Cementir reports level cement sales in 1H18
Published by Jonathan Rowland,
Editor
World Cement,
Cementir reported cement sales volumes of 4.92 million t in 1H18, on par with sales in the first half of 2017. Sales revenue for the group (which also includes ready-mixed concrete and aggregates sales) was €588.5 million, a rise of 5.7% on the same period in 2017.
The company benefitted from its increased stake in US-based Lehigh White Cement Co. (LWCC), which it acquired from HeidelbergCement in April. The company now holds 63.25% of LWCC with CEMEX holding the remainder.
LWCC contributed an increase of €36.1 million in revenue over the period, the company said.
Earnings were up 9.5% at €96 million t with LWCC again boosting results, as well as improvements in the company’s performance in Turkey, Belgium, and China. In contrast, the company suffered worse results in Egypt, Norway, Malaysia, and Denmark, while the strong euro hit earnings by €7.9 million.
At a constant exchange rate, earnings would have stood at €103.9 million.
Read the article online at: https://www.worldcement.com/europe-cis/20082018/cementir-reports-level-cement-sales-in-1h18/
You might also like
The World Cement Podcast - The changing face of cement in Europe
In this special joint episode of the World Cement Podcast and Cementing Europe’s Future, Senior Editor David Bizley is once again joined by Koen Coppelholle, CEO of Cement Europe (formerly CEMBUREAU). The two discuss the reasons behind the rebrand, a new action plan for cement, and the future of the industry.
Tune in to the World Cement Podcast on your favourite podcast app today.
