Italcementi 1Q08 net profit down 12.4 per cent YoY

Italcementi 1Q08 net profit down 12.4 per cent YoY
Published: 07 May 2008

Italcementi booked a consolidated net profit of EUR81.3m (US$126m) for the first quarter of 2008, down 12.4 per cent on the year.
 
The group’s turnover stood at EUR1.207bn (US$1.871bn), falling by an annual 4.5 per cent, while EBITDA declined by 5.3 per cent to EUR260.9m (US$404.5m), Italcementi said in a statement after the board of directors, chaired by Giampiero Pesenti, approved the results.
 
The operating profit of Italcementi totalled EUR157.5m (US$244.2m), marking an 8.8 per cent decrease.
 
The first quarter, strongly affected by seasonal factors and by equipment maintenance activities, is not determinative for the full-year trend in financial results, the statement read.
 
Italcementi has confirmed its operating targets for 2008, which are in line with the results posted for 2007.