Cement News tagged under: business results
S&P upgrades CEMEX investment grade15 May 2024, Published under Cement NewsRating agency Standard & Poor’s (S&P) has upgraded CEMEX ’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy and flexible capital allocation. “Achieving an investment-grade credit rating from S&P is a very important milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “While we had record results last year, this rating is recognition of successful execution against our medium-term ... |
Hail Cement sees 19% drop in 1Q net profit15 May 2024, Published under Cement NewsHail Cement posted 1Q24 sales of SAR73.8m (US$19.7m), up by 19.2 per cent when compared with SAR61.9m in the 1Q23. The company’s gross profit declined by 11 per cent to SAR20.1m in the 1Q24 from SAR22.6m in the year-ago period. The operational profit saw a 18.5 per cent drop to SAR13.1m from SAR16.1m over the same period. Net profit fell 18.9 per cent to SAR15m in the 1Q24 from SAR18.5m in the 1Q23. Hail Cement attributed the drop in net profit to an increase in the cost of sales, zaka... |
Saudi Cement posts SAR113.8m net profit in 1Q2414 May 2024, Published under Cement NewsSaudi Cement Co reported a net profit of SAR113.8m (US$30.3m) in the 1Q24, representing a 8.1 per cent drop YoY from SAR123.8m but a QoQ increase of 9.6 per cent from SAR103.80m in the 4Q23. Revenue improved 4.1 per cent YoY to SAR426.5m in the 1Q24 from SAR409.6m in the 1Q23. Compared with the 4Q23, sales were up 12 per cent YoY. Earnings per share slipped to SAR0.74 at the end of March 2024 from SAR0.81 in the same period last year. |
Yanbu Cement posts 14% increase in net profit13 May 2024, Published under Cement NewsYanbu Cement Co reported a 14.3 per cent YoY increase in net profit to SAR58.31m (US$15.5m) in the 1Q24 from SAR51.01m in the 1Q23. The company attributed the rise in profit to an increase in both volume and value of sales in addition to other revenues, according to a bourse filing. Sales edged up by 4.5 per cent YoY to SAR234.17m in the 1Q24 from SAR224.01m. Earnings per share increased to SAR0.37 as of 31 March 2024 from SAR0.32m in the year-ago period. |
JK Cement sees revenue rise in March quarter13 May 2024, Published under Cement NewsIndia-based JK Cement has reported total income of INR29,820.3m (US$357m) in the quarter ended 31 March 2024, compared to INR27,006.7m in the same quarter a year earlier. Profit after tax over the same period advanced from INR1393.6m to INR2359.5m, while basic earnings per share improved from INR18.04 to INR30.54. Total expenses increased from INR25,102.8m in the three months ended 31 March 2023 to INR26,332.5m in the same period a year later, mainly driven by higher purchases of stock ... |
Cementir's 1Q24 regional market update13 May 2024, Published under Cement NewsCementir's results for the 1Q24 were overall in line with management's expectations despite the decline in revenues and EBITDA compared to the first quarter of the previous year. The company reported regional growth in Turkish cement sales and Belgian ready-mix sales. Turkey Cement sales volumes increased by 22 per cent compared to the 1Q23 in the domestic market, where the most significant growth was recorded in the Elazig and Kars regions of Eastern Anatolia, supported by post-earthq... |
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... |