Cementos Molins posts lower profits

Cementos Molins posts lower profits
Published: 16 May 2005

Spanish cement maker Cementos Molins, based in the Catalan region, northeastern Spain, posted a net profit of Euro 17.2m for the first quarter 2005, compared to a net profit of Euro 20.2m for the same period of 2004, the company informed Spanish securities regulator CNMV on May 13, 2005.  The decrease in net profit was attributed by Cementos Molins to the higher financial costs to cover its debt. The EBITDA of Cementos Molins totalled Euro 38m.
 
The turnover of the company stood at Euro 129m up 5.2 per cent. The revenue increase was attributed to higher sales of Cementos Molins’ foreign units, such as Argentine Cementos Avellaneda, Uruguayan Compania Uruguaya de Cemento Portland and Mexican Corporacion Moctezuma.