Cimpor first-quarter boosted by new profile

Cimpor first-quarter boosted by new profile
Published: 27 May 2013

Tagged Under: Cimpor Portugal Results 

Cimpor has reported a 22 per cent rise in turnover and a 15.2 per cent YoY increase in EBITDA for the first quarter of 2013 mainly due to the reshuffling of the group's profile. The performance of the new set of assets recently brought in by InterCement resulted in a contribution to consolidated EBITDA that was four times higher than that of the assets handed over by Cimpor in the asset swap concluded at the end of 2012.

"The inclusion of operations in new countries such as Argentina and Paraguay, expanded geographic distribution in Brazil, commercial performance in Mozambique and an increase in the Trading activity were positive notes," Cimpor said in a statement. On the other hand, the difficult economic climate in its domestic market of Portugal, increased fuel costs in Egypt and competition from imports in South Africa held back results from an even better performance, the Portuguese cement major noted.

To continue reading this story and have 100% free access to the CemNet.com website, please Register for a subscription to International Cement Review or Login