Mixed results for Chilean producers

Two of Chile’s top cement producers have reported mixed results for the first quarter of 2012.

Cementos Bío Bío (CBB) posted a net loss of CLP408m (US$787,000) in the first quarter, compared with a net profit of CLP204m in 1Q11. The results were due to non-operational charges related to foreign exchange effects, the firm said in a research note. First-quarter sales were up 4% to CLP84.8bn from the year-ago period, and EBITDA increased 29% YoY to CLP11.7bn.

Meanwhile, Cementos Melón reported CLP2.37bn in first-quarter earnings, surging 95.6% from the 1.21bn pesos recorded in 1Q11. Results were largely driven by a 50.5% YoY growth in mortar sales to CLP6.76bn and a 28.7% increase in cement sales in the same comparison, reaching CLP31.9bn.