Cement News tagged under: business results
China: Anhui Conch profits down 29% for 1H201623 August 2016, Published under Cement NewsIn its trading statement for the first six months of 2016, Anhui Conch has reported that its net revenues fell one per cent YoY to CNY24bn (US$3.6bn), while profits slipped further, falling by 28.8 per cent to CNY3.4bn (US$506m). The company noted that while Chinese demand for cement continued to grow in the first half of 2016, intense competition and overcapacity had had a negative effect on profits. However, a 13.7 per cent fall in costs - driven by lower prices for raw material, power,... |
India Cements: 1Q16 EBITDA edges up to INR2.05bn19 August 2016, Published under Cement NewsIndia Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing has picked up in June and July, according N Srinivasan, India Cements' vice-chairman and MD. Durin... |
Germany: KHD suffers 1H16 revenue fall by 25.5%16 August 2016, Published under Cement NewsKHD's 1H16 revenue amounted to EUR66.6m, considerably lower than the figure for the previous year (EUR89.4m). Reasons for the decrease of 25.5 per cent are the relatively low order backlog at the beginning of the year, delays in project execution, reductions in order value and order intake that did not materialise in the 1H16. The gross profit for the first half-year was EUR-2.1m (previous year: EUR-10.5m). Cost of sales include EUR3.8m of idle capacity costs due to under-utilisation of ex... |
India: Shree Cement profits hit US$76m in 1QFY16-1715 August 2016, Published under Cement NewsIn its trading results for the first quarter of FY2016-17, Shree Cement has seen its profits improve to INR5.1bn (US$76m). This represents an increase of 388 per cent on the same period last year. Cement sector revenues rose by 51 per cent to INR22.9bn (US$342m). Declining power and fuel costs helped Shree’s bottom line. These fell by 21 per cent to INR3.3bn (US$49m). The company has also announced plans to expand its Aurangabad grinding unit from its current capacity of 3.6Mta to 5.6M... |
UAE: Fujairah Cement sees 48% drop in revenues15 August 2016, Published under Cement NewsFujairah Cement Industries saw its revenues fall by 48 per cent to AED164.2m in 1H16 from AED315m in 1H15. The UAE-based company saw its profit for the period ended 30 June 2016 more than halve from AED33.3m to AED16.5m. |
India: Birla Corporation sees Q1 cement profits rise 441%11 August 2016, Published under Cement NewsBirla Corporation has released its quarterly financial results for the three months to the end of June 2016. During this period, Birla’s profits from its cement operations rose by 441 per cent compared to those from a year earlier, standing at INR1.1bn (US$16.3m). Cement revenues were also up, albeit not as spectacularly. In 1QFY16-17 total revenues were INR8.3bn (US$125m), an increase of 17 per cent YoY. Cement volumes were also higher, with 2.17Mt dispatched as compared to the 1.96Mt... |
India: Prism Cement returns to profit for 1QFY16-1710 August 2016, Published under Cement NewsPrism Cement has announced its trading figures for the first quarter of the 2016-17 financial year, CNBC’s MoneyControl reports. In the three months to June the firm made a net profit of INR156.5m (US$2.3m) as compared to a loss of INR149m (US$2.2m) in the same period last year. Overall revenue was down by 0.6 per cent at INR14bn (US$211m), but expenses declined more rapidly, falling by 2.9 per cent to INR13.5bn (US$202m). Looking to the future, the company said: "While the near term d... |
China: Asia Cement reports 1H16 loss09 August 2016, Published under Cement NewsAsia Cement (China) has released trading figures for the half of 2016, which reveal that the company made a loss of CNY64.6m (US$9.7m) for the period, ET Net reports. In the same six months in 2015, the company had made a profit of CNY9.85m (US$1.5m). The loss comes on the back of revenues that were down seven per cent YoY to CNY2.8bn (US$420m). The fall in profitability was attributed to lower prices and increased costs in servicing US dollar-denominated debts. |
India: Mangalam Cement returns to profit with 1QFY16-17 results08 August 2016, Published under Cement NewsMangalam Cement, part of India’s Birla Group, has published its business results for the first quarter of FY16-17. These see the company return to profit after reporting a loss of INR205m (US$3m) in FY15-16. In the three months to June 2016, Mangalam Cement made a profit of INR226m (US$3.4m) as compared to an INR205m (US$2.8m) loss in the same period last year. Total revenues were up by 5.5 per cent to INR2.25bn (US$33.7m), while expenses were down by 17 per cent to INR1.86bn (US$27.9m). |
LafargeHolcim 2Q16 results05 August 2016, Published under Cement NewsLafargeHolcim released its second quarterly results today, which reported net sales of CHF7.28bn (US$7.47bn). Adjusted operating EBITDA (excluding merger, restructuring and other one-offs) increased six per cent like-for-like in the quarter to CHF1.7bn (US$1.75bn). Net income increased CHF318m (US$326.5m) to CHF452m (US$464m) for the first half of the year and the group's annual divestment target of CHF3.5bn (US$3.59bn) was exceeded. CEO of LafargeHolcim, Eric Olsen, said, “Our focus on p... |