Latvia: Cemex loss, but investment high

Latvia's cement producer Cemex posted a turnover was €86.9 million for 2014, nearly unchanged year-on-year (2013: €87.08 million). The company's net loss was €1.8 million which was due to the effect of the mandatory procurement component for electricity in Latvia, as well as interest and depreciation related to €290 million investment in the Broceni cement factory. Cemex generated a €4.84 million profit in 2013, up from the suffered loss of €14.18 million in 2012. Exports accounted for more than 70

Quarry Products / August 6, 2015

Latvia's cement producer 643 Cemex posted a turnover was €86.9 million for 2014, nearly unchanged year-on-year (2013: €87.08 million).

The company's net loss was €1.8 million which was due to the effect of the mandatory procurement component for electricity in Latvia, as well as interest and depreciation related to €290 million investment in the Broceni cement factory.

Cemex generated a €4.84 million profit in 2013, up from the suffered loss of €14.18 million in 2012.

Exports accounted for more than 70% of the company's sales revenue in 2014.

Cemex has invested € 330 million in Latvia, including the Broceni factory.

For more information on companies in this article

Cemex