Portland Valderrivas expects to report profits from 2013
First publishedon www.AggBusiness.com
Spanish cement firm Cementos Portland Valderrivas is expecting to go back to black from 2013, thanks to the implementation of its Plan NewVal.
The company expects to generate extra revenue by adjusting production capacity in Spain and optimising costs in the US, creating a forecast ebitda of €200million for 2012-13. Cement sales in Spain totalled 20.4million tonnes in 2011 and are expected to drop below 16million tonnes in 2012. In 2011, the company reported €327.4million losses, compared to €1.2million profit registered in 2010, partly due to the fact that Grupo Giant Cement Holding now accounts as non-current asset under sale.