Cimpor Q1’ 09 profit falls 9.9% YoY

Cimpor Q1’ 09 profit falls 9.9% YoY
15 May 2009

Cimpor posted a net profit of EUR 54.6m (US$74.5m) for the first quarter of 2009, which was a 9.9% YoY fall.

Cimpor decided to release its results on May 14 instead of May 27 as planned because the figures are positive, the company said. Amid the adverse conjuncture, many of the big international cement players registered a significant deterioration in the operating results or even posted losses, it added.

The company’s consolidated profit, after minority interests, dropped 11% to EUR51.2m.

Its revenue rose by 3.5% to EUR 481.6m and the earnings before interest, tax, depreciation and amortisation (EBITDA) edged up 0.7% to EUR 135 million.

In the context of the grave economic crisis, the EBITDA figure shows the excellence of Cimpor’s expansion and internationalisation strategy as well as the resistance of its portfolio to the deterioration of the conjuncture, the firm added.

Published under Cement News