Semapa closed the first quarter of 2009 with a net profit of EUR12.8m (US$16.9m), down 47.6% on the year, Semapa said on Tuesday.
The turnover of the group went down 8.2% to EUR 342.4m.
EBITDA decreased 23% to EUR 73m.
The sales of the pulp and paper unit of Semapa stood at EUR 263.8m, down 12.2%, while the sales of the cement operations of the group went down 2% to EUR 139.8m.
The net debt of Semapa at the end of March 2009 stood at EUR 1.061bn, against EUR 1.016bn a year ago.