Mixed results for Chilean producers

Mixed results for Chilean producers
06 June 2012

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.

Published under Cement News