Bidding for the longest-lived Slovenian bonds due on March 3, 2081, totaled 4.3 billion euros.
Bidding for the longest-lived Slovenian bonds due on March 3, 2081, totaled 4.3 billion euros. Earlier this month, Slovenia entered the international market for two joint issuances worth 2 billion euros.
Pioneer Cement Limited (PSX: PIOC) was incorporated in 1986 as a public limited company. The company manufactures and sells cement. Over the years, the company has expanded, and as of the fiscal year 2020, it has three production lines with a production capacity of 10,000 tons per day in the third line. The company's production facility is located in Punjab province.
Contribution pattern
As of June 30, 2020, 51 percent of the shares were owned by a foreign company, and about 23 percent of the shares were owned by joint-stock companies. The local public owns nearly 14 percent, followed by 4.5 percent in speculative funds and mutual funds. Board members, the CEO, and their spouses and minor children own less than 1% of the shares in the company. The remaining 7% is with the rest of the shareholders' categories
During the fiscal year 2017
The company's sales revenue grew by 13.5%, while the cement industry grew by 3.7%, with total shipments of the latter exceeding 40 million tons. The company's total deliveries increased by 23 percent. While domestic sales of cement increased year on year, clinker sales to local cement companies that had been absent in the previous year contributed to significant revenues. Production cost increased marginally to 58%, negatively impacting gross margins. However, the net margin was supported by an increase in other revenues, which accounted for nearly 5 percent of revenue.
Sales revenue for fiscal 2018 shrank by about 5 percent
The cement industry saw volume growth of 13.8 percent while Pioneer cement shipments decreased by 1.5 percent. This was due to lower clinker sales due to lower demand. On the other hand, cement shipments in the domestic and export markets increased by 8.8 percent and 95.5 percent, respectively. However, the cost of production has risen dramatically to over 72 percent of revenue. This is due to a number of reasons such as the increase in the price of coal in the international market, the increase in the cost of packaging materials due to the increase in the prices of paper internationally, and the increase in the cost of fuel and energy. Besides, the devaluation of the currency exacerbated the situation. In the absence of other income, the gross margin has decreased to nearly 28%, while the net margin has decreased to 16%.
