Cimpor posts €204.8mn losses in H1 2012

During the first half of 2012, the Portuguese cement company Cimpor registered losses of €204.80 million compared to profits of €132 million during the same period the previous year. According to the company this is directly linked to the economic crisis in Spain and Portugal, which had an effect on its accounts of €290 million. Without those adjustments, Cimpor would have registered a €85 million profit. Additionally, half-year revenues decreased by 5.5% to €1.086 billion

September 3, 2012 Read time: 1 min

During the first half of 2012, the Portuguese cement company 1347 Cimpor registered losses of €204.80 million compared to profits of €132 million during the same period the previous year.

According to the company this is directly linked to the economic crisis in Spain and Portugal, which had an effect on its accounts of €290 million. Without those adjustments, Cimpor would have registered a €85 million profit. Additionally, half-year revenues decreased by 5.5% to €1.086 billion due again to the company’s performance in the Iberian Peninsula, in China and in Turkey, and despite the good performance in Brazil and Mozambique.

Moreover, the company’s EBIDTA I(earnings before income, taxation, depreciation and amortisation) decreased by 15.3% to €267.4 million, while its debt with the banks went down by €85 million to €1.537 billion.

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Cimpor

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