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News Displaying items by tag: CNBM

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BNBM’s income and profits grow in the first half of 2023

30 August 2023

China: Beijing New Building Materials (BNBM)’s operating income grew by 9% year-on-year to US$1.57bn in the first half of 2023, from US$1.44bn in the same period in 2022. Its net profit increased by 19% to US$251m from US$211m. The company said that it had a total gypsum wallboard production capacity of 3.4Bnm2/yr and that it was the world’s largest gypsum board group.

Parent company China National Building Material (CNBM) reported separately that its total sales of gypsum wallboard remained stable in the first half of 2023, at 1.09Bnm2. It said “The supply of gypsum board is stable, but affected by the weak operation of the real estate market. The demand is insufficient and the operation of the industry is under pressure.” It added that BNBM built four “nearly zero emission” gypsum board production lines in the reporting period.

Published in Global Gypsum News
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BNBM’s sales take a hit in 2022

14 April 2023

China: BNBM’s operating income fell by 6% year-on-year to US$2.90bn in 2022 from US$3.07bn in 2021. Its net profit dropped by 11% to US$457m from US$511m. Parent company China New Building Material (CNBM) reported that its sales volumes of gypsum wallboard declined by 12% to 2.09Bnm2 from 2.38Bnm2. It noted that, despite prices for raw materials and energy increasing in 2022, the poor local real estate market had led to a decline in demand for wallboard. It added that performance in Tanzania had grown in the reporting year and that new projects in Uzbekistan and Thailand remained on track. The group said that its 50 gypsum wallboard production lines had achieved “nearly zero emissions” in 2022.

Published in Global Gypsum News
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China National Building Material expects profit to halve in first nine months of 2022

11 October 2022

China: China National Building Material (CNBM) expects its profit to decline by 50% year-on-year in the first nine months of 2022. The group said that this will be due in part to reduced gypsum wallboard sales and a 'substantial' decline in the value of its financial assets.

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BNBM’s profit and sales volumes decline in first half of 2022

31 August 2022

China: BNBM’s operating revenue grew by 2.4% year-on-year to US$1.50bn in the first half of 2022 from US$1.46bn in the same period in 2021. Its net profit fell by 11% to US$237m from US$266m. Parent company CNBM reported that its sales volumes of gypsum wallboard fell by 5.8% to 1.09Bnm2 from 1.16Bnm2. It said that continued coronavirus lockdowns and problems in the real estate market had affected market demand. It added that the price of raw materials and energy had also risen, leading to increased production costs and mounting product prices.

Published in Global Gypsum News
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BNBM’s income grows by 25% to US$3.33bn in 2021

31 March 2022

China: BNBM’s operating income grew by 25% to US$3.33bn in 2021 from US$2.66bn in 2020. Its net profit rose by 23% to US$554m from US$451m. Its production and sales volumes of gypsum wallboard increased by 19% to 2.43Bnm2 and 18% to 2.38Bnm2 respectively. It reported a gypsum wallboard production capacity utilisation rate of 78%. The group added that data from the Gypsum Building Materials Branch of China Building Materials Federation showed that national wallboard production capacity was 4.90Bnm2/yr and that production and sales were 3.51Bnm2 in 2021.

Parent company CNBM separately reported that the group raised its average wallboard selling prices by 7%. It said it put up its prices in the reporting period due to high prices of coal, gypsum, paper and other raw materials. Internationally, the group said that a new wallboard plant in Tanzania had started operation in 2021 and that a new plant in Uzbekistan is still being built.

Published in Global Gypsum News
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Update on BNBM, February 2022

09 February 2022

BNBM has announced two overseas gypsum wallboard plants since the start of 2022. In Early January 2022 the China-based producer said it was going to build a 40Mm2/yr plant in Thailand as part of a joint-venture with Sinoma International Engineering and its subsidiary Sinoma (Thailand). Notably the unit is also to be equipped with a decorative gypsum line. The estimated project investment is US$55m. Then, in February 2022 BNBM revealed plans to build a 40Mm2/yr gypsum wallboard plant in Bosnia & Herzegovina. This one is a joint venture with Rudnik i Termoelektrana Ugljevik (RiTE Ugljevik), a subsidiary of the local state-run power company. The project will be situated next to the coal-fired power plant at Ugljevik. No surprises then for what source of raw gypsum the wallboard plant is likely to be using! The estimated project cost is Euro50m.

These two projects join a pair of other plants the producer is also cooking up internationally. In mid-2019 it revealed new wallboard plants in Tanzania and Uzbekistan. The former is a 15Mm2/yr plant to be run via a subsidiary. It was reported to be in a construction phase in mid-2021. The latter is a 40Mm2/yr gypsum wallboard plant to be built in the Kokand Free Economic Zone, Fergana Region in Uzbekistan via a wholly-owned subsidiary. So far it is reportedly in the preparation stage. The company also has a number of wallboard plant projects in development at home in China, including plants currently being built at Shuozhou in Shanxi province and Yichang in Hubei province.

During the first half of 2021, BNBM’s operating income rose by 46% year-on-year to US$1.59bn from US$1.09bn. 65% of this was generated from its gypsum wallboard business sales. Overall, parent company CNBM reported gypsum wallboard sales of 2.01Bm2 in 2020 from BNBM and Taishan Gypsum.

A subsidiary of CNBM building production capacity outside of China will sound familiar to those readers who follow the cement industry. The industry has been using the Belt and Road Initiative to move redundant domestic capacity abroad as the local market has become saturated and environmental measures bite. Chinese cement production capacity per capita has seemed extraordinarily high by international norms over the last 20 years. Yet, gypsum wallboard production capacity per capita is a wildly different story. Global Gypsum Directory 2021 data suggests that the US had a rate of 12.7m2/capita compared to 2.4m2/capita in China.

With this in mind it makes one wonder why BNBM is bothering internationally given the market scope at home as China meets its climate commitments. As the move by some western multinational building material companies over the last year or so suggests, the future may lie in light building materials. On the other hand BNBM/CNBM may simply have its eye on the bigger picture. Just like its international competitors, it doesn’t want to miss out on the opportunity for market enlargement or being left behind if the ratio between heavy and light building materials switches. If it really means business, then the next steps could be wallboard plants in Western Europe or even the US. A US-based joint-venture for BNBM might help to make everyone forget the unending legal debacle with Taishan’s imports.

Published in Analysis
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China National Building Materials’ gypsum wallboard sales volumes grow by 66% to 1.12Bnm2 in first half of 2021

06 September 2021

China: Sales revenue from China National Building Materials’ (CNBM) new materials business grew by 28% year-on-year to US$3.36bn in the first half of 2021 from US$2.63bn in the first half of 2020. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) from the segment, which includes gypsum producers BNBM and Taishan Gypsum, rose by 66% to US$873m from US527m. The gypsum wallboard producers reported a combined sales volume increase of 41% to 1.12Bnm2 from 0.79Bnm2. The group said that BNBM had also been working on the development of the first domestic automatic edge keel packaging machine for a ‘super large’ production line of gypsum wallboard with an output of 120Mm2/yr.

Overall across all business lines the group’s revenue grew by 14% to US$18.9bn from US$16.5bn in the same period in 2020. Adjusted EBITDA rose by 13% to US$3.98bn from US$3.51bn. Total revenue benefitted from particular gains from its New Materials and Engineering businesses.

Published in Global Gypsum News
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Etex hires JP Morgan for Knauf Australia assets bid

23 November 2020

Australia: Belgium-based Etex has hired financial services provider JP Morgan to help it buy Knauf’s Australian gypsum wallboard portfolio, valued at around US$293m. The Australian newspaper reports that Saint-Gobain and China National Building Material (CNBM) are also interested in the sale.

Knauf is divesting the assets to satisfy the Australian Competition and Consumer Commission’s fair play rules following its purchase of Boral’s stake in the USG-Boral gypsum wallboard joint venture for US$1.05bn. The companies have until September 2020 to finalise the transaction.

Published in Global Gypsum News
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Saint-Gobain named as potential buyer for Knauf’s Australian gypsum wallboard business

19 October 2020

Australia: France-based Saint-Gobain is reportedly considering the purchase of Germany-based Knauf’s US$284m Australian gypsum wallboard business. The Australian newspaper has also named Saint-Gobain as a potential buyer of USG Boral’s US$2.48bn US business. Separately, China National Building Material (CNBM) has been linked to the Knauf sale. Any such deals would be subject to anti-competitiveness checks.

Published in Global Gypsum News
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Taishan Gypsum proposes to pay additional US$248m on ongoing US defective wallboard case

01 August 2019

US: China National Building Material Company (CNBM) has proposed paying US$248m in one of its on-going legal cases related to alleged defective gypsum wallboard sold by Taishan Gypsum. This latest settlement agreement covers plaintiffs not previously covered by the Amorin Case, those in the Brooke Case and all other property owners with Chinese gypsum board alleged to be attributed to Taishan and connected partners. The settlement is dependent on all parties signing the agreement.

Published in Global Gypsum News
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