Buzzi Unicem - May 2014
Buzzi Unicem's first-quarter turnover increased by a restated 11.6 per cent to EUR496.38m and the EBITDA went from a EUR8.48m loss to a positive EUR10.26m. The loss at the trading level was reduced by 36.1 per cent to EUR37.42m. Net financial charges increased by 29.4 per cent to EUR32.75m giving a seasonal pretax loss 20.4 per cent lower at EUR61.12m. Net debt at the end of March was 6.7 per cent higher at EUR1170.6m, giving a gearing level of 53.8 per cent compared with a restated 47.7 per cent a year earlier. Capital investment was 2.7 per cent higher at EUR38.7m. Cement deliveries were boosted by the mild winter in Europe and rose by 15.2 per cent to 4.8Mt. Group ready-mixed concrete deliveries advanced by 19.9 per cent to 2.5Mm³.