The fall will result from the company’s increased financial costs, as well as from losses with Cimpor’s stake in local bank BCP. Cimpor’s 48% owned company C+PA holds 2.2% in BCP.
Cimpor’s nine-month sales are seen to increase by 6.3% to EUR1.55bn, thanks to the good operating performance in Brazil, Morocco, Tunisia and Egypt, which should have more than compensated the poor results in Portugal.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are seen falling 7.7% to EUR 431.5m, on the back of the worsening margins in Portugal, Spain and South Africa.
