Cimpor have released their integrated financial results for 3Q15.
The accumulated operating results in 3Q15 showed the impact of the contraction of the Brazilian market, which was partly offset by the virtues of geographic diversification.
Sales came to €1.9 billion, a decrease of 1.2% from 2014 and reflecting a 7.2% slowdown in the volume of cement and clinker shipped. This, combined with the effect of the unfavourable exchange rate, was virtually nullified by the 6.6% rise in the average price of cement.
The EBITDA margin was 20.5%. EBITDA was €395.7 million, shrinking by 14.2% due to the simultaneous and atypical combination of a range of economic challenges and one-off market situations in a context of rising energy costs seen in the sector. Analysis by geographical area indicates that despite the fact that the accumulated results to September were restricted by the adversity in Brazil, Egypt and Mozambique, EBITDA growth of above 50% was jointly recorded from the other geographical regions. Cimpor continues the implementation of a package of adjustment measures, in response to the current economic situation in Brazil. These measures include the optimisation of production costs and streamlining the local structure, in particular the closure of two grinding units and four concrete units.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/23112015/cimpor-3q15-results-49/