Cement News tagged under: Portugal
Currency movements depress Cimpor profits22 May 2014, Published under Cement NewsCimpor has reported an adjusted first-quarter turnover 6.8 per cent lower at EUR592.5m and the EBITDA declined by 9.7 per cent to EUR133.1m. Measured in local currency, however, there was a profit growth rate of 15.3 per cent, but the euro strengthened considerably against most other currencies in which Cimpor trades. The trading profit (EBIT) was 8.8 per cent lower at EUR 89.8m. The net financial jumped from EUR28.9m to EUR 92.9m to give a pre-tax loss of EUR3.1m, compared with a profit o... |
Cimpor achieves record cement sales and profits03 March 2014, Published under Cement NewsOn a comparative basis, turnover at Cimpor increased by 25.5 per cent last year to EUR2624.5m and the EBITDA rose by 45.5 per cent to EUR691.8m. The trading profit emerged at EUR487m compared with a loss of EUR7.2m in the previous year on an integrated basis, or a EUR305.8m proforma profit on a restated basis, or a 59.3 per cent increase. The net financial charge, on an integrated basis, rose by 23.2 per cent to EUR406.9m, giving a pre-tax profit of EUR80.1m and at the net attributable le... |
South America now drives Cimpor27 November 2013, Published under Cement NewsTurnover for Cimpor during the first nine months of the year emerged 23.4 per cent higher as the additional assets in Argentina, Brazil and elsewhere more than made up for the assets sold, predominantly in the Mediterranean rim. The EUR1984.3m turnover was 69.5 per cent higher than the EUR1170.6m shown for the first nine months of last year. EBITDA improved 14.2 per cent to EUR481.5m on a comparable basis and 35.5 per cent higher than the EUR355.4m shown a year ago. There has been no in... |
Cimpor to refocus Portuguese operations towards exports16 October 2013, Published under Cement NewsWith Portuguese cement demand remaining subdued, Cimpor is trying to reorientate cement output from its domestic operations towards export markets, CEO, Ricardo Lima, has said. Speaking to economic daily Diario Economico, Mr Lima said that the company is trying to transform Portugal to an export platform. The company currently has an installed cement capacity of some 9Mt in the country while domestic demand stands at just 1.5Mta. Exports volumes have doubled in the past two years with mar... |
S&P lifts Cimpor outlook from stable to positive05 September 2013, Published under Cement NewsStandard & Poor’s has reaffirmed its ‘BB/B’ long and short term rating on Cimpor and InterCement, revising the outlook from stable to positive. The change follows the Outlook revision from stable to positive, keeping a ‘BB’ rating of Camargo Correa, which indirectly controls 94.2 per cent of Cimpor share capital. According to the rating’s agency, the outlook revision to positive based on the successful integration of InterCement and Cimpor assets and on the expectation that the new cement ... |
Semapa's 1H13 turnover declines03 September 2013, Published under Cement NewsIn the first half of 2013, Semapa reported that turnover from its cement division fell 3.2 per cent YoY to EUR233.5m, essentially due to a drop in turnover in Portugal and Angola. EBITDA in the cement business unit stood at EUR28.2m, up by 0.1 per cent on the same period in 2012. In the second quarter, EBITDA from cement business totalled EUR16.2m, up by 34.4 per cent from the previous quarter. This increase was largely due to a significant increase in sales in cement business in Portugal... |
Cimpor boosted by South American operations28 August 2013, Published under Cement NewsCimpor's underlying first half turnover improved by 19.6 per cent to EUR1299.8m as the company is boosted by its new South America operations but Portuguese losses more than double. EBITDA for the six month period advanced by a more modest 6.3 per cent to EUR284.2m. Ignoring non-recurring charges, the EBITDA would have been some 19 per cent ahead a EUR331m, while the improvement on the re-stated last year numbers was 28.1 per cent. On this basis, the trading profit increased by 34.6 per c... |
Cimpor starts exporting from Portugal to northern Brazil15 July 2013, Published under Cement NewsCimpor has started its first exports to northern Brazil from Portugal, according to local press reports. The first shipment of 28,000t of cement has already reached the port of Manaus, northwestern Brazil, Valor Economico reported. Camargo Correa's subsidiary InterCement, which owns Cimpor, plans to import some 70,000t of Portuguese cement this year. Apart from Brazil, Cimpor seeks to expand its exports to Algeria, Togo and Paraguay amid the shrinking sales in the domestic market. |
Galilei Group plans Angolan investment02 July 2013, Published under Cement NewsThe Galilei Group of Portugal plans to enter the Angolan market as part of a joint venture, its chief executive Fernando Lima told local press. Preliminary work on the Cimentos Nacionais Angola (CNA) project has begun, Mr Lima told financial daily Diário Económico, adding that the cement plant will be constructed in partnership with HeidelbergCement. Mr Lima said that construction of the 2Mta facility would begin this year and is expected to cost around US$370m. |
Semapa to focus on Brazilian investment05 June 2013, Published under Cement NewsSemapa, the Portuguese holding company that controls cement maker Secil, has said it is focussed on constructing a new plant in Brazil as domestic demand continues to wane. “At this moment we are focused on building the plant in Brazil,” Paredes said. “There is a growing tendency for our cement sales from outside Portugal to increase,” Bloomberg quoted Semapa board member Jose Miguel Paredes as saying. Semapa entered the Brazilian market by acquiring a 50 per cent stake in local ceme... |