Breedon Cement reported EBITDA of £39.85 million in 2017 with growth accelerating in 2Q17, after annual maintenance and upgrade shutdowns at its Hope cement plant in the first six months. Total revenues rose to £141.6 million.
“These results were delivered against the background of generally softer UK volumes of ready-mixed concrete, one of our principal routes to market, coupled with high levels of cement imports, which combined to intensify competition in the build cement market,” said Breedon Cement Interim Managing Director, Tom Billingham.
Away from the financial performance, the company completed its planned internalization of cement supplies to the majority of Breedon’s concrete plants in its southern region. The company also completed major upgrade work at the Hope plant, as well as integrating two import terminals into the business.
The import terminals at Blyth and Dundee will allow the company to grow its cementitious business through the import of cement and ground granulated blastfurnace slag.
At Hope, the preheater riser, kiln feed and rail line were upgraded, as well as replacement excavator at the limestone quarry.
Overall, Breedon Group reported a 35% increase in full-year earnings to £80.4 million, boosted by a full-year contribution from Hope Construction Materials, which Breedon acquired in 2016. Revenues rose 43% to £652.4 million.
Read the article online at: https://www.worldcement.com/europe-cis/14032018/breedon-cement-reports-a-year-of-growth-in-2017/