Cement News tagged under: business results

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GCC reports favourable performance in 4Q21 and 2021

27 January 2022, Published under Cement News

GCC reported a 10.9 per cent YoY advance in consolidated net sales to US$257.9m in the fourth quarter of 2021. EBITDA remained stable at US$83.1m with an 31.5 per cent EBITDA margin. Total cement volumes in the US grew by 5.1 per cent, but excluding oil well cement, they fell 5.5 per cent when compared with the 4Q20. Consolidated sales were further supported by a rise in US cement and ready-mix prices of 11.8 per cent and three per cent, respectively. In Mexico cement and ready-mix volum...

Ha Tien sees 65% drop in 4Q net profit

26 January 2022, Published under Cement News

Ha Tien 1 Cement JSC , in which Vietnam Cement Industry Corp holds a 79.7 per cent stake, reported a 65.4 per cent YoY fall in consolidated net profit to VND53.32bn (US$2.3m) in the 4Q21 due to a decrease in gross profit. The company’s net profit during the quarter declined 8.5 per cent YoY to VND2.02trn. In 2021 the company saw a 39.1 per cent drop in consolidated net profit to VND369.86bn on a net revenue of VND7.06trn, down 11.3 per cent YoY.

Ramco Cements sees 59% fall in 3Q net profit

25 January 2022, Published under Cement News

India-based Ramco Cements Ltd reported a 59 per cent decrease in standalone profit after tax at INR830m for the quarter ended 31 December 2021 (3QFY21-22). In the 3QFY20-21 standalone profit after tax was INR2.01bn. Net revenues for the 3QFY21-22 expanded 16 per cent YoY to INR15.56bn from INR13.45bn in the 3QFY20-21, as cement sales volumes increased 15 per cent to 3.01Mt from 2.61Mt in the year-ago period. But the company said demand was weak due to a range of factors such as the monsoo...

UltraTech Cement consolidated net sales reach INR127.1bn in 3QFY22

18 January 2022, Published under Cement News

UltraTech Cement reports that its consolidated net sales was INR127.1bn (US$1.71bn) in the 3QFY22 when compared with INR121.4bn over the corresponding period of the previous year. Profit after tax jumped eight per cent to INR17.08bn from INR15.84bn. There is a one-time gain of INR5350m in tax for earlier years.  After gaining pace in October 2021, demand slowed substantially in November, 2021 as a result of the construction ban in the NCR, extended monsoons in the south and a few states...

Steppe Cement sees 16% hike in revenue in 2021

17 January 2022, Published under Cement News

Kazakh cement producer Steppe Cement saw its revenue increase 16 per cent to KZT36.02bn (US$82.7m) in 2021 as it sold 1,688,544t of cement, up from the 1,645,744t reported in 2020. The company’s domestic market share was 13.9 per cent. Exports fell by 57.2 per cent to 86,500t from 202,000t in 2020. In addition to increased sales volumes, the company was also able to benefit from a 13 per cent increase in average prices (ex-VAT) for delivered cement. In 2021 the average price was KZT21,332/...

Sika reports 17% growth in 2021

11 January 2022, Published under Cement News

Sika has recorded sales of CHF9.24bn in 2021 (EUR8.95bn), an YoY uptick of 17.1 per cent in local currencies and 17.3 per cent in CHF. The acquisition effect was two per cent and organic growth amounted to 15.1 per cent. Compared to 2019, the organic gain was 11.9 per cent. Despite lockdowns in a number of countries, Sika grew more strongly than the market in all regions in 2021 with a 16.1 per cent YoY growth in sales in the EMEA region (Europe, Middle East, Africa), 21 per cent growth in t...

InterCement sees light at the end of the tunnel

24 December 2021, Published under Cement News

Following InterCement Participações’s financial and management adjustment measures of the last two years, the cement producer is set to return to the markets in a leaner, healthier way. Between 2015-2018 the company, like other industry players, was hit in Brazil by falling cement demand and weighed down by high debts. “Many difficult decisions were made, but they made a lot of sense for the company,” Flávio Mendes Aidar, CEO of InterCement Participações, told Brazil-based business newsp...

Morocco's listed cement producers to end 2021 on positive note

16 December 2021, Published under Cement News

Cement producers listed on the Casablanca Stock Exchange are expected to end 2021 with net results up 30.1 per cent YoY, according to Ecofin Agency. The positive performance is driven by active real estate and construction sectors. Holcim Group and Ciments du Maroc posted favourable operating conditions despite the COVID-19 health crisis with combined consolidated sales of MAD8.7bn (US$939m) in the January-September 2021, compared to MAD7.4bn in the 9M20. Their combined domestic cement sale...

Taiwan's cement producers announce November results

10 December 2021, Published under Cement News

Taiwan Cement has posted a 1.5 per cent YoY decline in November revenue to TWD9.75bn (US$351.94m) against TWD9.9bn in the year-ago period. In the first 11 months of 2021, revenue stayed largely consistent at TWD96.22bn from TWD95.81bn. Asia Cement saw revenue up 13.4 per cent to TWD8.99bn from TWD7.92bn in November 2020, while revenue in the 11M21 climbed 14.8 per cent YoY to TWD80.25bn. Elsewhere, Chia Hsin Cement reported a 5.3 per cent YoY increase in revenue to TWD197.77m in November ...

CIMERWA posts a 7% revenue increase

10 December 2021, Published under Cement News

Rwanda's CIMERWA has registered an after-tax profit of RWF4.1bn (US$3.95m) for the year ended September 2021, up 115.8 per cent compared to RWF1.9bn in the previous year. Revenue also advanced seven per cent YoY to RWF67.3bn. “We have achieved strong financial results in the year ending 30 September 2021 despite the effects of various COVID-19 lockdowns during the period. This excellent performance was driven by growth in revenue as the business executed its route-to-market strategy so as ...