revenue of CNY210.2bn (US$29.1bn) in 2023, down 10.1 per cent on the previous year. This was primarily attributed to a fall in the group’s basic building materials segment, which was partially offset by an increase in revenue in its engineering technical services segment and an uptick in its new materials segment. Profit attributable to equity holders of the company contracted 52.5 per cent over the same period to CNY3.86bn, while EBITDA declined 14.3 per cent to CNY33.8b...

Huaxin Cement net income picks up in 2023

02 April 2024, Published under Cement News

China-based Huaxin Cement posted revenues of CNY33.8bn (US$4.671bn) in 2023, up 11 per cent when compared with the previous year. Net income edged up by 2.3 per cent YoY to CNY2.76bn in 2023, but the company’s profit margin slipped to 8.2 per cent from 8.9 per cent as the company saw an increase in expenses. Earnings per share (EPS) increased to CNY1.33 in 2023 from CNY1.30 in 2022. While the company’s revenue was in line with analyst predictions, EPS missed analyst estimates by one per...

Southeast Cement sees 2% YoY revenue increase

29 March 2024, Published under Cement News

Taiwan-based Southeast Cement has reported revenue of TWD2.27bn (US$70.88m), up two per cent on the previous year. Net income in 2023 came in at TWD149.5m, on a par with 2022, while the profit margin declined from 8.3 per cent in 2022 to 6.6 per cent the following year, reportedly driven by increased expenses. Basic earnings per share from continuing operations in 2023 stood at TWD0.26, unchanged from 2022.  In the fourth quarter of 2023, ended 31 December, the company recorded total r...

Cemento Polpaico reports CLP4722.8m loss in 2023

28 March 2024, Published under Cement News

Chile-based Cemento Polpaico SA , part of the Hurtado Vicuña Group , posted a loss of CLP4722.8m (US$4.81m) in 2023, compared with a CLP3921m profit in 2022. Revenues fell 7.4 per cent YoY to CLP341140m from CLP368390m. The company sold 1,637,770t of cement in 2023, down 19.3 per cent than the equivalent period in 2022. Concrete sales decreased by 19.7 per cent YoY to 2,560,238m 3 in 2023. Cemento Polpaico started a corporate and operational reorganisation, including its subsidiaries, ...

CEMEX sets the pace in 2023

25 March 2024, Published under Cement News

CEMEX has released its Integrated Report, entitled 'Setting the Pace', which outlines the company’s strategic vision, operational performance, and value creation in 2023. Last year saw CEMEX achieve record growth in EBITDA and make significant progress in its decarbonisation efforts, reducing Scope 1 and 2 CO 2 emissions by 13 and 12 per cent, respectively, since 2020. This comes as the company launches its ‘Regenera’ waste management business globally, as part of its Urbanisation Solutio...

Northern Region Cement reports 50% drop in net profit in 2023

25 March 2024, Published under Cement News

Saudi Arabia-based Northern Region Cement Co saw a 11.6 per cent increase in revenue to SAR689.55m in 2023 from SAR617.95m in 2022. However, net profits were down by 49.9 per cent YoY to SAR556.39 in 2023 from SAR112.45m. In the nine-month period ended on 30 September 2023, the net profits after zakat and tax reached SAR64.7m, down 14.6 per cent YoY from SAR75.72m.

Votorantim Cimentos announces a 123% increase in net profit in 2023

22 March 2024, Published under Cement News

Votorantim Cimentos has reported a 123 per cent growth in net profit in 2023 to BRL2.6bn (US$522.7m), from BRL1.2bn in 2022. The company’s consolidated global net revenue was BRL27.7bn, increasing three per cent YoY from BRL30bn in 2022. This growth in revenue was due to advantageous market dynamics in North America, Europe, Asia and Africa. In Brazil, where the company is based, total sales amounted to 37Mta, increasing marginally from 2022. Global CEO of Votorantim Cimentos, Osvaldo A...