Simaba’s profit grew by 86% to 198 million euros in 2021 – Companies

The announcement was made by the holding company that controls Navigator, Secil and ETSA in a statement sent Friday to the Securities Exchange Commission (CMVM).

Simaba attributes the growth to “a positive EBITDA development.” (+89.4 million euros) together with an improvement in financial results (+9.6 million euros). “Impairment and provisions”, as well as “less impact on net cash position”, at the same time “adversely affected” financial function (-6 million euros).

The total consolidated turnover of the group amounted to €2131.4 million, an increase of 14.1% compared to 2020, of which €1595.7 million was produced by Navigator Paper (+15.2%) and €495.7 million by Secil Cement (+9.9%). The remaining 40 million came from Environmental firm ETSA (+27.3%).

Exports and sales abroad amounted to 1,576.5 million euros, equivalent to 74% of the turnover.

in the statement Show results 2021Simaba highlights that the past year has seen “an increase in paper volumes sold in the context of price recovery”; For the “positive development” in all the markets in which Secil operates, as well as the “largest volume of business ever” in the environment sector.

Gross EBITDA was €508.7 million last year, reflecting a 21.3% increase over 2020, €89.4 million. Of the total, €354.7 million was generated in the pulp and paper sector (+24.2%), €139.7 million in cement (+13.1%) and €14.6 million in the environment (+44.3%).

investment In fixed assets amounted to 127 million euros last year. The amount includes €20 million for the CCL-Clean Cement Line project at Secil’s Outão cement plant and €80 million for the modernization and maintenance of equipment, production capacity, energy and decarbonization at Navigator, the group explains. In addition, he adds, the €11 million investment in financial assets in “startups” and venture capital funds implemented by Semapa Next stands out.

Simaba reached the end of 2021 with net interest-earning debt of €1015.6 million, €200 million less than that recorded at the end of 2020.

As at December 31, cash and cash equivalents totaled €382 million, with a batch of contracted and unused items totaling €553 million, ensuring a “strong liquidity position”.

Simaba’s board of directors has announced that it will propose a cash dividend of €0.512 per share, equivalent to a total value of approximately €40.9 million.

It must be remembered that in the latter period of 2021, Joao Castelo Branco resigned as CEO of Simaba, having left the group on December 31, after seven years. Ricardo Perez, director of the holding company and president of Semapa Next, has been chosen to succeed him as CEO.