Cementos Molins net profit down

Cementos Molins net profit down
Published: 18 November 2005

Spanish cement company Cementos Molins posted a Euro 61.2m net profit for the first nine months of 2005, down 4.0 per cent year-on-year, the company informed in a statement the Spanish stock market regulator CNMV on November 16, 2005.  The decrease was chiefly due to the fine, imposed on its Argentine subsidiary for cartel establishment in July 2005. 

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 10 per cent to Euro 135m Cementos Molins turnover totalled Euro 439m up 12.6 per cent. Sales on the domestic market accounted for 65 per cent of the total, up 10 per cent, and those outside Spain increased by 17.6 per cent. The company’s cement sales went up by 13 per cent, boosted by the expanding cement sectors in Spain, Argentina and Uruguay.