Cimpor - November 2015

Cimpor's nine-month turnover declined by 1.2 per cent to EUR1927.9m and EBITDA came off by 14.2 per cent to EUR395.1m as cement deliveries in Brazil, Egypt and South Africa fell by 15.8 per cent, 13.8 per cent and 7.7 per cent, respectively. Argentina, on the other hand, improved shipments by 9.3 per cent. The trading profit (EBIT) came down by 22.7 per cent to EUR248.5m and the net financial charges declined by 4.6 per cent to EUR274m, to give a pretax loss of EUR25.5m compared with a profit of EUR34.4m at this stage last year. The tax charge was 63.4 per cent lower at EUR17.2m and the net attributable loss rose from EUR12.7m to EUR42.7m. Net debt at the end of September stood at EUR3290m, 9.4 per cent lower than a year earlier, giving a gearing level of 8.57 times shareholders' funds. Capital expenditure in the period was reduced by 22.1 per cent to EUR109m.

To continue reading this story and have 100% free access to the website, please Register for a subscription to International Cement Review or Login