Cement News tagged under: Portugal
Cimpor first-quarter boosted by new profile27 May 2013, Published under Cement NewsCimpor has reported a 22 per cent rise in turnover and a 15.2 per cent YoY increase in EBITDA for the first quarter of 2013 mainly due to the reshuffling of the group's profile. The performance of the new set of assets recently brought in by InterCement resulted in a contribution to consolidated EBITDA that was four times higher than that of the assets handed over by Cimpor in the asset swap concluded at the end of 2012. "The inclusion of operations in new countries such as Argentina and ... |
Cimpor: restructured for growth25 March 2013, Published under Cement NewsFollowing the restructuring of Cimpor and asset swaps with InterCement Austria Holding, the Portuguese cement major is looking forward to an increased footprint in Latin America and Africa, two geographic areas with high growth potential. Essentially, Cimpor acquired the assets held by Camargo Correa, InterCement Austria's ultimate parent, in Argentina, Brazil, Paraguay in exchange for Cimpor's assets in Morocco, Tunisia, Turkey, India, China, Peru, Spain, which were subsequently transfer... |
Cimpor's restructuring gives temporary lower numbers19 March 2013, Published under Cement NewsCimpor's turnover from continuing activities declined by an underlying 3.1 per cent to EUR1510m and compares with the actual EUR2275.3m shown in 2011 on the old structure. The comparable EBITDA eased by 3.3 per cent to EUR464.7m and compares with an actual EUR616.0m. The trading profit came off by 4.8 per cent from EUR321.2m to EUR305.8m, whereas a year ago EUR372.8m was shown. Net financial charge which a year earlier had amounted to EUR80.9m was re-defined as EUR46.8m and almost tr... |
Portugal’s cement demand drops 26.9% in 201205 February 2013, Published under Cement NewsCement consumption in Portugal fell by 26.9 per cent last year to lows not seen since 1973. According to a report released today by the Portuguese Federation of Construction Industry and Public Works (Fepicop), consumption last year reached 3.3Mt in 2012. The industry body said the crisis in the construction sector has caused significant reductions in cement consumption, the number of workers and the licences for apartment buildings. The unemployment figures reached 101,449 people by ... |
Cimpor and InterCement announce Brazil asset merger05 February 2013, Published under Cement NewsCimpor’s board of directors has approved the merger of two of its subsidiaries in Brazil, namely Cimpor Cimentos do Brasil and InterCement Brasil, Cimpor announced. Both companies are fully and indirectly owned by Cimpor, which itself is controlled by Brazil's Camargo Corrêa. The merger was approved on 30 January 2013. "The merger of these two companies in the Cimpor universe will make it possible to create joint value, promoting synergies, leading to improved operating efficiency and quali... |
Cimpor announces members of board of directors, Portugal07 January 2013, Published under Cement NewsCimpor announced that Luiz Roberto Ortiz Nascimento and André Pires Oliveira Dias have been appointed members of the Board of Directors, following the resignation of Erik Madsen and Walter Schalka. |
Euroconstruct downgrades European construction forecasts16 December 2012, Published under Cement NewsEuroconstruct has reduced its forecasts for European construction output for both for this year and next, with a slow recovery expected for 2014. The forecasts released at its twice-yearly conference for the 19 countries under its coverage contain significantly reduced estimates compared to those published in June 2012. The research group now expects the volume of European construction output to decline by 4.7 per cent this year, 2.6 percentage points (pp) lower than it predicted six mont... |
Mozambique is Cimpor’s star performer04 December 2012, Published under Cement NewsFor the first nine months of 2012, Cimpor’s cement and clinker shipments were 9.4 per cent lower at 18.82Mt, as volumes dropped by just over one -third both in Spain and China while Mozambique proved to be the company's star performer. The assets to be retained by Cimpor as a result of the agreement between the major shareholders for splitting the Cimpor assets, were actually 0.7 per cent higher at 10.97Mt. Turnover for the nine months to September 2012 was down by 1.6 per cent to €1170.... |
Iberian impairments push Cimpor into a loss31 August 2012, Published under Cement NewsCimpor’s first half turnover declined by 5.5 per cent to €1086.8m, as the deterioration in Spain, Portugal and China could not be compensated for by improvements elsewhere. EBITDA was down by 15.3 per cent to €267.4m. The deterioration on the Iberian peninsula led to provisions of €270m being taken in respect of the Spanish assets and a further €20m against the downstream assets in Portugal, giving a total value adjustment charge of €407.2m compared with €117m. This led to a trading loss ... |
Brazilian market adjustments16 July 2012, Published under Cement NewsThe recently-approved takeover of Cimpor by Brazilian conglomerate Camargo Correa will not only lead to the reorganisation of the Portuguese cement major's operations, but is also set to alter the make-up of the Brazilian cement market. Last month, Camargo Correa succeeded in acquiring a controlling stake in Cimpor with a price tag of EUR2.5bn, raising its share from 33 to 94.8 per cent. Camargo is to integrate its South American and Angolan cement operations into Cimpor and according to ... |