Buzzi Unicem

Buzzi Unicem's turnover fell by 24.1 per cent in 2009 to €2671.8m and EBITDA dropped by 41.3 per cent to €541.7m and the trading profit was down by 53.7 per cent to €323.0m. After net interest charges that were 50.6 per cent higher at €99.9m, the pre-tax profit dropped by 63.8 per cent to €235.2m and the reduction at the net attributable level was 64.7 per cent to €139.5m. Net debt at the end of 2009 was 14.1 per cent higher at €1,209.3m, while shareholders' funds were 0.3 per cent ahead at €2,712.2m, giving a gearing of 44.6 per cent. Group cement volumes declined by 20.4 per cent to 25.5m tonnes and in Italy, domestic cement deliveries declined by 15.2 per cent while exports dropped by some 60 per cent, giving a total volume reduction in cement of 16.4 per cent, while prices also suffered from the weakness of the Italian cement market and fell by an average 6.0 per cent.