Cement News tagged: Corporate
Sanghi Industries reports loss of income in June quarter
Sanghi Industries Ltd has posted total income of INR1702m (US$20.46m) in the quarter ended 30 June 2023. This compares to INR2270m in the previous quarter and INR3448.5m in the same quarter in 2022. The company has reported a loss of INR1894.3m in the April-June 2023 quarter, compared to an INR328.7m loss in the same period in the previous year. Expenses over the same timeframe have decli...
City Cement revenue falls 13% YoY in 2Q23
Saudi Arabia’s City Cement has posted revenue of SAR77.8m in the second quarter of 2023, down 13 per cent YoY. Net income over the same period fell 2.2 per cent to SAR24.3m, while the profit margin came in at 31 per cent, up from the 28 per cent seen in the second quarter of 2022. The increase in margin was reportedly driven by lower expenses. Earnings per share in the 2Q23 stood at SAR0.17,...
Al Jouf Cement reports 41% YoY increase in revenue
Al Jouf Cement has reported revenue of SAR138.23m in the first half of 2023, marking a 40.6 per cent increase compared to the same period a year earlier. Net profit over the same period improved from SAR1.8m to SAR43.6m, driven by an increase in volumes and average selling prices. Earnings per share advanced from SAR0.02 in the 1H22 to SAR0.40 in the corresponding period the following year. ...
Votorantim Cimentos reports BRL470m net profit in 2Q23
Votorantim Cimentos ended the 2Q23 with BRL470m net profit, a 28 per cent increase compared to BRL366m (US$74.68m) in the same period last year. The company’s global net revenue in the quarter was BRL6.9bn, an increase of three per cent compared to the 2Q22, primarily due to the volume added by the Málaga plant in southern Spain acquired in November 2022. The company’s global cement sales i...
Boral reports 17% YoY jump in revenue in FY23
Australia-based Boral has reported a 17 per cent YoY increase in revenue to AUD3460.6m (US$2267m) in the fiscal year ended 30 June 2023 (FY23). EBITDA over the same period advanced 38 per cent to AUD454.4m, while the EBITDA margin improved 196bps to 13.1 per cent. Boral’s underlying net profit after tax came in at AUD142.7m, up 304.2 per cent YoY, with adjusted earnings per share of 12.9c, a...
UltraTech Chairman sets new capacity goal at AGM
In FY22-23 UltraTech Cement recorded net revenues of US$7.9bn (INR632,400m) and an EBITDA of US$1.4bn (INR111,230m). FY22-23 marked significant milestones for UltraTech as the first Indian cement company to record over 100Mt sales volume in a fiscal year. UltraTech has doubled its grey cement production capacity from 66.3Mta production capacity in FY15-16 to 132.4Mta in FY22-23. The...
BUA invests in technology to lower costs
BUA Cement has announced plans to invest in state-of-the-art technologies in a bid to reduce operating costs after reporting a 20 per cent increase in the cost of sales in the first half of 2023. According to the company, the increase was due to higher raw materials costs, energy costs, depreciation charges, and repair and maintenance costs. The Nigeria-based company has already invested ...
Grasim Industries sees revenue improve 11%
Grasim Industries, which owns UltraTech Cement , has reported revenue of INR310,650m (US$3753m) in the quarter ended 30 June 2023, marking an 11 per cent improvement YoY. Net profit over the same period declined seven per cent to INR25,760m due to higher operational costs and lower realisation. The company has recently launched Birla Pivot, a full-scale B2B e-commerce platform for building...
Ciments de Bizerte sees 21% drop in 2Q sales revenue
Tunisia-based Société Les Ciments de Bizerte reported a 20.9 per cent fall in total sales to TND24,494,717 (US$7.011m) in the second quarter of 2023 from TND30,961,761 in the 2Q22. All sales were within Tunisia due to a halt in exports due to a lack of competitiveness following a surge in energy costs. Compared with the 2Q22, domestic revenues were down 6.9 per cent from TND26,310,909, follo...
Argos reports a 26% EBITDA growth in 1H23
Argos (Group Argos) had a solid operating period in the 1H23 recording an EBITDA of US$278m, an increase of 26 per cent and a sales rise of eight per cent or US$1.5bn. During the accounting period, Argos shipped 7.9Mt of cement, a contraction of 2.7 per cent when compared with the 1H22 and 3.5Mm 3 of concrete, down 6.5 per cent on the 1H23. This was caused mainly by the higher number of ...
Bestway Cement earns a rising profit of PKR11.89bn in FY22-23
Bestway Cement in Pakistan has earned a rising profit of PKR11.89bn (US$41.39m) for the FY22-23 (July 2022-June 2023) against a net profit of PRK10.23bn reported in the same financial period of 2022 – a YoY growth of 13.6 per cent, according to the company’s financial results posted on Pakistan Stock Exchange (PSX) on 8 August. The higher profit was possible due to increased gross sales/...
Burnpur Cement profits hit by higher costs
India-based Burnpur Cement Ltd has reported total income from operations of INR497.2m (US$6m) in the quarter ended 30 June 2023. This compares to INR469.7m in the previous quarter and INR312.9m in the same quarter a year earlier. The company recorded a loss from continuing operations of INR183.5m in the June 2023 quarter, versus a loss of INR118.9m in the previous quarter, and INR179.2m see...
Mangalam Cement reports fall in revenue
Mangalam Cement Ltd , part of BK Birla Group, has reported revenue from operations of INR4205.3m (US$50.8m) in the quarter ended 30 June 2023. This compares to INR4593.3m in the previous quarter and INR5138m in the same quarter a year earlier. Net profit in the June 2023 quarter came in at INR83.6m, up from the INR42.8m recorded in the previous quarter, but down from the INR158.8m seen in the...
Lucky Cement earned a net profit of PKR13.7bn in FY22-23
Lucky Cement earned an after-tax profit of PKR13.7bn (US$47,687m) in FY22-23 as compared to PKR15.3bn reported last year, mainly on account of higher tax charges because of the levy of super tax at 10 per cent on a perpetual basis in the Finance Act 2023. Lucky informed the Pakistan Stock Exchange (PSX) that its gross sales revenue increased by 15.9 per cent compared to last year. Althou...
Ecocem to build limestone filler plant in Dunkirk
Ecocem France and Carrières du Boulonnais (CB Green group) have created a joint venture to build a filler grinding unit. The new plant will produce 600,000tpa of limestone filler that will partly replace clinker in the composition of cement to decarbonise its product line. The unit will be built near the Ecocem site at Port l'Ouest, Dunkirk. The joint venture is gradually expected to...
Mining sector dominates FLSmidth 1Q23 results
FLSmidth has reported group revenue of DKK6016m (US$886.6m) in the first quarter of 2023, up 27.8 per cent from the DKK4706m recorded in the 1Q22. Group EBITA over the same period declined 22.2 per cent to DKK235m, compared to DKK302m in the 1Q22. Group profit in the 1Q23 stood at DKK84m, down from DKK123m in the 1Q22. Group order intake for the three-month period was DKK5632m, a contraction f...