Cimpor - May 2014

Cimpor has reported an adjusted first-quarter turnover 6.8 per cent lower at EUR592.5m and the EBITDA declined by 9.7 per cent to EUR133.1m. Measured in local currency, however, there was a profit growth rate of 15.3 per cent, but the euro strengthened considerably against most other currencies in which Cimpor trades. The trading profit (EBIT) was 8.8 per cent lower at EUR89.8m. The net financial jumped from EUR28.9m to EUR92.9m to give a pretax loss of EUR3.1m, compared with a profit of EUR69.5m a year earlier. At the net attributable level there was a loss of EUR10.8m, compared with a EUR47.2m profit. The net debt was 3.2 per cent higher at EUR3545m to give a gearing level of 300.6 per cent.

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