Cement News tagged under: business results
GCC sees 11% rise in consolidated net sales for 1Q2030 April 2020, Published under Cement NewsMexico’s Grupo de Cemento de Chihuahua (GCC) has announced an 11 per cent increase in consolidated net sales to US$181.4m for the first quarter of 2020. EBITDA also advanced 18.4 per cent YoY to US$45.3m from US$38.3m, with the EBITDA margin rising to 25 per cent from 23.4 per cent. "Both our divisions delivered strong results in the first quarter of the year, as the economic impacts of the pandemic weren't fully realised until late in the quarter. All of our operations are running at a st... |
Qizilqumsement reports 78% surge in net profit30 April 2020, Published under Cement NewsUzbekistan’s Qizilqumsement, the country’s largest producer, reported a 78.3 per cent increase in net profit to US$6.8m in the first quarter of 2020, according to Trend News. Net revenue advanced 16.7 per cent YoY to US$43.4m in the 1Q20, while gross profit was up 6.8 per cent to US$14.4m. |
Caribbean Cement reports 2% revenue increase30 April 2020, Published under Cement NewsJamaica-based Caribbean Cement reported a modest two per cent YoY improvement in revenue to JMD4.54bn (US$33.49m) for the first quarter of 2020. However, overall consolidated net income decreased 57 per cent YoY to JMD500m. The company also noted that it had implemented protocols to protect employees while also serving requirements and protecting cash flows during the COVID-19 pandemic. "We are following government regulations, while working to minimise, as much as possible, the impact o... |
Coal and crude prices beneficial for cement industry, says DG Khan Cement29 April 2020, Published under Cement NewsTwo of DG Khan Cement's senior management, Raza Mansha, CEO, and Farid Noor Ali Fazal, director, commented that falling coal and crude prices in international markets would reduce the cost of cement production in Pakistan, according to the company's 9MFY20 report. They also anticipate a rise in cement demand on the back of government big hydroelectric dam projects. According to the report, coal prices will remain low and may ease pressure on cost. Oil prices have hit rock bottom and are exp... |
Ambuja Cements has seen a 7% increase in net profit29 April 2020, Published under Cement NewsIndia’s Ambuja Cements has seen a 6.8 per cent increase in its consolidated net profit to INR7.43bn (US$97.5m) for the first quarter of 2020, compared to INR6.95bn in the year-ago period. However, revenue from operations declined 8.5 per cent YoY to INR62.5bn in the 1Q20, following a decline in volumes due to the country’s lockdown status. On a standalone basis, Ambuja Cements saw a 6.5 per cent YoY fall in first-quarter net profit to INR3.99bn from INR4.27bn. Revenue from operations w... |
Huaxin Cement reports 65% fall in 1Q20 profit29 April 2020, Published under Cement NewsChina’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 results28 April 2020, Published under Cement NewsFLSmidth 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 201928 April 2020, Published under Cement NewsHoffmann 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 factors27 April 2020, Published under Cement NewsHeidelbergCement 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 9MFY2027 April 2020, Published under Cement NewsThree 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... |