Cementos Portland sees 2007 revs at EUR1.8bn

Cementos Portland sees 2007 revs at EUR1.8bn
Published: 23 November 2006

Spanish cement group Cementos Portland Valderrivas (CPV) expects to make turnover of more than EUR1.8bn in 2007, double the sales it achieved in 2005, thanks to acquisitions, the company said.

CPV said its Chairman Jose Ignacio Martinez Ynzenga had told a shareholders meeting that EBITDA should come in at EUR600m next year, up from EUR312m in 2005.

CPV, 67 per cent owned by construction company FCC , has recently bought 51 per cent of Catalan cement firm Uniland for EUR1.1bn and has a put option to buy another 22.5 per cent in the next five years.