Weak performance in Brazil helped to drag Votorantim’s earnings down year-on-year in 3Q17, despite positive results from elsewhere.
The latest cement news
Lafarge Africa Plc has partnered with Canaancity Consortium, which is developing a number of estates in Nigeria, to offer construction-related health and safety training.
Kansas-based materials handling specialist, Vortex, is celebrating four decades of business, after its founding by Loren Neil Paterson and Lee Young in 1977.
Cemex USA has opened its third cement operation in Colorado: a new rail-linked distribution terminal in Commerce City to serve the Denver Metro area.
While the US Supreme Court considers the 2015 WOTUS rule jurisdiction, the White House is reviewing a proposed amendment.
The fourth wettest quarter in 123 years in Texas provided a challenging backdrop for Martin Marietta’s cement business.
Cementir continued to reap the benefit of acquisitions made last year, announcing cement sales up 26.2% in 3Q17.
HeidelbergCement saw cement and clinker sales up 2% in 3Q17 on positive reports from all geographies except North and East Europe and Central Asia.
The British Marine Aggregate Producers Association and The Crown Estate have published new guidance on marine aggregate extraction.
The additional business acquired with the Fairborn cement plant last year saw Eagle Materials’ cement business achieve record earnings in 3Q17, despite weather-related disruption in its other markets.
Titan Group faced extreme weather in the US and challenging markets elsewhere in 3Q17, but remains positive over the year to date on US growth.
Votorantim reported a year-on-year fall in earnings in 3Q17 on the back of poor performance from the company’s Brazilian business. Other areas faired more positively but failed to offset the weakness in the company’s home market.
Earnings stood at BRL521 million in 3Q17, a 27.1% drop on the same period last year, driven by a 45.4% fall in like-for-like earnings in Brazil. The weakness in the Brazilian market was exacerbated by a BRL143 million tax adjustment.
In contrast, Votorantim’s North American reported a 12.7% increase in earnings on strong market positioning and operational efficiency in both Canada and the UK. In Europe, Asia and Africa, Votorantim reported a 13.7% increase in earnings on the back of strong results in Morocco, higher sales volumes in Turkey, and an upturn in India and China.
The stand-out performance came in the company’s Latin American business, where earnings rose by 63.8% year on year due to the ramp-up and better-than-expected operational performance of its Bolivian plant. Sales volumes from the plant were “considerably higher,” the company said “due to an increased local market share in Bolivia, and exports to Argentina”.
Exports from Votorantim’s Uruguayan plant also saw increased exports to Argentine.