Danish Aalborg Portland, the world’s largest producer of white cement, boosted turnover by 10% to DKr4,919m (EUR 0.66bn) in 2007 from 2006. Pre-tax profit grew by 15% to DKr723m in 2007 and profit after tax rose to DKr 508m in 2007 from DKr458m in 2006. EBITDA rose from DKr 918m in 2006 to DKr 1,028m in 2007 and EBIT increased from DKr 641m to DKr 738m. EBIT margin in 2007 was 15.0% compared to 14.3% in 2006. The company expects 2008 results to be in line with the 2007 results.
Aalborg Portland’s CEO Henning Baek expects exports to the US market to drop in 2008 but the company aims to offset this from its new growth markets China, India and Russia. Production capacity in China will be expanded and a new production line at the company’s facility in Egypt will be built. By the end of 2008, this facility is expected to be the biggest in the world for the production of white cement.