Italcementi - May 2015

Italcementi's first-quarter turnover improved by 5.1 per cent to EUR980.5m while running EBITDA eased by 0.4 per cent to EUR95.2m. The trading loss was increased by 13 per cent to EUR4.7m and net interest charge increased by 2.6 per cent to EUR34m. The pretax loss declined by 23.1 per cent to EUR34m, but a higher tax charge led to a 7.5 per cent increase in the net attributable loss to EUR73.4m. The net debt at the end of March was 8.7 per cent higher at EUR2343.9m, to give a gearing level of 57.7 per cent, compared with 56.3 per cent a year earlier. Capital expenditure in the period declined by 62.1 per cent to EUR63.4m as several projects were completed. 

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