Cementos Portland says its €337mn investment in clearing up its balance sheet was behind the company's €327.5mn loss during 2011.
The significant loss comes after the Spanish cement firm recorded a profit of €1.2mn in 2010.
Other figures show that turnover fell 19.2% to €609million, while its Ebitda dropped 30.8% to €150.1million.
The company has announced the launch of an industrial plan of action, Plan NewVal, for 2012-13. The company plans to increase aims to increase its Ebitda by over €60million within two years.
