Cimpor - August 2014

Cimpor's first-half turnover showed a 4.4 per cent decline to EUR1243.1m, but at constant exchange rates there was a 22 per cent increase, while EBITDA did improve by 1.6 per cent to EUR288.7m in spite of negative currency movements amounting to 37 per cent in the case of Argentina, 17 per cent for South Africa and 15 per cent for Brazil. The trading profit increased by 11.6 per cent to EUR197.3m and after a 22.6 per cent decline in the net financial charge to EUR176.5m led to a pretax profit of EUR20.8m compared with a loss of EUR51.1m. There was a net attributable profit of EUR2.2m, compared with a loss of EUR83.6m. The net debt at the end of June was 5.2 per cent lower than a year earlier at EUR3561m, giving a gearing level of 55.4 per cent in line with the 55.2 per cent a year earlier. Group cement deliveries increased by 10.8 per cent to 14.92Mt, with strong increases in Egypt, South Africa and Paraguay offsetting a modest decline in Argentina.

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