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| CIMPOR announces results for 2008 Portuguese cement firm Cimentos de Portugal, SGPS, S.A. (CIMPOR) said its consolidated net profit after minority interests was EUR 219.4 million in 2008, representing a decrease of around 28% on the previous year. In operational terms, and despite the highly negative overall trend witnessed in particular in the markets of Spain (where cement consumption fell by nearly 24%) and Turkey (affected by a sharp decline in the cement price), the group's EBITDA, after the recovery observed in the final quarter, was almost EUR 586 million, equivalent to a fall of only 3.4%. In spite of the decline in consumption in the markets of Portugal (-8.9%) and, in particular, Spain (-23.6%) cement and clinker sales of CIMPOR Group, benefiting from the extension of the Group's consolidation perimeter, amounted to around 26.8 million tonnes in 2008, 9.2% up on 2007. Concrete sales, which were heavily penalised by the crisis of the Iberian market, ended the year 1.1% below the 2007 sales, due to the markedly positive development in the other markets. CIMPOR's consolidated turnover in 2008 was around EUR 2,100 million, equivalent to an increase of more than 6%. write your comments about the article :: © 2009 Construction News :: home page |