Cimpor is expected to report next Friday firm top line growth thanks to its consolidation of recent acquisitions, though this is expected to weigh on the company’s cost base, analysts said.
They noted, however that the focus will be on possible M&A movements in the stock after recent major changes to Cimpor’s shareholder structure, in the form of Lafarge’s stake hike to about 17 per cent from about 12 per cent previously and a reduction in Credit Suisse’s stake.
’We expect market sentiment to remain driven by possible changes in the shareholder structure following Lafarges announcement,’ an analyst at a leading European bank said.
Turning to first half results, analysts said that additional sales from recent acquisitions, such as Turkish cement maker YLOAC in February, should offset negative effects from currency depreciation in some of Cimpor’s markets, as well as an ongoing weak domestic sector.
Forecasts for net profit range from EUR128m at Lisbon Brokers to EUR138m at UBS, compared to EUR135.5m a year earlier.
EBITDA is seen rising to EUR283-298m from EUR279.4m on sales of EUR898-957m, up from EUR824,6m.