Northern Europe leads Cementir’s strong performance
Cementir increased its turnover in the first three months of the year by 12.0% to EUR243.3m. Helped by the mild winter in Europe and in Turkey and good market conditions in northern Europe, the EBITDA rose by 25.0% to EUR45m in spite of higher energy costs. The benefits of increased volumes showed through more strongly going down the profit and loss account, with the trading profit rising by 40.2% to EUR27.9m and the pre-tax profit adding 76.0% to EUR26.m%.
Net debt at the end of March was 5.5% higher at EUR448.4m. The investment programme at the Arquata Scriva works in Italy and at the Elazig plant in Turkey are reaching completion, with the main investments going forward being the capacity increases at the Edirne works in Turkey and the white cement plant in Egypt. Shipments of grey and white cement increased by 7.8% to 2.20Mt in the period, while ready-mixed concrete deliveries rose by 17.6% to 1.04m m³ and the aggregates tonnage jumped by 47.8% to 0.73Mt. Published under Cement News
