Buzzi Unicem - March 2015
On a turnover just 0.1 per cent lower at EUR2506.4m, Buzzi Unicem's underlying EBITDA did increase by 7.1 per cent to EUR404.8m, while at the headline level there was a 4.8 per cent advance to EUR422.7m. After a 23 per cent reduction in impairment charges, depreciation and amortisation, the trading profit (EBIT) more than doubled from EUR86.5m to EUR178.7m. After a net interest charge 52.1 per cent lower at EUR53.1m, the pre-tax profit jumped from just EUR16m to EUR175.6m. At the net attributable level there was a swing from a EUR50.7m loss to a profit of EUR116.6m. Net debt at the end of the year was reduced by 3.1 per cent to 1062.7m, while net shareholders' funds improved by 3.3 per cent to EUR2273.5m giving a gearing level of 46.7 per cent. Group cement shipments were 1.8 per cent higher at 25.1Mt, while ready-mixed concrete deliveries improved by 1.4 per cent to 12.0Mm³.