Spain´s Grupo Cementos Portland Valderrivas has announced its results for 1Q14. The company´s EBITDA increased from -C5.6 million in 1Q13 to -C15.6 million in 1Q14, up 178 per cent YoY. Income before taxes improved by 19 per cent YoY from a loss of -C43.1 million in 1Q13 to a loss of -C34.7 million in the corresponding period in 2014. Turnover reached -C111.3 million, which includes -C43.2 million from the group´s Spanish operations and -C68.1 million from its operations overseas. This represents a decline of 8.6 per cent YoY, a result of lower sales volumes in the US and the gradual sale and liquidation of unprofitable concrete, mortar and aggregate businesses. However, the negative impact of these factors were somewhat offset by rising cement prices in Tunisia.
During the quarter, the Group saw its cement sales volumes increase by 1 per cent YoY. In Spain, as reported by Spain´s cement association Oficemen, domestic cement consumption declined by 2.2 per cent YoY in 1Q14. Although there were steep declines in January and February, a more positive trend was seen in March 2014.
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