Earnings fall 17% at cement maker Mannok

Quinn Industrial

Earnings before interest, tax and write-offs, a measure of the cash a business generates, fell 17 per cent to €25.8 million in 2021 from €31.1 million the previous year.The company blamed last year’s sharp rises in energy, carbon credit and raw materials costs for the fall in earnings. At the same time, carbon credit costs rose to more than €80 a-tonne at the year’s end from €33 a-tonne.

“What these cost pressures in 2021 show is that decarbonising our operations is a commercial, as well as an environmental, imperative,” said Mr McCaffrey.

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