Spain’s Cementos Molins profit grows to €15.1mn in Q1 2015

Spanish cement company Cementos Molins posted a profit of €50.8 million in 2015, a rise of 65% compared with the previous year.

The company’s consolidated net turnover was up 21% at €637.8 million.

The rise in net profit has been attributed to better results in Spain, and although the company continues to produce losses in the Spanish market, it has managed to reduce them from €27.7 million in 2014 to €13.1 million in 2015.

EBITDA for local markets was double at €12.5 million.

In international

Spanish cement firm, Cementos Molins, generated a profit of €17.97 million during the first six months of 2014, which represents a 116.9% growth. This has been attributed to a 39% decrease in losses in Spain to €13.6 million. International activity brought in profits of €31.6 million. Other figures show that turnover fell 6.7% to €248.4 million, whilst gross operating profit stood at €1.5 million.

According to CEO Joan Molins, profits of the Spanish cement producer Cementos Molins should remain at similar levels to those in 2009, despite the industry's outputs in Spain dropping to 28million tonnes over two years, half of what was recorded in 2007. Profits of the company should be of some €56million in 2010, and dividends should be at similar levels than those in 2009, after they were cut to €0.24 per share. Meanwhile, the company has decided to move on with its current investments plan, and raise it