Nicosia, Cyprus. Vassiliko Cement Works Public Company Ltd reported a first-half profit of €23.23 million for 2026, up from €19.51 million a year earlier, as domestic cement sales and clinker export prices increased.
Interim results
The company’s board of directors approved the consolidated interim financial statements for the six months ended June 30, 2026, at a meeting on July 30, 2026.
An extract from the interim financial statements will be published in the local press, while hard copies will not be mailed to shareholders.
Revenue and profitability
Revenue rose to €80.39 million in the first half of 2026, compared with €77.48 million in the corresponding period of 2025.
The company said the increase was mainly driven by higher domestic cement sales and improved clinker export prices.
Gross profit increased to €29.13 million from €25.50 million in the first six months of 2025.
Costs and investment
Fuel costs increased during the reporting period, but the effect was partly offset by lower electricity costs and continued efforts to improve production efficiency and contain operating expenses, the company said.
It added that it remains focused on gradually replacing traditional fuels with alternative fuels, alongside targeted investments to improve energy efficiency and reduce carbon emissions.
Other operating income
Other operating income increased compared with the same period last year and included €890,000 in insurance proceeds relating to damage to the quay wall and onshore installations caused by a vessel allision in June 2024.
The company said these factors lifted first-half profit by almost 19 per cent to €23.23 million, from €19.51 million a year earlier.