Cementos Molins expects return to profit

Cementos Molins expects return to profit
23 June 2014

Cementos Molins expects to be back in the black in Spain thanks to the deceleration of the market slowdown in the country and the development of its business in Mexico. Full-year profits in 2014 are expected to reach EUR30m, according to the company’s CEO, Juan Molins.

Last year, the company’s profit were EUR10m, 77 per cent less than the year prior, mainly due to positive figures returned by its foreign operations, which offset losses in Spain. Cementos Molins had an operating profit of EUR171m abroad and a loss of EUR12.7m in Spain.

The company now aims to return Spanish profit to positive numbers, resulting in a worldwide profit of EUR100m by 2017 and recover profit levels last seen a decade ago. It does not expect the Spanish market to provide the business volumes it reached in the years of the housing boom but around a third.
Cementos Molins is present in Argentina, Mexico, Uruguay, Tunisia and Bangladesh. The company also received authorisation to build a precast concrete plant in China.

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