Cimpor 2008 profit to drop 32% YoY

Cimpor 2008 profit to drop 32% YoY
Published: 17 March 2009

Portuguese cement producer Cimpor is expected to report a 32% YoY drop in its 2008 profit to EUR207m, forecasts of CaixaBI showed on Monday, reports the Portuguese News Digest.

The turnover of the company is expected to come in at EUR 2.119bn, up 8% on the year.

EBITDA are seen to fall 2% to EUR 595m.

According to the analysts, some of the markets where Cimpor is present will have a negative impact on the operating performance of the company.

CaixaBI expects the EBITDA of Cimpor in Spain and Turkey to register an annual slump of 40% and 58%, respectively.

The analysts expect favourable results from the Brazilian and the Moroccan market.

Cimpor will release its results for the full 2008 on March 17.