Exports offset domestic losses for Molins

Exports offset domestic losses for Molins
25 November 2013

The third-quarter consolidated net profit of Spain’s Cementos Molins fell 65.5 per cent YoY to EUR10.8m. The company’s international subsidiaries enjoyed a profit of EUR43.3m, offsetting the EUR32.5m loss registered in the domestic market.

In the first nine months of the year, consolidated turnover slipped by 9.7 per cent YoY to EUR621m. Around 10.5 per cent was shaved of the turnover originated in Spain while the lower contribution of Mexican subsidiary and the consolidation of Cementos Artigas (Uruguay) saw overseas turnover fall by 9.6 per cent.

The group’s net debt at 30 September fell by EUR26m to EUR289m.

In addition, Cementos Molins Industrial has formalised the contractfor sale of the assets and goodwill relating to the works of Sant Feliu de Llobregat, Barcelone, once authorisation was obtained by Spain’s competition commission.

Published under Cement News