* Cotações com atraso superior a 15 minutos via Bats CHI-X Europe e NASDAQ Basic
2 Nov 2018
Semapa reported yesterday after market close its 3Q18 results.
3Q18 net income stood at €38.4mn (vs. €34.7mn in 3Q17) reflecting the higher EBITDA y/y. EBITDA margin improved by 0.7pp y/y to 24.9% in 3Q18.
Revenues reached €567.9mn (+6.5%y/y). Navigator had already reported its 3Q18 results. Navigator recorded a turnover of €435.4mn in 3Q18 (+9.6%y/y). Turnover in the Cement unit stood at €126.4mn in 3Q18 (-2.6%y/y).
3Q18 consolidated EBITDA rose by 9.6%y/y to €141.3mn, reflecting the favourable performance in the Pulp & Paper business. Below the EBITDA, the financial burden rose from €8.8mn in 3Q17 to €16.0mn in 3Q18.
Turnover in the cement unit declined by 2.6%y/y in 3Q18 to €126.4mn. Turnover in Portugal rose by 2.0%y/y in 9M18 (vs. +1.8%y/y in 1H18), helped by the rise in average sales price. The more favourable mix impacted export revenues positively. Turnover for the combined operations in Tunisia in 9M18 increased by 5.6%y/y (vs. +1.9%y/y in 1H18), or +24%y/y excluding the negative effect of the depreciation of the Tunisian Dinar against the US dollar. In Lebanon, turnover on combined operations fell by 8.6%y/y in 9M18 (vs. -12.4%y/y in 1H18), negatively affected by the depreciation of the USD against the Euro. In Brazil, turnover of total operations fell by 13.0%y/y in 9M18 (vs. -14.2%y/y in 1H18), affected by the depreciation of the BRL against the Euro.
EBITDA in the cement business stood at €26.0mn in 3Q18, up by 3.5%y/y. In Portugal, EBITDA for total operations increased by 2%y/y in 9M18 (vs. -3.7%y/y in 1H18), reflecting the higher sales price in the domestic market. In Tunisia, EBITDA from business operations was up by 60.9%y/y in 9M18 (vs. +53.8%y/y in 1H18), even including the negative effect from the depreciation of the local currency against the euro, reflecting the rise in sales volumes and sales prices in the domestic market. In Lebanon, total EBITDA fell by 32.3%y/y in 9M18 (vs. -37.8%y/y in 1H18), reflecting the rise in production costs. In Brazil, the EBITDA stood at €6.2mn in 9M18 (or €7.6mn excluding the exchange rate effect), compared to €3.5mn in 9M17.
Semapa reported a consolidated net debt of €1,605.0mn in 3Q18 (-1.4%q/q or -€23.6mn q/q). 3Q18 net financial results stood at -€16.0mn (vs. -€8.8mn).
For further information, or to receive the PDF file, please contact +351 912 897 835 or firstname.lastname@example.org
The information and opinion contained in this report was prepared by PATRIS - SOCIEDADE CORRETORA, SA ("Patris"), which is part of the group of companies whose holding is PATRIS INVESTIMENTOS, SGPS, SA (Patris Group), listed in Alternext, which holds 100% of the share capital and voting rights of REAL VIDA SEGUROS SA which, in turn, holds 100% of the share capital and voting rights of Patris.
The information contained herein is based on publicly available data obtained from sources believed to be reliable and has not been subject to independent verification. To the extent permitted by applicable law, Patris does not expressly or impliedly guarantee the accuracy, completeness and / or correctness of such data, or any omission. This document, or part thereof, may not be (i) modified, (ii) transmitted or distributed or (iii) copied or duplicated by any means or means, without the prior written consent of Patris.
The analysts involved in the preparation of this report did not receive, receive and will not receive any compensation, direct or indirect, based on the information contained in this report.
PATRIS - SOCIEDADE CORRETORA, SA or another company of the Patris Group or its respective shareholders, management, and / or employees may carry out personal transactions on the securities referred to in this report, at any time and without prior notice.
Any opinion contained in this report may be outdated as a result of changes in market conditions, applicable laws and other factors. It should also be considered that the analyst may make changes to the estimates, assumptions and evaluation methodology used.
This report has been prepared for information purposes only, not taking into account the specific investment goals, financial situation and particular needs of any specific person who may receive the report. This report therefore has no specific recipient.
Patris is subject to high internal standards of behavior associated with the capital market, prepared on the basis of the applicable legislation of the Portuguese State and the European Union, which include rules to prevent and avoid conflicts of interest and barriers to the disclosure of information.
Investors should bear in mind that the rate of return on the securities identified in this report - if any reference is made to those returns - may vary and the price of such securities may rise or fall. Investors should thus be aware that they may receive less than initially invested. While this report may refer to the historical performance of securities, past performance is no guarantee of future performance. In addition, market conditions, applicable laws and other factors that have an effect on performance are all likely to change, with the consequent change in the information contained in this report. Patris or any other company of the Patris Group does not accept, to the extent permitted by applicable law, any liability, whether direct or indirect, resulting from losses that may arise due to the use of the information contained in this report.
Patris's activity is overseen by the Bank of Portugal and the Securities Market Commission.
Deseja aceder ao conteúdo
completo desta notícia?