Cement News tagged under: Cimpor
Falling profits in South America, Egypt and Portugal hit Cimpor results01 June 2016, Published under Cement NewsCimpor 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 gear... |
Cimpor books major loss in 201526 February 2016, Published under Cement NewsCimpor's turnover declined by 4.3 per cent in 2015 to EUR2492.7m while EBITDA came off by 18.6 per cent to EUR525.7m. The trading profit emerged 30.2 per cent lower at EUR313.3m and the net financial charge increased by 9.3 per cent to EUR406.1m, giving a pretax loss of EUR92.8m compared with a profit of EUR77.3m in the previous year. A EUR12.4m tax credit helped to reduce the net attributable loss to EUR71.2m compared with a profit of EUR27.2m in the previous year. Net debt at the end of... |
Brazil: Cimpor temporarily suspends Parana plans20 January 2016, Published under Cement NewsCimpor has temporarily suspended plans to build a plant in Parana state, Brazil, due to the economic slowdown in the country, company president Ricardo Lima said in a recent interview. Cimpor originally announced plans for the new plant in Itaiacoca district in 2011.The project was set to have an initial production capacity of about 1.2Mta, and generate approximately 1000 direct and indirect jobs. |
Cimpor sells a minority stake in Paraguay producer31 December 2015, Published under Cement NewsCimpor has sold a 16 per cent stake in Ygauazu Cementos of Paraguay for a total of EUR32m, the company announced in a statement. The sale reflects a 14x EBITDA multiple. Cimpor retains a controlling stake with a 51 per cent participation, with the remaining share capital to be held by already existing Paraguayan partner Concret Mix. The sale of the minority stake is among many of the self-help measures being undertaken by Cimpor to strengthen its capital structure and increase profitabili... |
Cimpor sells quarries in Brazil30 December 2015, Published under Cement NewsPolimix Concreto, Ltda., a Brazil-based producer of cement and concrete products, has acquired the Guarulhos and Barueri quarries in Sao Paulo, Brazil from Cimpor - Cimentos de Portugal SGPS SA for BRL100m (US$25.35m). The transaction will allow Cimpor to strengthen its capital structure, increase profitability, and to focus on its strategic development. |
Cimpor hit by the weakness in Brazil19 November 2015, Published under Cement NewsCimpor's nine month turnover declined by 1.2 per cent to EUR1,927.9m and the EBITDA came off by 14.2 per cent to EUR395.1m as cement deliveries in Brazil, Egypt and South Africa fell by 15.8 per cent, 13.8 per cent and 7.7 per cent respectively. Argentina, on the other hand, improved shipments by 9.3 per cent. The trading profit (EBIT) came down by 22.7 per cent to EUR248.5m and the net financial charges declined by 4.6 per cent to EUR274m, to give a pre-tax loss of EUR25.5m compared with... |
Cimpor's 1H cement sales rise, but volumes drop19 August 2015, Published under Cement NewsCimpor's first-half turnover increased a 4.8 per cent to EUR1302.8m, while EBITDA declined by 3.3 per cent to EUR279.2m. The amortisation and provision increased by 10.1 per cent to EUR100.6m and the trading profit declined by 9.5 to EUR178.6m and after a 5.5 per cent decline in the net financial charge to EUR166.8m led to a pre-tax profit of a 43.4 per cent to EUR11.8m. After a 32.2 per cent increase in the improve tax and a 5.8 per cent decline in the interim loss the net interim loss o... |
Brazil: Cade issues fines of US$934m30 July 2015, Published under Cement NewsBrazil's antitrust watchdog, Cade, has ordered six cement makers named in a price-rigging case to pay a combined BRL3.1bn (US$934m) in fines within a month in a landmark decision that also orders asset disposals. Under terms of the ruling, Votorantim must pay BRL1.5bn in fines and Cimpor BRL297m. Cade fined Intercement Brasil BRL241m and Itabira BRL411m. Holcim's fine amounts to BRL508m and Itambé is required to pay BRL88m. The decision announced on Wednesday gives the companies a one-y... |
Cimpor announces construction of new Mozambique cement plant24 June 2015, Published under Cement NewsCimpor subsidiary Cimentos de Moçambique announced yesterday it commenced the process of building a new integrated cement plant in Nacala, situated on the northern coast of the southern African country . Cimentos de Moçambique owns the country's only integrated cement plant, situated in Matola, as well as four grinding units. The company currently has a cement production capacity of 3.1Mta and a workforce of 1200. "The new capacity to be installed increases the efficiency of the r... |
Weaker Brazil markets depress Cimpor's profits20 May 2015, Published under Cement NewsCimpor has reported a first quarter turnover 7.4 per cent higher at EUR636.6m but the EBITDA declined by 7.2 per cent to EUR123.4m. The trading profit (EBIT) was 17.6 per cent lower at EUR74m. The net financial charge declined by 18.9 per cent to EUR75.3m to give a pre-tax loss of EUR1.3m, compared with EUR3.1m a year earlier. At the net attributable level there was a loss of EUR17.2m, compared with a loss EUR10.8m a year earlier. Net debt was 0.6 per cent lower at EUR3522m, but the gear... |