Profits of Portuguese cement group Cimpor in Mozambique rise 13 pct in 2005

17 March 2006

Lisbon, Portugal, 17 March – Profits earned by Portuguese cement group Cimpor in Mozambique rose 13 percent year on year to 6.8 million euros in 2005, following a significant increase in sales, the company has said.

According to figures published by Cimpor Thursday, Mozambique had the best performance of its nine markets in terms of EBITDA (earnings before interest, taxation, depreciation and amortization), and was only surpassed by Spain, where this indicator showed growth of 18.6 percent, to 102.9 million euros.

Cimpor, which is the market leader in Mozambique, with a market share of almost 85 percent, sold 583,000 tons of cement and clinker last year, a 2.8 percent increase on the previous year.

Currently, the company has a factory in Matola and two mills in Dondo and Nacala.

In Brazil where Cimpor has been operating since 2003, EBITDA fell by almost 20 percent to 62.9 million euros, due to price decreases on cement.

The group posted overall profit of 266 million euros, 3.9 percent more than in 2004 thanks to increased turnover, and surpassed analysts’ expectations.

Production volume in 2005 kept the Portuguese group amongst the ten largest manufacturers of building materials in the world. (macauhub)