(Hong Kong, 10 March 2019) – China Resources Cement Holdings Limited ("China Resources Cement" or the "Company", SEHK stock code: 1313, and together with its subsidiaries, the "Group"), the largest and the most competitive cement, clinker and concrete producers in Southern China, announced its annual results for the year ended 31 December 2018.
In 2018, the Company's consolidated turnover amounted to HK$38,791.5 million, representing an increase of 29.5% over last year. Profit attributable to owners of the Company amounted to HK$7,975.4 million, representing an increase of 120.5% over last year. Basic earnings per share reached HK$1.179. The Board recommends the payment of a final dividend of HK$0.273 per share for the year ended 31 December 2018. Along with the interim dividend of HK$0.275 per share, the annual dividend was HK$0.548 per share (2017: HK$0.270 per share), representing a dividend payout ratio of 48.0% (2017: 48.8%). As at 31 December 2018, the total assets of the Company was HK$60,506.4 million, the net gearing ratio was 0.3% and the net assets per share was HK$5.40.
In 2018, China Resources Cement's external sales volume of cement, clinker and concrete reached approximately 82.6 million tons, 4.0 million tons, and 14.2 million m3, representing an increase of 8.8%, a decrease of 49.3% and an increase of 5.7% respectively from last year. During the year, the Group's utilization rates of cement, clinker and concrete production lines were 102.9%, 113.7% and 39.8% respectively. During the year, the average selling price of cement and clinker was HK$377.8 per ton and HK$328.9 per ton, representing an increase of 25.4% and 28.2% respectively over last year. The average selling price of concrete was HK$439.7 per m3, representing an increase of 17.0% over last year. The consolidated gross margin of the Company was 39.8%, representing an increase of 9.0 percentage points as compared to last year. Net margin was 20.6%, which was 8.6 percentage points higher as compared to last year.
