Semapa 2008 profit drops 12.8%

Semapa 2008 profit drops 12.8%
Published: 11 March 2009

Portuguese holding firm Semapa yesterday posted a consolidated net attributable profit of EUR106.3m for 2008, a 12.8% fall compared with 2007.

EBITDA dropped 17.7% to EUR356.2m and recurrent EBITDA dived 16.4% to EUR339.7m.

The EBITDA margin fell to 30.1% from 24.7% and the recurring EBITDA margin shrank to 23.6% from 28.3%.

Semapa’s consolidated sales edged up by 0.4% to EUR 1.442bn.

Net debt amounted to EUR1.086bn, expanding 22.3%, mainly because of the group’s ongoing capital expenditure projects.

Last year Semapa put its efforts in consolidating its operations in its two leading industrial segments – paper and pulp, and cement and derivatives. It also took up a position in the environmental sector, which is experiencing robust growth, through the acquisition of local ETSA.

Source: Portuguese News Digest