CIMPOR - Cimentos De Portugal, SGPS, S.A. Announces Consolidated and Parent Earnings Results for the Year Ended December 31, 2016
March 13, 2017
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CIMPOR - Cimentos De Portugal, SGPS, S.A. announced consolidated and parent earnings results for the year ended December 31, 2016. For the year, on consolidated basis, the company reported total operating income of EUR 1,909,396,000 against EUR 2,589,839,000 a year ago. Net operating loss was EUR 428,897,000 against income of EUR 313,269,000 a year ago. Loss before income tax was EUR 799,565,000 against EUR 92,819,000 a year ago. Net loss for the period attributable to equity holders of the parent was EUR 787,625,000 compared to EUR 71,231,000 a year ago. Basic and diluted loss per share was EUR 1.18 compared to EUR 0.11 a year ago. Cash flows from operating activities were EUR 189,572,000 against EUR 457,681,000 a year ago. Payments relating to tangible assets were EUR 116,087,000 against EUR 105,109,000 a year ago. Net Debt stood at EUR 3,381 million, 10% above the closing amount for 2015. This evolution was penalised by the unusual business contraction and by the effect of exchange fluctuations. EBITDA was EUR 352.6 million compared to EUR 525.7 million a year ago. LBIT was EUR 428.9 million compared to EBIT of EUR 313.3 million a year ago. Adjusted EBITDA was EUR 400 million. Total sales were EUR 1,842.8 million compared to EUR 2,492.7 million a year ago.
For the year, on parent basis, the company reported total operating income of EUR 3,823,000 against EUR 3,855,000 a year ago. Net operating loss was EUR 1,114,000 against EUR 1,953,000 a year ago. Loss before income tax was EUR 6,943,000 against EUR 14,439,000 a year ago. Net loss for the period was EUR 1,812,000 compared to EUR 9,470,000 a year ago. Basic and diluted loss per share were EUR 0.003 compared to EUR 0.014 a year ago. Cash flows from operating activities were EUR 1,652,000 against EUR 8,521,000 a year ago.
Intercement Portugal SA, formerly known as Cimpor Cimentos de Portugal SGPS SA (Cimpor) is a Portugal-based holding company engaged in the construction materials sector. The Company is primarily active in the production and sale of cement and clinker. It also involved in the manufacturing and marketing of ready-mix concrete and aggregates. The Company operates in Egypt, Cape Verde, Angola, Mozambique, South Africa, and Argentina, among others. The Companyâs investments are held essentially through two subsidiaries: Cimpor Portugal SGPS SA, which holds the investments in companies dedicated to the production of cement, concrete, aggregates and mortar in Portugal and Cimpor Inversiones SA, which holds the investments in companies operating abroad. The company is controlled by InterCement Participacoes SA.