Portland Valderrivas saw its turnover decrease 7.6 per cent YoY to EUR536.2m in 2016. The company recorded a net loss of EUR-120.4m, from a net profit of EUR28.6m in 2015. In addition, an EBITDA of EUR-226.4m was posted at the end of 2016, exacerbating the loss of EUR-73.2m reported the prior year.

Cement sales slipped 1.7 per cent from 7.3Mt in 2015 to 7.2Mt in 2016 while the concrete division noted a 10.2 per cent drop in sales to 225,000m3. Aggregate sales increased by +26.4 per cent to 888,000t and mortars edged up 0.7 per cent to 237,000t. Cement remains the largest part of the business, noting a 89.5 per cent share of sales. Concrete, aggregates and mortars account for an additional 5.3 per cent.

Just under 35 per cent of sales originated in Spain with a similar share in the USA. While the company reports a fall in Spanish cement consumption of around three per cent to 11.14Mt, it is more positive about trends in the USA, where cement consumption shows a modest rise.

Tunisia’s share in sales fell from 13.8 per cent to 12.8 per cent and a similar trend was noted in the UK, where the market share slipped from 6.24 per cent to 6.07 per cent. Sales in other parts of the world increased their share from 9.28 per cent to 11.8 per cent.