Cimpor - August 2016

Cimpor's first-half turnover dropped by 31.1 per cent to EUR897.3m, while EBITDA declined by 39.1 per cent to EUR170.1m. The amortisation and provision charge jumped from EUR100.6m to EUR527.9m as a result of a EUR433m good-will impairment charge relating to Brazil. This led to the trading result falling from a profit of EUR178.6m to a EUR357.7m loss and after a 9.2 per cent increase in the net financial charge to EUR182.2m there was a pretax loss of EUR539.9m against a profit of EUR11.8m. After a EUR11.2m tax credit, the interim net loss jumped from EUR7m to EUR526.7m. The net debt at the end of June was 7.5 per cent lower than a year earlier at EUR3415m. 

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