Buzzi Unicem - May 2013
Buzzi Unicem's first-quarter turnover declined by 10.5 per cent to €503.14m and the EBITDA dropped by 51 per cent to €11.75m. The loss at the trading level was 29.7 per cent higher at €42.03m. Net financial charges declined by 7.3 per cent to €25.83m to give a seasonal pre-tax loss 7.1 per cent higher at €68.82m. Net debt at the end of March was 9.1 per cent higher at €1227.0m, giving a gearing level of 50.4 per cent compared with 47.1 per cent a year earlier. Capital investment was 11.1 per cent higher at €39.2m. Cement deliveries were again negatively affected by the severe winter in Europe and declined by a further 11 per cent to 4.8Mt. Group ready-mixed concrete deliveries fell by 17.1 per cent to 2.3Mm³. There were no proceeds from the sale of emission rights in the period, compared with €1.8m a year ago. On the assumption that the weather-related volume losses can be recovered, Buzzi Unicem expects a moderate improvement of its results for the full year.