Falling profits in South America, Egypt and Portugal hit Cimpor results

Falling profits in South America, Egypt and Portugal hit Cimpor results
Published: 01 June 2016

Tagged Under: business results Cimpor Portugal 

Cimpor has reported a first-quarter turnover 28.7 per cent lower at EUR454.1m and EBITDA fell by 35.1 per cent to EUR80.1m. The trading profit (EBIT) dropped by 51.9 per cent to EUR35.6m. The net financial charge edged ahead by 0.7 per cent to EUR75.8m to give a pretax loss of EUR40.3m, compared with EUR1.3m a year earlier. At the net attributable level there was a loss of EUR40.7m, compared with a loss of EUR17.2m a year earlier. The net debt was 10 per cent lower at EUR3,170m, but the gearing level was in the stratosphere, given that the equity was just EUR215m.

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