Spain: Portland Valderrivas reduces full-year loss

Spain: Portland Valderrivas reduces full-year loss
Published: 27 February 2015


Cementos Portland Valderrivas reported a EUR52.3m loss in 2014, around 27.3 per cent less than the previous year.

The company attributed the improved result to the recovery of the Spanish economy which was reflected in a rise in public tenders, boosting in turn cement consumption.

Cementos Portland Valderrivas reported a net operating profit of EUR35.9m, against a net operating loss of EUR24.2m the previous year. Revenues increased 0.4 per cent to EUR542.9m as the company divested from non-profitable business in Spain.

In Spain turnover rose by 11.7 per cent YoY to EUR196m while remaining activities contracting 55.4 per cent, resulting in an overall turnover 8.8 per cent lower. The fall was offset by increased revenue from international activities, which were up 6.5 per cent to EUR347m, as pricing in Tunisia and USA improved in particular.

Portland Valderrivas sold 7.6Mt of cement last year, an advance of five per cent YoY.