Cement News tagged under: business results
Eastern Province Cement sees revenue jump 28% YoY08 May 2024, Published under Cement NewsEastern Province Cement Co has posted net income of SAR68m (US$18.13m) in the opening quarter of 2024, up 21.4 per cent YoY. Cement sales over the three-month period came in at 630,000t, on a par with the same period a year earlier but up seven per cent on the 4Q23. Selling prices averaged above SAR300(US$80)/t for the second consecutive quarter, reports Aljazira Capital. Revenue for the quarter stood at SAR302m, marking a 27.6 per cent expansion on the 1Q23, driven by improved revenue... |
Vulcan Materials posts fall in revenues in 1Q2408 May 2024, Published under Cement NewsUS-based Vulcan Materials has reported total revenue of US$1546m in the first quarter of 2024, down from US$1649m in the same period a year earlier. Gross profit in the 1Q came in at US$305m (1Q23: US$302m) while adjusted EBITDA stood at US$323m (1Q23: US$338m). Commenting on the results, Tom Hill, Vulcan Materials' chairman and CEO, said, "Our teams' solid execution helped us overcome challenging weather conditions throughout much of the first quarter. Margins expanded despite lowe... |
Heidelberg Materials sees revenue dip 8% YoY in 1Q2407 May 2024, Published under Cement NewsHeidelberg Materials has reported an eight per cent YoY decline in revenue to EUR4488m in the opening quarter of 2024. According to the company, the fall was the result of lower sales volumes due to poor weather conditions in key regions and a reduced number of working days in the quarter, although these factors were partially offset by positive price momentum in the individual core markets. The result from current operations before depreciation and amortisation (RCOBD) over the first quar... |
Birla Corp reports 127% jump in net profit07 May 2024, Published under Cement NewsBirla Corp has continued its steady progress of the first three quarters of fiscal 2023-24 to end the year on a high, with record cement sales by volume and a 127 per cent growth in net profit in the March quarter, despite unusually weak market conditions. After steadily ramping up the Mukutban unit, the company’s cement division achieved a capacity utilisation rate of 97 per cent for the March quarter, marking yet another milestone. Consolidated net profit for the March quarter came i... |
Orient Cement posts INR682 4Q net profit03 May 2024, Published under Cement NewsCK Birla Group subsidiary Orient Cement Ltd reported a 1.4 per cent uptick in revenue from operations to INR8.88bn in January-March 2024 when compared with the equivalent quarter of the previous year, when revenue reached INR8.76bn. Total expenses rose marginally to INR7.855bn. The company's net profit edged up by 1.2 per cent YoY to INR681.9m in the 4QFY23-24 from INR673.7m in the year-ago period. For the financial year ended 31 March 2024, Orient Cement's profit increased 42.4 per c... |
Ambuja Cements announces record results02 May 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has reported record-breaking financial results for the 4QFY23-24 as well as the full year, ended 31 March 2024. According to the company, the strong performance has been driven by improved KPIs in all operational parameters. The 4QFY23-24 saw consolidated sales volumes of cement and clinker of 16.6Mt, compared to 14.1Mt in the same period a year earlier. Consolidated revenue came in at INR88,940m (US$1.065bn), versus INR79,660m in the comparab... |
BUA Cement reports revenue growth in 1Q2402 May 2024, Published under Cement NewsNigeria-based BUA Cement has released its unaudited financial statements for the three months ended 31 March 2024. The company has posted revenue of NGN161,131m (US$114.4m) over the three-month period, compared to NGN106,352m in the same period a year earlier. Operating profit came in at NGN33,476m, down from NGN38,387m in the year-ago period, while profit after tax fell from NGN26,800m in the three months ended 31 March 2023 to NGN17,969m in the same period in 2024. Basic earnings per ... |
CEMEX upgraded by Fitch Ratings02 May 2024, Published under Cement NewsCEMEX has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings. This follows S&P Global Ratings’ upgrade announced in March 2024. “Achieving investment grade is a milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “This rating is confirmation of both our strategy and our execution against it. By optimizing our cost of capital, it also serves as the foundation for increased financial flexibility going forward to address our... |
Vicat sees 8% like-for-like advance in 1Q sales01 May 2024, Published under Cement NewsVicat reported a 1.2 per cent YoY (+7.9 per cent like for like (lfl)) uptick in consolidated sales to EUR911m in the first quarter of 2024 from EUR899m in the 1Q23. The company attributes the positive results to 4.1 per cent increase in cement volumes to 6.9Mt, a 5.4 per cent advance in concrete volumes to 2.2Mm3 and a still resilient pricing environment in most markets with a favourable cost/price differential. “The Vicat Group enters 2024 with organic growth of nearly eight per cent, dri... |
Huaxin Cement sees revenue advance 7% YoY01 May 2024, Published under Cement NewsHuaxin Cement has posted revenue of CNY7.08bn (US$977m) in the first quarter of 2024, ended 31 March, up 6.9 per cent on the same period a year earlier. Net income over the same timeframe declined 28 per cent to CNY177.5bn. Meanwhile, the profit margin fell from 3.7 per cent in the 1Q23 to 2.5 per cent in the 1Q24, reportedly driven by higher expenses. Earnings per share in the 1Q24 stood at CNY0.09, down from CNY0.12 in the year ago period. According to Simply Wall St, revenue exce... |