Cement News tagged under: business results
Profit margins under pressure20 November 2023, Published under Cement NewsIn 2022 cement company profit margins came under pressure, particularly when compared with the previous year. Dr Michael Clark takes a closer look at cement company profit margins in 2022 and 2023, the factors that affect them and how to protect profits in a changing world. By Dr Michael Clark, UK. Figure 1: comparison of gross margins in 2021 vs 2022 (©Dr Michael Clark) When compared to cement company profits in 2021, the profits in 2022 came under pressure. Whitehopleman’s... |
Hume Cement sees return to profit in 1QFY23-2417 November 2023, Published under Cement NewsMalaysia-based Hume Cement reported a MYR48.33m net profit for the 1QFY23-24, ended 30 September 2023 versus a net loss of MYR12.04m in the year-ago period. Revenues advanced to MYR306.66m in the 1QFY23-24 from MYR206.79m in the 1QFY22-23. The increase was attributed to a revision in the selling price of cement to help offset the rise in energy costs and the higher cement sales volume as the construction sector recovered. Looking ahead, the company forecasts the construction sector to co... |
Martin Marietta posts improved 3Q results06 November 2023, Published under Cement NewsMartin Marietta Materials Inc posted total revenues of US$1994.1m in the 3Q23, up 10.1 per cent YoY from US$1811.7m. Gross profit improved 38.6 per cent YoY to US$676m in the 3Q23 from US$487.8m. Net earnings from continuing operations saw a 47.8 per cent YoY increase to US$430.3m from US$291.2m in the year-ago period while adjusted EBITDA improved 32.2 per cent YoY to US$705.2m from US$533.1m. Martin Marietta’s Building Materials business generated record revenues of US$1.9bn, up 10.5 p... |
Saudi Cement sees drop in 3Q profit06 November 2023, Published under Cement NewsSaudi Cement Co reported a 15.4 per cent drop in quarterly net profit after tax and zakat to SAR68.3m (US$18.2M) in the 3Q23 when compared with the year-ago period when net profit reached SAR80.7m. Sales in the 3Q23 fell four per cent YoY to SAR315m to SAR328.1m, due to a drop in volumes and price of local sales. Selling and distribution expenses as well as general and administrative expenses increased. Financial charges were also higher. |
Kakatiya Cement returns to black in 2QFY23-2406 November 2023, Published under Cement NewsIndia-based Kakatiya Cement Sugar & Industries reported a standalone net profit of INR18m in the 2QFY23-24 when compared to a net loss of INR49.9m in the year-ago period. Operating income increased by 107.3 per cent to INR5.3m in the 2QFY23-24 from an operating loss of INR72.8m. Operating expenses during the 2Q fell by 9.2 per cent YoY to INR372m from INR409.7m in the previous year’s equivalent period. Net revenue increased by 12 per cent to INR377.3m when compared with INR336.9m in the ... |
Indonesia’s increased 9M23 demand sees positive results for key producers03 November 2023, Published under Cement NewsIndonesian cement consumption increased 4.4 per cent YoY and 2.7 per cent MoM to 6.12Mt in October 2023, as infrastructure projects in Sumatra were completed and work progressed on the Indonesian National Capital (IKN) project in Kalimantan, according to the Indonesian Cement Association (ASI). In the first nine months of 2023, demand reached 45.3Mt. PT Semen Indonesia Tbk and Indocement Tunggal Prakarsa Tbk increased their market shares to 52.2 and 27.7 per cent, respectively. Semen... |
Umm Al Qura Cement and City Cement see fall in profit03 November 2023, Published under Cement NewsSaudi-Arabia-based Umm Al Qura Cement Co reported net profits of SAR1.44m (US$0.38m), representing a 76.4 per cent drop YoY from SAR6.12m in the third quarter of 2023. Revenues decreased by 38.2 per cent YoY to SAR33.51m from SAR54.2m in the 3Q23. In the first nine months of 2023 the company posted net profits of SAR10.05m, down 65.7 per cent YoY from SAR29.3m. Revenues fell by 33.9 per cent to SAR118.5m in the 9M23 from SAR179.29m in the 9M22. Meanwhile, City Cement Co saw its net pr... |
Ambuja Cement reports quadrupling 2Q profit02 November 2023, Published under Cement NewsAmbuja Cements , part of Adani Cement Industries , saw profit quadruple in the 2QFY23-24 to INR6440m (US$77.4m) from INR1390m in the year-ago quarter. The company’s revenue advanced eight per cent YoY to INR39,700m in the 2QFY23-24 while cement and clinker sales volumes advance seven per cent to 7.6Mt. Ambuja Cements saw its expenses decline by two per cent YoY with fuel costs down by nearly a third. As a result, EBITDA improved by nearly 150 per cent to INR7740m and the EBITDA margin ... |
India Cements narrows 2Q loss02 November 2023, Published under Cement NewsThe India Cements Ltd reported a lower net loss of INR810m (US$9.7m) in the 2QFY23-24 compared with a net loss of INR1380m in the year-ago period. EBITDTA for the 2QFY23-24 reached INR140m vs -INR870m in the 2QFY22-23, with the company seeing a net profit for the coming quarters, as price realisations improve and cost pressures soften. Total income slipped 2.5 per cent to INR12.28bn in the 2QFY23-24 from INR12.59bn in the year-ago period. Cement volumes increased 5.1 per cent to 2.37Mt i... |
Caribbean Cement sees 58% rise in 3Q net income01 November 2023, Published under Cement NewsJamaica’s Caribbean Cement Co , part of the TCL Group , reported revenues of JMD7bn (US$45.4m) in the third quarter of 2023, up 13.4 per cent YoY from JMD6.2bn. Operating earnings rose by 36.8 per cent to JMD2.6bn in the 3Q23 from JMD1.9bn as revenue increased and costs were contained due to a drive in operational efficiency. The company’s consolidated net income increased by 58.3 per cent from JMD1.2bn in the 3Q22 to JMD1.9bn in the 3Q23. |