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The rise in dollar price has negatively impacted the earnings of Heidelberg Cement Bangladesh Limited, a multinational company listed in the capital market.
The company blamed a stronger dollar for the fall in its earnings per share (EPS) in the third quarter of 2022.
It posted an EPS loss of Tk 0.64 in the July-September quarter of 2022, the company said in a filing with the Dhaka Stock Exchange (DSE) on Wednesday. The loss in the same period of the previous year was Tk 1.19.
The multinational company in the cement sector reported an EPS loss of Tk 0.66 in the April-June quarter of 2022 as compared to Tk 3.56 in the same period of the previous year. A rise in the value of the dollar was also blamed for this.
The company posted a loss per share of Tk 4.27 in the nine months of the current year which was Tk 9.88 in the same period of the previous year.
The company said that the decrease in EPS is due to the higher cost of raw materials, higher freight costs, the devaluation of Taka against the USD and scheduled plant repairs and maintenance costs.
The company also informed that its Net Asset Value (NAV) per share decreased mainly for net loss during the period. Net operating cash flow per share (NOCFPS) has decreased due to lower sales, less collection from customers and an increase in supplier payments for high raw material prices compared to the last year.
The company’s Net asset value (NAV) per share was Tk 59.73 as on September 30, 2022 and Tk 66.60 as on December 31, 2021. NOCFPS was Tk 2.83 for January-September 2022 as against Tk 22.57 for January-September 2021.
