Semapa Q1 ’09 profit plummets 47.6% YoY

Semapa Q1 ’09 profit plummets 47.6% YoY
Published: 29 April 2009

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.