Cement News tagged under: Cimpor
Cimpor01 November 2018, Published under Cement NewsThe Camargo Correa subsidiary InterCement, formerly trading as Cimpor, has agreed to sell its Portuguese and Cape Verde assets to the Turkish group Oyak. Having previously considered selling a 49 per cent interest in all of its African and European activities, InterCement has now decided to sell the Portuguese and Cape Verde assets in their entirely. These consist of three integrated cement plants with a combined cement capacity of 9.1Mta, two grinding plants, 40 concrete batching plants ... |
Loma Negra to raise capital during positive Argentine climate15 September 2017, Published under Cement NewsArgentina's cement market has seen a revival in the last year and this week further positive indicators have been released with consumption rising by 7.4 per cent YoY during August 2017 to 1.122Mt, according to data from Asociacion de Fabricantes de Cemento Portland (AFCP). Cimpor (an InterCement Company - itself part of the Carmago Correa group), which operates in Argentina via its Loma Negra subsidiary, also commented in its 1H17 results that cement consumption in Argentina is performing ... |
Cimpor's 1H volumes down 2.7 per cent14 September 2017, Published under Cement NewsCimpor reported that first-half 2017 EBITDA growth in Argentina, Paraguay and South Africa, and to a lesser extent Portugal, mitigated adverse operating environments in the company’s other group regions. Sales of EUR921m (US$1.096bn) rose 2.6 per cent YoY. An average price adjustment of 10 per cent offset lower volumes. EBITDA of EUR166m was 2.6 per cent lower compared to 1H16 on the back of non-recurring costs. Excluding these items, EBITDA remained stable. Cement and clinker volumes... |
Loma Negra board to consider equity offering13 June 2017, Published under Cement NewsCimpor announced that the board of directors of its subsidiary, Loma Negra (Argentina) has called for an Extraordinary General Meeting (EGM) to consider the necessary moves required for it to pursue an equity offering on the local and international capital markets. The move is among the initiatives undertaken by Cimpor “to reinforce its capital structure,” the parent company said in a statement. The EGM will be held on 3 July in Olavarría, Argentina. |
Cimpor EBITDA recovers by 5%25 May 2017, Published under Cement NewsCimpor’s first quarter turnover eased by 0.3 per cent to EUR452.9m, while the EBITDA recovered by five per cent to EUR84.1m. The trading profit (EBIT) improved by 3.1 per cent to EUR36.7m. The net financial charge came down by 18.1 per cent to EUR62.1m to give a pre-tax loss of EUR25.4m, compared with EUR40.3m a year earlier. At the net attributable level there was a loss of EUR34.4m, compared with a loss of EUR40.7m a year earlier. The net debt was 10.7 per cent higher at EUR3,3509m and... |
Cimpor books larger loss in 201621 March 2017, Published under Cement NewsWith declining volumes in Cimpor's three most important markets. In Brazil, Argentina and Portugal, the turnover fell by 26.1 per cent in 2016 to EUR1842.8m and EBITDA came off by 32.9 per cent to EUR352.6m. After a EUR584m impairment charge against the goodwill carried in Brazil, the total depreciation and amortisation charge was more than trebled to EUR781.5m, giving a trading loss of EUR428.9m compared with a profit of EUR313.3m in the previous year. After a net financial charge 8.7 pe... |
Portugal: Cimpor to resume cement exports from Loulé13 January 2017, Published under Cement NewsCimpor's Loulé plant is due to resume exports via the Algarve port of Faro, Portugal. The Algarve port of Faro, which has seen no cargo movement whatsoever since June 2016 when Cimpor, the port’s only customer, stopped production at its local Loulé plant. The Loulé plant is due to resume activity in February, reports The Portugal news Online. |
Cimpor hit by the weakness in volumes and currencies18 November 2016, Published under Cement NewsCimpor's nine-month turnover fell by 28.5 per cent to EUR1379.4m and EBITDA dropped by 33.1 per cent to EUR264.6m as cement deliveries in Portugal, Brazil and Argentina declined by 35.7 per cent, 19.8 per cent and 11.7 per cent, respectively, with single-digit reductions being seen in South Africa and Egypt. Mozambique saw shipments improve by 11.2 per cent and Paraguay by 10.8 per cent. A trading loss of EUR332.3m was declared compared with a trading profit (EBIT) of EUR248.5m a year ear... |
Cimpor02 September 2016, Published under Cement NewsCimpor's first-half turnover dropped by 31.1 per cent to EUR897.3m, while EBITDA declined by 39.1 per cent to EUR170.1m. The amortisation and provision charge jumped from EUR100.6m to EUR527.9m as a result of a EUR433m good-will impairment charge relating to Brazil. This led to the trading result falling from a profit of EUR178.6m to a EUR357.7m loss and after a 9.2 per cent increase in the net financial charge to EUR182.2m there was a pretax loss of EUR539.9m against a profit of EUR11.8m. A... |
Cimpor takes massive provisions in Brazil02 September 2016, Published under Cement NewsCimpor's first-half turnover dropped by 31.1 per cent to EUR897.3m, while EBITDA declined by 39.1 per cent to EUR170.1m. The amortisation and provision charge jumped from EUR100.6m to EUR527.9m as a result of a EUR433m good-will impairment charge relating to Brazil. This led to the trading result falling from a profit of EUR178.6m to a EUR357.7m loss and after a 9.2 per cent increase in the net financial charge to EUR182.2m there was a pretax loss of EUR539.9m against a profit of EUR11.8m. A... |