Lithuania: Akmenes largely offsets decline in Russia exports

Preliminary data show that Lithuania’s Akmenes Cementas posted EUR51m in total revenue, down by EUR4.4m on 2015.

Around 60 per cent of this revenue was generated in the domestic market, a further 20 per cent in other Baltic states and Belarus while the balance came from sales in Nordic countries.

Exports to Russia’s exclave of Kaliningrad used to account for around 30 per cent of its annual revenue, but mandatory cement certification by Russia last year forced Akmenes Cement and other EU manufacturers out of the market.

The 1.5Mta cement factory in Naujoji Akmene, in northwestern Lithuania, last year produced around 1Mt of cement, abou the same volume as the previous year. The company’s CEO, Arturas Zareba, expects to maintain its cement output at a similar level and projects around EUR54m in sales revenue, based on existing contracts.