Spain’s FCC, parent company of Cementos Portland Valderrivas, has released its financial results for 2014.
EBITDA improved by 12.1% y/y for the group, rising to €804 million. The increase was aided by efficiency and restructuring measures implemented as part of FCC’s Strategic Plan, which was launched in 2Q13. Cementos Portland Valderrivas also made a positive contribution to the group’s EBITDA. The cement company achieved an EBITDA of €104 million, double the figure recorded in 2013. This was boosted by signs of recovery in Spain’s domestic cement market towards the end of 2014.
FCC has also reduced its financial debt by 15.9% y/y to €5.016 billion. However, turnover declined by 6.2% y/y, falling from €6.75 million in 2013 to €6.334 million in 2014. This decrease has been attributed to the continued stagnation of construction demand in Spain, as well as a more selective approach to growth in FCC Construction’s international markets.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/europe-cis/02032015/fcc-group-releases-2014-results-424/