Kunda sees 6% drop in revenue in 2023

Heidelberg Materials Kunda AS's sales revenue declined by 6.1 per cent YoY to EUR37.8m in 2023. The majority of this revenue, or EUR35.5m, was generated in Estonia with smaller revenues from the Swedish market (EUR1.3m) and Latvia (EUR1m), according to the company’s annual report.

Cement volumes saw a 24 per cent drop due to a drop in construction volumes and higher prices. In addition, cement export share fell to six per cent.

Cement production declined in line with the drop in sales.

The company invested in the replacement of the casing and liner of cement mill no 4, a radioactive analyser and grab crane bucket.