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News Trinidad Cement's sales rise in 2022

Trinidad Cement's sales rise in 2022

Written by Global Cement staff 18 May 2023
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Trinidad & Tobago: Trinidad Cements' sales were US$309.6m in 2022, up by 9% year-on-year. Group earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 19% to US$77.0m. The Trinidad and Tobago Guardian newspaper has reported that the producer recorded a US$16.1m loss during the fourth quarter of the year. The producer attributed this to a weather-related drop in cement demand across its markets, as well as restructuring costs for its Barbados-based subsidiary Arawak Cement.

Trinidad Cement chair David Inglefield and managing director Francisco Aguilera Mendoza said "We will ensure that our operations remain resilient by continuing effective cost management initiatives to maximise value in this challenging economic environment. Additionally, we expect improved productivity and efficiency of our equipment on completion of major planned maintenance in 2023."

Last modified on 31 May 2023
Published in Global Cement News
Tagged under
  • Trinidad & Tobago
  • Trinidad Cement
  • Arawak Cement Limited
  • Results
  • weather
  • Maintenance
  • costs
  • demand
  • GCW609

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