Cementos Polpaico swings into black in 9M18

Cementos Polpaico swings into black in 9M18
26 November 2018

Chile-based Cementos Polpaico has reported revenues of CLP121.321bn (US$179.8m) in January-September 2018, representing a 25.9 per cent YoY increase.

In addition, the company has achieved a rise in net profits to CLP3.15bn, a considerable improvement when compared with losses of CLP2.281bn in the previous-year period.

In a year, the cement producer renewed its brand image and presented a new corporate image that is part of its development strategy following the entry of the Hurtado Vicuña group. The group has adopted a strategy with a strong customer focus, high standard of service and process quality.

The company has also seen significant investment. "This year the investment in Polpaico was CLP12bn (US$17.9m), significantly more than last year, and for the next two years we expect investments in that range,” says Javier Moreno Hueyo, general manager. 

“We have renovated 45 mixer trucks this year, these are important investments, especially if one considers that Polpaico, before we arrived, in the last five years, I think that in total they will have bought 10 trucks and we bought 45 in the first year. " 

The company has also dedicated itself to increasing sales volumes of cement and concrete, which has been reflected in the company's results, he adds.

"It is not a market that is growing, it is not a market that is boisterous, we do not see what is happening, we have expectations especially if copper recovers that we have higher growth rates, it has been quite flat," Mr Moreno Hueyo says. “Our participation in the market has been growing significantly,” he concludes.

Published under Cement News