Cimpor - February 2016

Cimpor's turnover declined by 4.3 per cent in 2015 to EUR2,492.7m while EBITDA came off by 18.6 per cent to EUR525.7m. The trading profit emerged 30.2 per cent lower at EUR313.3m and the net financial charge increased by 9.3 per cent to EUR406.1m, giving a pretax loss of EUR92.8m compared with a profit of EUR77.3m in the previous year. A EUR12.4m tax credit helped to reduce the net attributable loss to EUR71.2m compared with a profit of EUR27.2m in the previous year. Net debt at the end of 2015 stood at EUR3073m, a decline of 10.6 per cent, while shareholders' funds dropped by 71.2 per cent to EUR268m, giving an astronomic gearing level of 11.466 per cent compared with an already high 283.7 per cent a year earlier. Capital expenditure was reduced by 45.2 per cent to EUR109m.

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