The Aalborg Portland Group has reported net sales of €858.4 million in 2014, up from €670.8 million in 2013. Profit was also up, at €109.0 million from €76.2 million. The strong performance can be largely attributed to the inclusion of Turkish subsidiary Cimentas for the full year in 2014, where it was only included in the final quarter of 2013. Moreover, Cimentas achieved full capacity utilisation in three of its four cement plants.
The Aalborg Portland has plants in Egypt, Malaysia, China, the US and Turkey.
The Aalborg Portland Group operates worldwide, with 75% of its net sales related to activities outside of Denmark. In 2014, the group invested to double the capacity at its plant in Malaysia in order to increase sales of white cement in Southeast Asia and Australia. Going forward, the company is expecting a slight increase in activities in the building market in Denmark, which remains the group’s largest market. However, the significant Danish tax pressure continues to weaken the competitiveness of Aalborg Portland’s production in Denmark in relation to foreign competitors. Danish special taxes totalled €7.9 million last year.
"Both the NOx levy and the PSO levy burden Aalborg Portland, while the European companies, which Aalborg Portland is in fierce competition with, are not subject to these levies," says Henning Bæk, CFO.
Aalborg Portland is planning the construction of a wind farm near the plant in Aalborg. The project is currently under consideration by the Municipality of Aalborg. Since 2010, Aalborg Portland has invested €24.8 million in climate and environmental improvements.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/22042015/aalborg-portland-posts-significant-rise-in-2014-sales-729/