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Saint-Gobain sales fall slightly to Euro19.6bn in first half of 2016
Written by Global Gypsum staff
29 July 2016
France: Saint-Gobain's sales revenue has fallen by 1.6% year-on-year to Euro19.6bn in the first half of 2016 from Euro19.9bn in the same period of 2015. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 3.8% to Euro1.89bn from Euro1.96bn. The group blamed the loss in sales revenue on negative currency changes, especially in Latin American, and to a lesser extent, in the UK following its decision to leave the European Union. Saint-Gobain's Interior Solutions division, which includes gypsum wallboard and insulation production, reported a 3.1% rise in sales revenue to Euro3.3bn from Euro3.2bn.
"Saint-Gobain's sales for first-half 2016 confirm our February forecasts, with France stabilising and all regions making strong contribution to growth. Our strategy of investing in emerging markets provides us with a diversified platform for profitable growth. Our first-half results also benefited from efforts to optimise our operations, particularly in Western Europe, and from upbeat trading in the US. The results are in line with our objectives and we expect alike-for-like improvement in operating income for second-half 2016 versus second-half 2015. While the 23 June 2016 Brexit vote in the UK has created a climate of uncertainty, it does not affect our objectives," said Pierre-André de Chalendar, Chairman and Chief Executive Officer of Saint-Gobain.
USG sales rise by 5% to US$1.97bn in first half of 2016
Written by Global Gypsum staff
28 July 2016
US: USG's net sales have risen by 5% year-on-year to US$1.97bn in the first half of 2016 from US$1.90bn in the same period in 2015. The company's net income rose by 37% to US$141m from US$103m. Net sales for its overall gypsum business rose by 6% to US$1.27bn from US$1.19bn. However, net sales for its gypsum business in Mexico and Latin America fell by 3% to US$93m in the first half of 2016 from US$94m in the same period of 2015.
"Our focus on operational execution in all of our businesses drove our improved second quarter results," said James S Metcalf, Chairman, President, and CEO of USG. "Expanding operating margins is a key priority for USG, and we delivered margin expansion in all of our businesses in the second quarter."
National Gypsum Company second quarter net profit decreases
Written by Global Gypsum staff
26 July 2016
Saudi Arabia: National Gypsum Company has reported that its net profit fell by 64% year-on-year to US$1.5m in the first half of 2016, from US$4.2m in the same period in 2015. Its net profit for the second quarter of 2016 fell more sharply, dropping by 80% to US$573,000.
Eagle Materials wallboard sales drop slightly in first quarter
Written by Global Gypsum staff
26 July 2016
US: Eagle Materials' sales revenue from gypsum wallboard has fallen slightly by 1.6% year-on-year to US$113m in the first quarter of its 2017 financial year that ended on 30 June 2016 from US$115m in the same period in 2015. Overall company revenue rose by 1.5% to US$298m from US$285m. Gypsum wallboard sales volumes rose by 2% to 54Mm2 from 53Mm2.
Essar Projects wins US$44.7m contract from Indian Farmers Fertilizer Co-operative
Written by Global Gypsum staff
22 July 2016
India: Engineering company Essar Projects has won a US$44.7m contract from the Indian Farmers Fertilizer Co-operative (IFFCO) to build a phosphogypsum stack at its Paradip plant in Odisha, India's largest phosphatic fertiliser complex.
The project has two phases. Phase I, which is valued at about US$28m, involves completion of approximately 60% of the total construction and must be completed in 20 months. The second phase involves construction of the remaining 40% and will have to be completed in 10 months. Essar Projects has completed three projects for IFFCO Paradip to date.
"The fact that this is our fourth major back-to-back project with IFFCO, is a reflection of the customer's confidence in our capabilities. We are pleased to say that we have already delivered some key works of the current contract that had to be completed before the onset of the monsoon," said AV Amarnath, COO, Essar Projects.