Boral's Australian cement turnover declines

Boral's turnover for the six months to the end of December declined by 4.6 per cent to AUD2093m (EUR1497m), largely reflecting the transfer of US Bricks to joint venture status and the completion of two LNG projects as well as the decline in Western Australia.

EBITDA improved by 3.5 per cent to AUD333m (EUR238m) while the trading profit advanced by 5.5 per cent to AUD211m (EUR151m). After a net interest charge 12.9 per cent lower at AUD27m (EUR19m) the pretax profit improved by 8.9 per cent to AUD184m (EUR132m) and the net attributable profit emerged at AUD153m (EUR109m). Capital expenditure in the period was 25.2 per cent higher at AUD144m (EUR103m).

Boral Australia’s turnover declined by 3.9 per cent to AUD1616m (EUR1156m), while EBITDA was off by 0.8 per cent to AUD264m (EUR189m). Cement represented a turnover some four per cent lower at AUD154m (EUR110m) while turnover in concrete was off by three per cent to AUD687m (EUR491m), in asphalt by six per cent to AUD300m (EUR215m) and in aggregates it improved by two per cent to AUD210m (EUR150m). Cement volumes increased by three per cent, with prices increasing by one per cent in bulk cement and by three per cent in packaged products.

The gypsum joint venture with USG improved turnover by 2.4 per cent to AUD735m (EUR526m) and EBITDA rose by 18 per cent to AUD151m. The strongest performances were seen in Australia and Korea, with volumes also being ahead in Indonesia, while being stable in Thailand and lower in China.

Boral USA saw turnover decline by 9.9 per cent to AUD410m (EUR293m), but EBITDA rose by some 51 per cent to AUD33m while the trading profit rose from zero to AUD10m. The brick operations were put into a joint venture in November and revenue drew in cladding, siding and roof tiles but declined in fly ash.