Akmenes Cementas (Akmene Cement), the sole Lithuania’s cement manufacturer, reported LTL179.2m (EUR 51.94m) in sales for the first nine months of 2007, a surge of 37.6 per cent versus the year-earlier figure of 130.28 million litas. In September alone, the sales grew by 34 per cent, to LTL28.04m, from LTL20.92m in September 2006. Arturas Zaremba, Akmenes Cementas CEO, attributed the increase in sales to growing demand on domestic market. The company was not afraid of competition with cement importers, Zaremba said adding that the prices of cement offered by importers was not competitive as yet. As reported previously, HeidelbergCement Northern Europe has recently acquired Lithuania’s cement wholesaler Gerdukas, which has launched the imports of cement from Sweden.
Last year Akmenes Cementas raised the audited net profit by 8.8 times, to LTL25.1m, from LTL2.8m in 2005, and achieved the sales revenues of LTL188.04m. For 2007 the cement manufacturer is targeting a 10-15 percent rise in sales and a five per cent increase in cement output.