Cementos Polpaico sees 23% earnings rise in 9M19

Chile-based Cementos Polpaico, owned by the Hurtado Vicuña Group, reported earnings of CLP3869.19m (US$5.32m) in the 9M19, representing a rise of 22.8 per cent YoY. In the first nine months of 2018, the company’s earnings reached CLP3150.38m.

The cement producers recorded income from ordinary activities of CLP132.68bn in the 9M19, a 9.4 per cent advance when compared with CLP121.321bn in the year-ago period. EBITDA increased 46.6 per cent YoY, explained by “a 9.4 per cent increase in revenue operational product of higher sales volumes of concrete and cement, mainly for the supply of cement to the related company Cementos Bicentenario,” according to the company. An efficiency plan and savings in process costs as well as the optimisation of the company maintenance procedures have also contributed to the improved results.