Cementos Molins ’09 profit slips 38.5% YoY

Cementos Molins ’09 profit slips 38.5% YoY
Published: 26 February 2010

Spanish cement company Cementos Molins reported an attributable net profit of EUR 66.7m (US$90.1m) for 2009, down 38.5% on the year, the firm said in a filing with the national stock market watchdog CNMV yesterday.
The fall was explained with the flagging demand, resulting from the crisis in the construction sector.
Revenue also slipped by 17.5% YoY to EUR 663.9m. Sales on the national market accounted for 49% of the total. Domestic sales fell by 28%, while these on the international market saw an annual drop of 4%.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was down by 26.5% to EUR 162.1m.
In 2009 the company invested a total EUR 170m.
Net debt stood at EUR208m in end-December, some EUR10m more compared to the figure posted a year earlier.
Source: Spanish News Digest