Cemex Czech Republic reports net loss in 2018

Cemex Czech Republic reports net loss in 2018
20 August 2019

Cemex Czech Republic reported a net loss of CZK307.1m (US$13.18m) in 2018, declining from a profit of CZK194.9m in the previous year. However, sales increased 70 per cent to CZK3.81bn, with more than 98 per cent generated on the domestic market. The results were positively impacted by a merger with Cemex Cement and Cemex Development, according to an annual report.

"The company recorded a YoY increase in the total volume of sales in 2018 thanks to the merger as well as thanks to the organic growth of existing assets," said the company in a statement.

The company also noted that it expects growth in the construction sector during the current year. "The construction sector will continue growing thanks to building construction, with a significant contribution coming from residential construction. The value of public contracts awarded so far indicates that civil engineering is likely to rise as well."

Published under Cement News