Cementir boosted by Scandinavia and Italy

Cementir reported yesterday in its 2015 preliminary figures that improved performances in Scandinavian countries and Italy, plus a stable contribution from the Far East group area offset lower earnings in Turkey and Egypt.

Revenue from sales and services amounted to EUR969m, up 2.2 per cent YoY thanks to the sound performance of operations in Scandinavian countries, Malaysia, Italy and Egypt, which compensated for the deterioration seen in Turkey and China and the negative impact of the depreciation of some foreign currencies against the euro. At constant exchange rates, revenue would have amounted to EUR973.6m, up 2.7 per cent on the previous year.

Sales volumes of cement and clinker fell by two per cent in 2015 to 9.4Mt from 9.6Mt in 2014, mainly due to the weakness of the Turkish market. Ready-mix concrete volumes were up 7.3 per cent YoY to 3.75Mm3, while aggregate deliveries rose by 17 per cent YoY to 3.8Mt.

EBITDA reached EUR194.9m, up EUR2.5m on the 2014 figure. This result was positively affected by non-recurring items worth approximately EUR15m (EUR12m in 2014). Therefore, net of these non-recurring items, EBITDA would have been EUR180m, in line with the previous year.