Buzzi Unicem - March 2016
On a turnover 6.2 per cent higher at EUR2662.1m, Buzzi Unicem's EBITDA increased by 11.9 per cent to EUR473.2m, helped by changes in the scope of consolidation and exchange rate movements. After a 14.3 per cent reduction in impairment charges, depreciation and amortisation, the trading profit (EBIT) advanced by a further 47.7 per cent to EUR264m. After a net interest charge 97.9 per cent higher at EUR105.1m, a EUR5.7m gain on the sale of investments and a EUR7.5m higher contribution from associates, the pretax profit rose by 26.5 per cent to EUR222.1m. At the net attributable level, the profit increased by 7.5 per cent to EUR125.3m. Net debt at the end of the year was reduced by 3.1 per cent to 1,029.7m, while net shareholders' funds improved by 9.3 per cent to EUR2,553m giving a gearing level of 40.3 per cent compared with 46.7 per cent. Group cement shipments were 1.7 per cent higher at 25.6Mt, while ready-mixed concrete deliveries declined by 0.9 per cent to 11.9Mm³.