Buzzi Unicem Q1 net swings into profit on higher sales, Italy

Buzzi Unicem Q1 net swings into profit on higher sales, Italy
Published: 12 May 2006

Italy’s Buzzi Unicem SpA said it posted a EUR29.1m net profit in the first quarter compared with a EUR17.8m loss a year earlier, thanks to stronger sales. 
 
Sales rose to EUR637.0m from EUR541.3m mainly thanks to the group’s performance in the US, Mexico and Central and Eastern Europe, it said. 
 
Cement sales rose to 6.3Mt from 6.1Mt, while ready-mixed concrete sales increased to 3.3Mm3 from 3.1Mm3, it said.
 
Gross operating profits rose to EUR119.7m from EUR86.9m and operating profits to EUR70.8m from EUR37.3m. Net debt fell to EUR1.039bn at end-March from EUR1.051bn end-2005. 
 
Buzzi Unicem said it expects an improvement in its full-year operating profit, which could however suffer from higher fuel and electricity costs as well as a strengthening of the euro.