Vicat - August 2015
Vicat's 1H15 turnover improved by two per cent to EUR1243.6m, which amounts to a 6.1 per cent reduction on a comparative basis. EBITDA declined by 2.2 per cent to EUR203.1m and the margin narrowed from 17.1 to 16.3 per cent. The trading profit came off by 19.2 per cent to EUR93.3m, an underlying reduction of 25.4 per cent. After a net financial charge 5.9 per cent lower at EUR27.8m and a 40 per cent increase in the income from associates to EUR2.4m, the pretax profit declined by 19.6 per cent to EUR67.9m and the net attributable profit fell by 33.5 per cent to EUR33.7m. Capital spending in period increased by 11.4 per cent to EUR81.3m and is expected to amount to around EUR180m for the full year. The net debt was 0.7 per cent higher at EUR1191m, giving a gearing level of 46.8 per cent compared with 52.7 per cent a year earlier.