Italcementi - March 2014

Italcementi's 2013 turnover declined by 5.4 per cent to EUR4235.4m while the underlying EBITDA way off by just 1.9 per cent to EUR631m. The depreciation charge declined by 6.5 per cent to EUR426.5m and impairment charges dropped by 89.6 per cent to EUR32.1m from EUR309.4m and the previous year's trading loss EUR140.2m was turned into a trading profit of EUR159.3m. Net financial charges rose by 31.1 per cent to EUR123.9m and the contribution from associates declined by 27.2 per cent to EUR8.1m to give a pretax profit of EUR27.5m compared with a pretax loss of EUR223.5m in 2012. A EUR115.9m tax charge and a more than doubled minorities charge resulted in a net attributable loss of EUR165m, down from EUR395.2m in 2012. 

To continue reading this story and have 100% free access to the website, please Register for a subscription to International Cement Review or Login