HALF-YEARLY ACCOUNTS lST HALF 20l6

HALF-YEARLY ACCOUNTS

PART l MANAGEMENT REPORT 3

PART 2 DECLARATION REQUIRED UNDER ARTICLE 246.l C) OF THE

SECURITIES CODE 36

PART 3 DISCLOSURES REQUIRED BY SUB-PARAGRAPHS A) AND C) OF ARTICLE 9 AND 7 OF ARTICLE l4 OF SECURITIES MARKET COMMISSION (CMVM) REGULATION NO.

5/2008..............................38

PART 4 CONSOLIDATED FINANCIAL STATEMENTS 42

PART 5 LIMITED REVIEW REPORT ON THE CONSOLIDATED HALF YEAR INFORMATION...................l4l

Semapa - Sociedade de lnvestimento e Gestao, SGPS, S.A. Public Company

Av. Fontes Pereira de Melo, nQ 14, 10Q, 1050-121 Lisboa Companies Registry and Corporate Person no.: 502 593 130 Share Capital: € 81,270,000

PART l

MANAGEMENT REPORT

CONTENTS

  1. HIGHLIGHTS 5
  2. MAIN EVENTS 8
  3. OPERATIONAL PERFORMANCE 9
  4. PAPER AND PULP BUSINESS AREA 10

    1. Leading Business lndicators 10

    2. Activity Analysis 11

    3. CEMENT AND DERIVATIVES BUSINESS AREA 15

      1. Leading Business lndicators 15

      2. Activity Analysis 16

        1. Portugal 18

        2. Lebanon 19

        3. Tunisia 19

        4. Angola 20

        5. Cape Verde 21

        6. Brazil 22

        7. ENVIRONMENT BUSINESS AREA 24

          1. Leading Business lndicators 24

          2. Activity Analysis 25

          3. CONSOLIDATED FINANCIAL PERFORMANCE 26

            1. lndebtedness 26

            2. Financial Results 27

            3. Consolidated Net lncome 27

            4. SHARE PRICE PERFORMANCE 29
            5. SUBSEQUENT EVENTS 30
            6. OUTLOOK 31

            Semapa - Sociedade de Investimento e Gestão SGPS SA published this content on 21 September 2016 and is solely responsible for the information contained herein.
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