China Tianrui Cement released its annual results for the year ended December 31, 2023, and the Group achieved revenue of RMB 7.889 billion (the same unit below), a decrease of 28.64% over the same period last year. Loss attributable to owners of the company was 634 million yuan, compared with a profit of 449 million yuan in the same period last year.
In 2023, the Group's gross profit was approximately 1,629 yuan million, a decrease of 1,085 yuan million or 40.0% from approximately 2,714 yuan million in 2022. The company's gross profit margin decreased from about 24.5% in 2022 to about 20.7% in 2023. The decrease in gross profit margin was mainly due to the fact that the decrease in cement price in 2023 was greater than the decrease in cost per ton of cement.
As of 31 December 2023, Tianrui Group had clinker production capacity of 28.4 million tonnes, cement production capacity of 56.4 million tonnes and limestone aggregate production capacity of 30.2 million tonnes.
