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Simaba increases profits to 73 million per semester - Industry

Simaba increases profits to 73 million per semester – Industry

In the first half of this year, Simaba posted a net profit attributable to shareholders of €73.1 million, which is an increase of 141.4% compared to the profit of €30.3 million it achieved in the same period of 2020.

In the presentation of accounts for the first half of the year, the acquisition that controls the Navigator paper mill, cement company Secil and environmental company ETSA explained that this growth resulted from a positive development in EBITDA in all business segments (€21.5 million) , an improvement in financial results (19.4 million euros), a decrease in depreciation, amortization and impairment losses (18.4 million euros), while the tax function was negatively affected (9, 8 million euros).

After the group’s activity was affected by the epidemic in the second quarter of last year, due to the epidemic, in the first half of this year it obtained a consolidated sales figure of 971.4 million euros, which is equivalent to an increase of 3.1% compared to the same period last year.

Of this amount, €714.6 million was generated by Navigator (2.7% more than last year), €237.9 million by Secil (3.2%) and €18.9 million by ETSA (20.4%). He stressed that exports and sales abroad in this period amounted to 709.8 million euros, representing 73.1% of the total.

Gross EBITDA for the first half was €224.8 million, up 10.6% compared to €203.3 million in the same period the previous year. Of this amount, 150.5 million euros were generated in the pulp and paper industry (7.4%), 67.1 million in cement (14.9%) and 7.2 million euros (40.6% more).

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In the statement submitted to CMVM, the group confirmed that EBITDA for the second quarter was €9.9 million higher than the first quarter.

The value of investments made up to June amounted to about 53 million euros, down from 65 million in the same period in 2020.

Net debt decreased across all business segments, with consolidated net debt of €1142.9 million, €72.6 million lower than it was at the end of 2020.