Holcim Romania, the domestic branch of the Swiss producer of construction materials, last year derived net income standing at 33.3 million euros (120.6 million RON), which accounts for a net margin of approximately 19% against turnover.
Compared with 2004, the Swiss company''s income in Romania advanced by 43%.
Assuming similar net margins for Lafarge Romcim and Carpatcement, the three major cement manufacturers recorded a cumulated net income amounting to an estimated 100 million euros.
In 2004, the value of the three players'' net incomes exceeded 80 million euros, according to Public Finance Ministry data.
Carpatcement representatives did not release any information regarding the 2005 net income, saying the figures had not been approved by the company''s General Meeting Shareholders. Lafarge officials did not make any comment by the time the story was ready for print.
One year ago the three cement producers, Holcim, Lafarge and Carpatcement, which operate in Romania were fined by the Competition Council and had to pay 28.5 million euros. This was largest fine in the history of the Competition Council after it was alleged that the companies conspired to set sale prices for cement. Initially the three companies challenged the decision but eventually complied with the decision: Lafarge paid 10.4 million euros, Carpatcement 8.6 million euros and Holcim around 8 million euros.
The Swiss Holcim Group competes with the HeidelbergerCement German group and with the French Lafarge, each holding approximately one third of the Romanian cement market, approximately worth 330-350 million euros per annum.
In line with a decision of the General Meeting of Shareholders, Holcim Romania shareholders approved the earmarking of 25 million euros (90.3 million RON) from the company''s net income for the payment of dividends.
At the same time, funds worth 2 million euros (7.3 million RON) were allotted as legal reserves, with the rest of income, 6.3 million euros (22.9 million RON) to be assigned later.
Holcim Germany owns 99.7% in Holcim Romania producer of cement, concrete and aggregates.
Last year, the incomes of companies operating in Romania doubled to 11.3 billion euros amid the introduction of the flat 16% tax quota. adrian.mirsanu@zf.ro
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