CBB posts 132% surge in 1Q income
Chile-based CBB reported sales of CLP97,781.67m (US$102.83m) in the 1Q24, up 11.1 per cent from CLP87,989.15m in the equivalent period of the previous year.
In the 1Q24 EBITDA reached CLP22,803, up 44.8 per cent YoY as dispatches in all business lines increased and margins improved. Cement dispatches increased 22.6 per cent YoY to 315,000t in the 1Q24 from 257,000t in the while concrete deliveries edged up by 6.4 per cent YoY to 281,000m3 from 264,000m3.
Net income advanced by 131.7 per cent to CLP10,980.32m in the 1Q23 from CLP4739.27m. The company attributes the increase to improved operating profits, other income, lower financial costs and exchange rate differences. However, cost of sales, distribution costs and higher taxes partially offset gains made.
Basic earnings per share from continuing operations increased to CLP42 in the first three months of the year, from CLP18 in the year-ago period.
In 2024 the company is investing in equipment relating to its grinding upgrade at Copiapó, a distribution centre in the north of the country and an solid alternative fuel project in the Teno plant.
