CIMPOR - Cimentos De Portugal, SGPS, S.A. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2017
May 23, 2017
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CIMPOR - Cimentos De Portugal, SGPS, S.A. reported consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, sales and services rendered were EUR 452,871,000 against EUR 454,133,000 a year ago. Net operating income was EUR 36,655,000 against EUR 35,556,000 a year ago. Loss before income tax was EUR 25,423,000 against EUR 40,268,000 a year ago. Net loss for the period attributable to equity holders of the parent was EUR 34,398,000 against EUR 40,740,000 a year ago. Loss per share of operations – basic and diluted was EUR 0.05 against EUR 0.06 a year ago. Cash flows used in operating activities was EUR 33,798,000 against EUR 18,181,000 a year ago. Payments relating to tangible assets were EUR 43,391,000 against EUR 28,281,000 a year ago. Payments relating to intangible assets were EUR 709,000 against EUR 97,000 a year ago. Adjusted EBITDA was EUR 89 million against EUR 81 million a year ago. Operational cash flow (EBITDA) was EUR 84.1 million against EUR 80.1 million a year ago. Operating Income (EBIT) was EUR 36.7 million against EUR 35.6 million a year ago. Net debt increased 4% to EUR 3,509 million.
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.