Votorantim - August 2015
Votorantim’s share of sales and profit from cement declines. Votorantim Industrial generated a 2Q15 turnover 17.4 per cent higher at BRL7800m (EUR1957m) while EBITDA rose by 22 per cent to BRL1810m (EUR454m). The first half generated a turnover of BRL14,884m (EUR3,735m) and EBITDA amounted to BRL3215m (EUR807m). Votorantim Cimentos contributed 44.8 per cent of the turnover and 49.6 per cent of EBITDA in the quarter, with metals being the second-largest contributor, accounting for 39.7 per cent of turnover and 39 per cent of EBITDA, with steel and the mining operations in Peru accounting for the remainder. Group capital expenditure in the quarter was 19.4 per cent higher at BRL610m (EUR153m), with expansion projects representing some 50 per cent of the capital invested of which cement accounted for 87 per cent. Net cash flow improved by 40.1 per cent to BRL964m (EUR242m), while the net debt 3.5 per cent higher at BRL17,700m (EUR4442m).