Cementir maintains a strong balance sheet

Cementir maintains a strong balance sheet
Published: 31 July 2009

Cementir’s turnover for the first six months declined by 27.2% to €419.2m, with the EBITDA falling by 49.5% to €58.1m and the trading profit dropping by 77.0% to €17.7m.
 
These results do not yet fully reflect the reduction in energy costs and staffing levels.  The net debt at the end of June declined by 13.3% to €418.3m, which represented a gearing level of 40.4%.  Capital investments in the period included the final costs of the new plant in Egypt and spending on the white cement plant under construction in China.
 
Cement deliveries declined by 9.6% to 4.87Mt with the aggregates volume being down by 11.8% to 1.93Mt and the largest volume reduction took place in ready-mixed concrete, where there was a 28.8% drop to 154Mm³.