Baltic Export, Construction, Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Friday, 26.04.2024, 01:37

Lithuanian Akmene Cement’s revenue down 6% to EUR 55.4 mln in 2015

BC, Vilnius, 05.02.2016.Print version
Lithuania's only cement manufacturer Akmenes Cementas (Akmene Cement), which in 2015 sold nearly 1 million tons of cement, posted 55.4 million euros in revenue for full 2015, a decline of approximately 6% from the year-earlier figure of 59.2 million euros, informs LETA/BNS.

Nearly 50% of revenue was from export markets, mainly Poland, Scandinavia and Russia’s exclave of Kaliningrad, and the rest was from the domestic market, the Verslo Zinios business daily reported on Friday.

 

“Cement consumption more or less reflects the situation in the Lithuanian construction sector. In 2013, cement consumption rose by approximately 10% whereas in 2014 the market shrank by 5% and in 2015 – by another approximately 7%. Competition is getting stronger,” Akmenes Cementas CEO, Arturas Zaremba, told the daily.

 

Cement manufacturers from Belarus, which seek to force their way into the neighboring EU markets, had already conquered approximately 15% of Lithuania’s cement market, he said, adding that vendors in Lithuania were also selling cement from Latvia and Sweden.





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