Vicat - March 2014

Turnover eased by 0.3 per cent in 2013 to EUR2286m and the EBITDA came off by 2.4 per cent to EUR427m, while at unchanged parameters they would have risen by 2.9 per cent and 0.3 per cent, respectively. The trading profit emerged 3.7 per cent lower at EUR234m. The net financial charge rose by 31.2 per cent as the debt of the Indian subsidiaries Vicat Sagar and Gulbarga Power was no longer being capitalised. After an increase in the effective tax charge from 29.1 per cent to 32.4 per cent, mainly related to France, in part compensated for by a lower minorities charge, the net attributable profit emerged 6.8 per cent lower at EUR120m. The net debt at the end of the year was 6.9 per cent lower at EUR1065m and represented 46.5 per cent of total shareholders' funds, which were 5.1 per cent lower at EUR2292m. Capital investment year was reduced by 39.4 per cent to EUR174m, while and net spending on acquisitions increased by 12.5 per cent to EUR18m. 

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