Cimpor's 1H cement sales rise, but volumes drop

Cimpor'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 of amounted to EUR7m. The net debt at the end of June was 3.7 per cent higher than a year earlier at EUR3693m.

Group cement deliveries declined by 5.7 per cent to 14.07Mt. Record volumes sold in Argentina and domestic sales grew in Paraguay and in Portuguese domestic deliveries and in Mozambique, but volumes decreased in Egypt, Brazil and South America. EBITDA declined by 43.3 per cent in Brazil to EUR82.3m and Africa by 17.5 per cent, but Argentina, Paraguay and Portugal showed strong profit growth.