Portugal: Cimpor’s sales rose by 2.6% to Euro921m in the first half of 2017 from Euro897m in the same period in 2016. Recovery in the Portuguese market buoyed its sales despite continued issues in Brazil, Egypt and Mozambique. Its earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 2.6% to Euro166m from Euro170m due to non-recurring costs. However, the cement producer said that, excluding these its earnings would have remained stable and would have even risen by 4% if CO2 permits management had been disregarded. Its cement sales volumes fell by 2.7% to 11.5Mt from 11.8Mt.
Cimpor grows sales in first half of 2017 on back of Portuguese recovery
Written by Global Cement staff
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