Western Cement released its annual results for the year ended December 31, 2022. The Group achieved revenue of RMB8.489 billion (the same below), representing a year-on-year increase of 6.1%; Profit attributable to owners of the Company was RMB1,215 million, representing a decrease of 23.4% as compared to the same period last year. Basic earnings per share was 22.4 cents, and a final dividend of 6.7 cents per share was proposed.
During the year, the sales volume of cement decreased by 7.0% from approximately 19.9 million tonnes to approximately 18.5 million tonnes. Total sales volume for the year ending 31 December 2022, including sales of clinker , was approximately 19.3 million tonnes, compared to 20.3 million tonnes in 2021.
Overall cement prices increased compared to 2021, resulting in an increase in revenue. The average selling price of cement for the year ending December 31, 2022 was 355 yuan per ton, compared to 339 yuan per ton in 2021.
In addition to the increase in revenue from sales of cement as mentioned above, for the year ending 31 December 2022, the revenue from sales of aggregates and commercial concrete increased by approximately 52.5% to 2.36 yuan due to the increase in both average selling price and sales volume, and increased by approximately 24.1% to 709 million yuan due to the increase in sales volume.
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