Semapa's profits fall 15.4% to 48.2 million in the first quarter
Semapa recorded, in the first quarter of this year, profits attributable to shareholders of 48.2 million euros, a 15.4% drop in terms of comparable periods, it said in a statement to the Portuguese Securities Market Commission (CMVM).
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Economia Semapa
"The increase in EBITDA (earnings before interest, taxes, depreciation, and amortization) was not enough to offset the reduction in financial results and the increase in amortizations for the period," the company said in the same note.
The group's consolidated turnover increased by 5.9% in the first quarter, to 715.2 million euros, the company said.
"In the period under analysis, 536.4 million euros were generated in Navigator (pulp and paper), 163.2 million euros in Secil (cement) and 15.8 million euros in other businesses," said Semapa.
"Exports and sales abroad in the same period amounted to 537.6 million euros, which represents 75.2% of turnover," it said.
According to Semapa, the quarter's EBITDA reached 170.7 million euros, an increase of 2.4%, year-on-year, the group said.
According to the company, "the value of fixed asset investments made in the first quarter of 2024 was approximately 71.1 million euros", compared to 60.6 million euros in the same period, "with Navigator standing out with 40.7 million euros (of which about 13 million euros are investments in the environment or of a sustainable nature) and Secil with 26.2 million euros (of which about 5 million euros relate to the increase in the clinker production capacity of the Adrianópolis factory)".
According to Semapa, at ETSA "the investment in the construction of a new factory unit in Coruche continued, in which it is intended to produce a range of products substantially more 'premium' than the current range, as a result of a strong investment in innovation, called ETSA ProHy, and at Triangle's the execution of the increase in the production capacity of frames for 'e-bikes' continued".
"At the end of the 1st quarter of 2024, the consolidated net debt reached 973.5 million euros, 38.5 million euros less than at the end of 2023," the group said.
Read Also: Semapa's AGM votes on profit sharing for employees and managers (Portuguese version)
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