Presentation of Results First 9 Months of 2016

Semapa - Sociedade de Investimento e Gestão, SGPS, S.A. Public Company

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

1 Highlights

Leading Business Indicators: Turnover -2.6%

1,570.8 1,529.5

9M 2015 9M 2016

In the first 9 months of 2016 the Semapa Group recorded a consolidated turnover of 1,529.5 million euros, a decrease of 2.6% from the same period in the previous year. Exports and foreign sales amounted to 1,190.5 million euros: 77.8% of turnover.

EBITDA 3.7%

Total EBITDA for the first 9 months of 2016 rose by about 3.7% in relation to the same period in the previous year, standing at 374.3 million euros.

The consolidated EBITDA margin stood at 24.5%,

361.1

million euros

374.3

1.5 p.p. higher than that in the previous year.

9M 2015 9M2016

8.7%

million euros

65.9

71.6

Net income

Net income totalled 71.6 million euros, up by 8.7%. The EBITDA increase, improved financial results and income tax comparing favourably, more than offset the effects of depreciation and

9M 2015 9M2016

provisions and the decrease in Navigator's stake after July 2015.

Leading Business Indicators

IFRS - accrued amounts (million euros)

9M 2016 9M 2015 Var. Q3 2016 Q3 2015 Var.

Turnover

Total EBITDA

EBITDA margin (%)

Depreciation and impairment losses Provisions (increases and reversals)

EBIT

EBIT margin (%) Net financial profit Profit before tax Income tax

Retained profits for the period

Attributable to Semapa shareholders

Attributable to non-controlling interests (NCI) Cash-flow

1,529.5

374.3

24.5%

(176.2)

(2.3)

195.8

12.8%

(57.0)

138.8

(22.7)

116.1

71.6

44.6

294.7

1,570.8 -2.6%

361.1 3.7%

23.0% 1.5 p.p.

(141.1) -24.9%

11.9

231.9 -15.6%

14.8% -2.0 p.p.

(104.1) 45.3%

127.7 8.7%

(26.4) 14.0%

101.4 14.6%

65.9 8.7%

35.5 25.5%

230.6 27.8%

506.7

133.9

26.4%

(57.8)

(0.2)

75.8

15.0%

(17.3)

58.5

(16.7)

41.8

24.3

17.5

99.8

541.1 -6.4%

137.1 -2.3%

25.3% 1.1 p.p.

(50.8) -13.8%

1.8

88.1 -13.9%

16.3% -1.3 p.p.

(53.8) 67.9%

34.3 70.6%

(5.3)

29.0 44.1%

14.6 66.1%

14.4 21.8%

78.0 28.0%

Equity (before NCI)

Net debt

30-09-2016

760.1

1,839.9

31-12-2015 Sep16

vs. Dec15

716.3 6.1%

1,803.0 2.0%

Notes:

  • Total EBITDA = operating profit + depreciation and impairment losses + provisions (increase and reversal)

  • Cash flow = retained earnings for the period + depreciation and impairment losses + provisions (increase and reversal)

  • Net debt = non‐current interest bearing debt (net of loan issue charges) + current interest‐bearing debt (including debts to shareholders) - cash and cash equivalents

  • In comparison with the same period of the previous year, it was impacted by the full consolidation of the Supremo Group on 1 July 2015, the change in The Navigator Company stake from 81.19% to 69.4% in July 2015; the latter only impacts the retained profits for the period attributable to Semapa shareholders

Consolidated Turnover Contribution -4.1%

million euros

1,204.3

1,155.4

9M 2015 9M 2016

1,570.8

-2.6% 1,529.5 2.3%

347.3

355.2

19.3

-1.9% 18.9 Paper and Pulp Cements Environment Total Consolidated EBITDA Contribution 2.6%

294.0 301.5

9M 2015 9M 2016

3.7%

361.1

374.3

million euros

-1.4%

68.0 67.0

-14.1%

115.6%

5.6 4.8 1.0

-6.4

Paper and Pulp Cements Environment Holdings Total Consolidated Net Income Contribution

-15.9%

103.9

87.4

9M 2015 9M 2016

42.4%-36.8%

62.1% 8.7%

65.9

71.6

million

2.5 1.6

-10.6

-6.1

-30.0

-11.4 Paper and Pulp Cements Environment Holdings Total

Semapa - Sociedade de Investimento e Gestão SGPS SA published this content on 28 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 October 2016 17:31:05 UTC.

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