Spanish cement firm
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.