Spain: Spanish cement company Cementos Molins has reported a net profit of Euro31m for the nine months to September 2012, an increase of 85% compared to the same period in 2011. In a regulatory filing the company attributed the increase to its international operations.
The foreign units of the company recorded a net profit of a total Euro55m while the domestic subsidiaries registered a combined loss of Euro24m. Cementos Molins' turnover was Euro688m from January to September 2012, a rise of 12.6% year-on-year.
Sales abroad grew by 23% to Euro550.4m while domestic sales fell by 15.7% to Euro138m due to a significant reduction in demand. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 43% in Euro159m. The company's net debt was Euro349m at the end of September 2012, a reduction of Euro49m from December 2011.