Cement News tagged under: business results

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Huaxin Cement reports 65% fall in 1Q20 profit

29 April 2020, Published under Cement News

China’s Huaxin Cement has reported a 65 per cent YoY decline in net profit to CNY354.1m (US$50.06m) for the first quarter of 2020, according to Reuters. However, the company had posted a 22.4 per cent YoY rise in net profit to CNY6.3bn for the full-year 2019 period.

FLSmidth's interim 1Q20 report sees COVID-19 impact business results

28 April 2020, Published under Cement News

FLSmidth reports that the COVID-19 pandemic is intensifying the cement industry's apprehensiveness to start large capital investments, but producers in both mining and cement are increasingly looking at digitalised solutions, driven by the restrictions of on-site services. Cement service order intake was stable in 1Q20 compared to 1Q19, but total cement order intake declined 50 per cent, due to hesitation on capital investments and the absence of large project orders. Order intake for ceme...

Hoffmann Green Cement Technologies sees turnover up in 2019

28 April 2020, Published under Cement News

Hoffmann Green Cement Technologies (HGCT) saw a hike in its turnover to EUR0.62m in 2019 from EUR0.289m in 2018. The company’s EBITDA declined to EUR-1.846m while EBIT reached EUR-3.079m due to significantly-higher amortisation charges. Its operational result came to EUR-3.1m, mainly due a 20 per cent non-conversion premium of convertible bonds into shares, which was noted at the time of the company’s IPO. The company’s net income reached EUR-4.339m after taking into account a EUR1.9m tax pr...

HeidelbergCement Bangladesh profits hit by multiple factors

27 April 2020, Published under Cement News

HeidelbergCement Bangladesh posted an unaudited net profit of BDT43.5m (US$0.513m) for the first quarter of 2020, against earnings of BDT193m in the 1Q19. The fall in profit is attributed to an increase in cost of goods sold, alongside increased warehousing, distribution, selling and administrative expenses.   The total revenue, however, increased to BDT3.82bn from BDT3.61bn. The cost of sales stood at BDT3.374bn.   It also reported a higher distribution cost of BDT114.4m against BDT89m in s...

Mixed pattern in financial results visible in 9MFY20

27 April 2020, Published under Cement News

Three more Pakistani cement companies have announced their 9MFY19-20 financial results. Lucky Cement Ltd has reported a lower profit, while Maple Leaf Cement Factory Ltd (MLCF) and Bestway Cement Ltd have reported losses during this financial period. The obvious reason is attributed to increase in cost of sales alongside other unavoidable negative business factors.   Lucky Cement Lucky Cement reported that with the current economic challenges due to COVID-19 and post relaxation lockdown in...

Mixed results announced by Pakistani cement companies for 9MFY20

24 April 2020, Published under Cement News

Three Pakistani cement companies have announced their 9MFY19-20 financial results. DG Khan Cement Co Ltd and Kohat Cement Co Ltd have reported losses, but luckily Attock Cement Ltd has reported only a fall in profit during this financial period. Analysts have attributed losses to a combination of factors, including a significant drop in retention prices in both local and export markets, an increase in finance cost, higher energy tariffs and an increase in transportation cost following the i...

Umm Al Qura reports net profit surge in 1Q20

24 April 2020, Published under Cement News

Saudi Arabia’s Umm Al Qura has seen its net profit increase 79.1 per cent YoY to SAR38.5m (US$10.27m) in the first quarter of 2020, rising from SAR21.5m in the year-ago period. Quarterly sales surged 52 per cent to SAR96.5m from SAR63.5m. Average selling prices were also reported to have improved in the 1Q20.

Najran Cement Co reports positive 1Q20 results

24 April 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a 557.4 per cent surge in net profit to SAR40.1m (US$10.69m) in the first quarter of 2020, compared to SAR6.1m in the 1Q19. Sales advanced to SAR156.4m from SAR106.5m, on the back of a lower cost of sales and financing.

Baturaja Cement sales decreased 15% in 1Q20

24 April 2020, Published under Cement News

PT Semen Baturaja (Persero) Tbk experienced a downturn in cement sales in the first quarter of this year by 15 per cent. Semen Baturaja Corporate Secretary, Basthony Santri, stated that the decline in sales until March was due to the fall in cement demand due to several factors, one of which was the delay in a number of development projects in the southern Sumatra. "SMBR sales were down by 15 per cent, in line with the decline in cement demand in South Sumatra  which is the basis for the S...

CRH releases trading update

22 April 2020, Published under Cement News

CRH has released a trading update for the 1Q20, reporting a three per cent increase in like-for-like sales. In North America the company’s operations in Pennsylvania, New York City and Washington state have been the most impacted to-date by the COVID-19 pandemic, while its operations in the southeast, central and western US have been less affected, according to the update. Significantly lower activity levels have also been noted in Ontario and Quebec, as a result of government restrictions...