Buzzi nine month net rises to EUR255m vs EUR184 on lower financial costs

Buzzi nine month net rises to EUR255m vs EUR184 on lower financial costs
Published: 14 November 2006

Buzzi Unicem SpA said nine-month net profit rose to EUR255.0m from EUR184.2m a year earlier, thanks to a strong decrease of financial charges and the absence of restructuring costs at its German activities.  
 
Sales grew 8.3 per cent to EUR2.378bn and EBITDA rose 15.7 per cent to EUR681.9m.  
 
The company said the construction market was stable in Italy and the US while it rose in Mexico and slightly recovered in Germany. Central and Eastern European markets continued to perform strongly, it added.  
 
Total cement sales rose 1.1 per cent to 24Mt and ready-mix concrete sales rose 4.1 per cent to 12.2Mt, while in Italy cement sales fell 1.9 per cent.  
 
Production costs continued to be under strong pressure, while selling prices in local currency showed a favourable development in all its markets, except the Czech Republic where they were stable, it said.  
 
For the full year, Buzzi reiterated it expects a significant net profit growth.