Semapa reports decline in Angola sales

Semapa reports decline in Angola sales
Published: 10 February 2011

Sales of cement in Angola by Portuguese group Semapa fell 42.8 per cent in value in 2009 to EUR27.8m. The company has attributed the decline to: “a fall in consumption of cement of around 20 per cent and strong competition from cement imported from China at low cost".

Semapa reported turnover of EUR535.8m in 2010, which is a drop of 6.4 per cent compared to 2009, mainly due to a reduced performance of its Portuguese and Angolan operations where EBITDA was down 19.8 per cent and 90 per cent respectively.