Cementos Portland reports EUR45.3m net loss in 9M14

Spain's Cementos Portland has reported a EUR45.3m net loss in 9M14, a 92.1 per cent increase when compared with the loss noted in 9M13.

Turnover fell by 1.6 per cent YoY to EUR406.6m as non-profitable plants were closed, but cement sales were up by five per cent.

EBITDA rose 95 per cent to EUR82.6m, fuelled by efficiency measures implemented in Spain and the US, the deregulation of the cement industry in Tunisia, sustained growth in the US and improved emission rights sales in Spain.