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/