Cimpor - November 2016
Cimpor's nine-month turnover fell by 28.5 per cent to EUR1379.4m and EBITDA dropped by 33.1 per cent to EUR264.6m as cement deliveries in Portugal, Brazil and Argentina declined by 35.7, 19.8 and 11.7 per cent, respectively, with single-figure reductions being seen in South Africa and in Egypt. Mozambique, on the other hand, saw shipments improve by 11.2 per cent and Paraguay by 10.8 per cent. A trading loss of EUR332.3m was declared compared with a trading profit (EBIT) of EUR248.5m a year earlier and the net financial charges increased by 4.9 per cent to EUR287.4m, to give a pretax loss of EUR619.7m compared with EUR25.5m at this stage last year. A tax credit of EUR30.6m compares with a charge of EUR17.2m and the net attributable loss rose from EUR33.7m to EUR583.8m. Net debt at the end of September stood at EUR3421m, four per cent higher than a year earlier, and because of the asset impairments resulted in shareholders' funds turning negative.