Spain: Cementos Portland improves loss

Cementos Portland reported a loss of nearly EUR36.8m (US$40.5m) in the first half of 2016, a 7.9 per cent YoY improvement when compared with the EUR39.9m loss in 1H15. EBITDA improved 23 per cent to EUR46m.

Revenues fell by 1.8 per cent due mainly to a decrease in sales volumes in Spain and Tunisia, which contracted by 2.3 and 5.5 per cent, respectively in the first half of the year. The USA delivered relief as the market expanded by 10.2 per cent by the close of April. In addition, exports advanced 7.7 per cent in 1H16.

Overall, Cementos Portland increased its sales volumes by 1.2 per cent to 3.7Mt but concrete deliveries fell by 28.6 per cent while aggregates and mortars increased by 31 and 3.4 per cent, respectively.