Vassiliko Cement Works has reported strong financial results for the first half of 2025, with revenue reaching €78.8 million, marking a significant increase from €69.1 million during the same period last year.

According to the company, profits also rose markedly, climbing to €19.5m in the first six months of 2025 compared to €11.6m in the corresponding period of 2024.

Earlier this year, the company’s general meeting approved a dividend payout of €12.9m, equivalent to €0.18 per ordinary share, with €0.06 attributed to 2023 profits and the remaining €0.12 drawn from 2024 profits allocated to the annuity reserve.

Despite facing persistent volatility in energy and fuel prices, the company has taken a proactive stance, implementing a range of cost-containment measures across its operations to safeguard profitability.

While energy prices remained below initial expectations in the first half of the year, they are still seen as a key risk factor for the industry, alongside emission costs.

As a result, and as part of its strategy to mitigate these pressures, the company is investing in capital projects aimed at boosting energy efficiency and increasing reliance on alternative fuels.

These investments, in turn, form part of a broader commitment to reduce dependence on fossil fuels and cut carbon emissions, in line with the company’s long-term sustainability goals.

At the same time, expenses for 2024 include a €5m administrative fine imposed by the Commission for the Protection of Competition (CPC) in relation to alleged excessive pricing practices in the domestic market between 2013 and 2018.

The company has contested the decision and has lodged an appeal with the Administrative Court, maintaining full reservation of its legal rights.

As mentioned in the financial results, management remains alert to the shifting economic landscape, particularly developments in interest rates and geopolitical tensions in the wider region, which could continue to affect construction activity and overall market stability.

Even so, the company said it remains focused on cost management, operational efficiency and advancing its sustainability strategy.

“Targeted investments are being implemented with the aim of improving energy efficiency and accelerating the replacement of traditional fuels with alternative sources,” it noted, concluding that these actions are expected to support both its environmental objectives and long-term financial performance.