Cimentos De Portugal, SGPS, S.A. announced consolidated and parent earnings results for the year ended December 31, 2014. For the year, on the consolidated basis, the company reported turnover of EUR 2,603.7 million against EUR 2,624.5 million a year ago. EBITDA was EUR 645.6 million against EUR 691.8 million a year ago. Net profit was EUR 29.6 million against net loss of EUR 15.3 million a year ago. Free cash flow to the company was EUR 91.1 million against negative free cash flow of EUR 102.0 million a year ago. Net profit attributable to shareholders was EUR 27.7 million against net loss of EUR 19.4 million a year ago. Operating income (EBIT) was EUR 448.8 million against EUR 487.0 million a year ago. Pre-tax income was EUR 77.3 million against EUR 80.1 million a year ago. Total operating income was EUR 2,648,960,000 against EUR 2,713,095,000 a year ago. Diluted earnings per share of operations were EUR 0.04 against LPS of EUR 0.03 a year ago. Cash flows from operating activities were EUR 548,181,000 against EUR 443,748,000 a year ago. Payments for tangible assets were EUR 195,883,000 against EUR 331,057,000 a year ago. Payments for intangible assets were EUR 2,992,000 against EUR 6,316,000 a year ago. Net financial debt, which increased slightly from EUR 3,427 million to EUR 3,439 million a year ago.

For the year, on the separate basis, the company reported total operating income of EUR 3,906,000 against EUR 16,926,000 a year ago. Net operating loss was EUR 2,369,000 against operating income of EUR 8,878,000 a year ago. Profit before income tax was EUR 4,060,000 against EUR 16,843,000 a year ago. Net profit for the year was EUR 869,000 against EUR 7,543,000 a year ago. Diluted earnings per share were EUR 0.00 against EUR 0.01 a year ago. Cash flows used in operating activities was EUR 19,199,000 against EUR 40,135,000 a year ago.

The company expects to increase free cash flow in 2015 on the value achieved in 2014.