Carpatcement revises turnover forecasts down after 20% turnover decline

Mihai Rohan, president of Carpatcement Holding, local subsidiary of German group HeidelbergCement, says the cement market will return to growth as late as in 2012, spurred by a rebound of infrastructure works and of lending.
On the deepening in the first half of the year, Carpatcement Holding revised its turnover forecast down 20% for 2010, to 707 million RON (around 168 million euros), considering the sales trend recorded in the first six months. Rohan originally anticipated a 5-10% turnover decline, relying on a consumption rebound in the second half of the year, no longer possible under the current circumstances.
“Turnover estimates have been revised now, six months into the year, based on the results recorded in the first half (20% lower than originally expected). As for the coming period, we expect to maintain the current level of sales until the end of 2010,” explains Rohan.
However, Carpatcement Holding representatives say the sales trend in the first six months of the year was better than in the first half of 2009.