Martifer SGPS, S.A. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Impairment Losses for the Second Quarter Ended June 30, 2016
August 24, 2016
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Martifer SGPS, SA reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company has posted sales and services rendered of €51,465,394 against €66,124,495 a year ago. Loss before tax of continued operational units was €1,593,050 against €6,922,155 a year ago. Loss after tax of continued operational units was €2,641,435 against €7,350,849 a year ago. Loss for the period attributable to owners of Martifer was €2,601,869 against €5,829,760 a year ago. Basic and diluted loss per share from continuing operations was €0.0180 against €0.0617 a year ago. Basic and diluted loss per share was €0.0266 against €0.0871 a year ago. Net cash generated by operating activities was €1,508,385 against net cash used in operating activities of €1,434,218 a year ago.
For the six months, the company reported revenues were €106.8 million against €134.4 million a year ago. EBITDA was €4.4 million against €8.8 million a year ago. LBIT was €1.9 million against EBIT of €1.4 million a year ago. Loss before taxes was €1.8 million against €9.3 million a year ago. Loss after taxes of continued operations was €3.0 million against €10.0 million a year ago. Net loss attributable to shareholders was €3.2 million against €8.5 million a year ago The group's consolidated net debt (Borrowings + Financial Leases (+/-) Derivatives Cash and Cash Equivalents) on 30 June 2016 totaled €247 million, showing a €13 million decrease when compared with the end of 2015. Sales and services rendered of €97,833,797 against €123,808,925 a year ago. Basic and diluted loss per share from continuing operations was €0.0134 against €0.0894 a year ago. Basic and diluted loss per share was €0.0331 against €0.0871 a year ago. Net cash generated by operating activities was €19,390,815 against €7,344,797 a year ago. Payments for financial assets were €607,847. Payments for tangible assets were €2,177,730 against €3,606,362 a year ago. Payments for intangible assets were €63,044 against €48,220 a year ago.
The company reported impairment losses for the second quarter ended June 30, 2016 was €3,214,650.
Martifer SGPS, S.A. is a holding company organized around 3 areas of activity:
- construction of metal structures (58.3% of net sales; No. 1 in the Iberian Peninsula): for Oil & Gas infrastructure construction sector;
- shipbuilding (36.4%);
- construction of renewable energy production units and equipment (5.3% of net sales): wind farms, biodiesel production sites, wind tours, aerogenerators, solar energy systems, etc. The group also produces and distributes renewable energy-based electric energy.
Net sales are distributed geographically as follows: Portugal (63.1%), Europe (30%) and other (6.9%).
Martifer SGPS, S.A. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Impairment Losses for the Second Quarter Ended June 30, 2016
MARTIFER SGPS, S.A. 
