Semapa Reports 103 % Decrease in Net Profit in H1 2020

Portugese industrial holding company Semapa Group reported H1 2020 results, indicating a 103,6 % decrease in net profit for its cement segment (Secil Group). Cement revenue in H1 2020 amounted to EUR 230,6 million, which is 8,5 % less YoY. EBITDA indicator is up by 7,4 % YoY, amounting to EUR 58,5 million. However, cement segment in its domestic market (Portugal) and Brazil showed a revenue increase of 5,2 % YoY and 13,1 % respectively.

Clinker production at Semapa's enterprises went down by 15,8 % YoY (to 1,96 million tons), and cement production in H1 2020 went down by 11,4 % YoY (to 2,28 million tons).

Total sales volumes mostly went down YoY, except for mortars. Mortars sales volume went up by 1,2 % and amounted to 102,000 tons.

Grey cement sales volume amounted to 2,16 million tons (down by 10,5 % YoY), white cement — 32,000 tons (down by 21,9 % YoY), clinker — 149,000 tons (down by 33,5 % YoY). Aggregates sales volume went down by 11,9 % YoY, amounting to 1,33 million tons.