Cimentos De Portugal, SGPS, S.A. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
August 28, 2014
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Cimentos De Portugal, SGPS, S.A. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total operating income was 657,621,000 against 687,343,000 a year ago. Net operating income was 107,576,000 against 78,472,000 a year ago. Profit before income tax was 23,979,000 against loss before income tax of 120,599,000 a year ago. Net profit for the period for continuing operations was 11,735,000 or 0.02 basic and diluted per share against net loss for the period for continuing operations of 132,379,000 or 0.20 basic and diluted per share a year ago. Cash flows from operating activities were 128,184,000 against 26,666,000 a year ago. Payments relating to tangible assets were 33,201,000 against 67,868,000 a year ago. Payments relating to intangible assets were 1,520,000 against 1,000 a year ago. EBITDA was 155.7 million against 136.9 million a year ago.
For the six-month period, the company reported total operating income was 1,254,644,000 against 1,332,362,000 a year ago. Net operating income was 197,341,000 against 176,856,000 a year ago. Profit before income tax was 20,833,000 against loss before income tax of 51,104,000 a year ago. Net profit for the period for continuing operations was 2,211,000 against net loss for the period for continuing operations of 83,608,000 a year ago. Cash flows from operating activities were 153,120,000 against 80,543,000 a year ago. Payments relating to tangible assets were 102,534,000 against 178,780,000 a year ago. Payments relating to intangible assets were 2,264,000 against 252,000 a year ago. EBITDA in the first half of 2014 stood at 288.7 million recording a year on year increase of 1.6% despite a foreign exchange impact of 64.7 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.