Cementos Portland Valderrivas widens loss

Cementos Portland Valderrivas widens loss
Published: 06 May 2011

Spanish cement producer Cementos Portland Valderrivas closed the first quarter of 2011 with an attributable net loss of EUR10.9m (USD 16.2m) versus a EUR 8.6m loss a year ago.

Revenue came in at EUR186.6m, losing 2.5% on the year. The worsened performance was chiefly due to the adverse weather conditions in the first three months of the year and higher energy costs.

EBITDA came in at EUR 36.9m, an annual plunge of 16.9% for the three month period, while the earnings before interest and tax (EBIT) slumped by 76.9% to EUR 1.2m.

Spain accounted for 68.8% of the total sales of Cementos Portland, the UK for 5.1% and the USA for 12.8%.