Gypsum industry news

Switzerland: Chemicals producer Sika reported sales of €6.08bn in the first half of 2024, up by 9% year-on-year. The company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 24% to €920m. During the reporting period, the company successfully integrated Germany-based MBCC. It also acquired US-based Kwik Bond and opened new production facilities in Peru and China. The company confirmed its Strategy 2028 targets for sustainable, profitable growth.

Sika CEO Thomas Hasler said "With our good operating result in the first half of 2024, we have shown that we are in an excellent position to gain market share even in challenging markets. Furthermore, our emissions reduction targets, aiming for net-zero emissions by 2050, have been validated by the Science-Based Targets Initiative (SBTi). This important achievement underscores Sika's commitment to sustainability and its proactive role in decarbonising the construction and automotive industries."

For the full year 2024, Sika forecast 6 – 9% sales growth in local currencies and an over-proportional increase in EBITDA.

Latvia, Lithuania & Estonia: Germany-based Knauf’s Baltic business generated a turnover of €108m in the Baltic region in 2023, up by 4% year-on-year. The company’s regional profit grew by 34% to €19.5m. Baltic Business Daily has reported that Knauf’s Baltic sales volumes declined, amid a contraction in the local building market, with new building permits down by 30% year-on-year in the first half of the year. Knauf raised its regional investments to €5.8m, while its personnel costs rose by 3% year-on-year. Nonetheless, the company’s energy costs fell by 19%, and its raw materials costs fell by 7%.

Germany: Chemicals company BASF's sales fell by 19% year-on-year to €37.3bn in the first half of the 2024 financial year (FY2024). Its earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 34% to €4.72bn. As a result, the company now anticipates full-year sales of €73 – 76bn in FY2024, down from the previously forecast €84 – 87bn. It revised its earnings forecast to €4 – 4.4bn, from €4.8 – €5.4bn previously. At the same time, it increased its anticipated reduction in CO₂ emissions for the year. It now expects to generate 17 – 17.6Mt of CO₂ from its operations, down from its previously forecast 18.1 – 19.1Mt.

France: Saint-Gobain reported sales of €23.5bn in the first half of 2024, down by 6% year-on-year from €25.0bn in the same period in 2023. The group reduced its capital expenditure by 5% to €583m. €255m (47%) of this was invested in new capacity, down by 7%. Group earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 2% to €3.65bn from €3.74bn. During the reporting period, Saint-Gobain accelerated efforts to reinforce its profitable growth profile with acquisitions in the light and sustainable building materials segments in Australia, Canada, India and the Middle East. Saint-Gobain said that it exceeded 67% of operating income being generated in “high-growth geographies,” namely North America, Asia and emerging countries. It now expects “double-digit” operating margins in 2024, for the fourth consecutive full year.

Chair and CEO Benoit Bazin said "Our first-half results once again demonstrate the success of Saint-Gobain's new profile, reflecting the group's ability to adapt to different macroeconomic environments and to continue to outperform. The roll-out of our comprehensive range of sustainable and innovative solutions and the resulting enhancement in our mix, together with our decentralised organisation by country with accountability on commercial performance and on proactive cost management, have enabled us to deliver a new record operating margin and strong free cash flow generation. I am very grateful for our teams' dedication and their contribution to the group's consistent improvement in its performance."

Romania: Saint-Gobain Romania has inaugurated a new line at its Turda gypsum wallboard plant in Cluj County. Romania-Insider News has reported that the line cost €50m. The company had previously announced anticipated total investments €45m. All gypsum wallboard produced in the line will come with environmental product declarations (EPDs). Saint-Gobain Romania will employ an additional 100 people to work on the line, raising its total number of employees by 5% to 2000 people across 14 sites.

Saint-Gobain Romania CEO Ovidiu Pascutiu said "This new line, operating at optimal parameters, marks a significant step towards enhancing our production efficiency and expanding our product range to better serve our growing customer base."