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Holcim Croatia remains optimistic for 2015

World Cement,

Holcim Croatia is reportedly looking to post flat revenues for 2013, however remains optimistic for 2015, hoping to raise revenues by 15%.

According to the company’s board chairman, Alan Sisinacki, Holcim Croatia is hoping to cut its losses to €2.49 million in 2014, under its ongoing ‘2015 Plus’ programme, which should return the company to profitability in 2015.

The plan is already yielding results, with Holcim Croatia posting an operating profit in 2H14, the highest result for the company over the last five years.

Sisinacki expects cement sales to remain unchanged in terms of volume in 2014, with sales of aggregates also flat. Holcim Croatia’s concrete sales are set to drop in terms of volume this year, largely the result of asset sales, closures and leases.

Sisinacki added that his expectations for the company’s performance were based on official statistical data, showing a 4% y/y decline in 1Q14 in the construction of buildings, and a 10% decline in other civil construction works in Croatia.

During 1H14, cement demand fell by 6%, according to data from the Croatian association of cement producers. Holcim Croatia is attempting to offset this growth weakness by exporting to Northern Africa, taking advantage of the cement plant located in the Koromacno port.

Edited from various sources by Katie Woodward

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