Caltagirone profits soar

Caltagirone profits soar
Published: 16 November 2005

Caltagirone, the Italian diversified group, saw its consolidated turnover jump year-on-year by 89.2 per cent in the first nine months of 2005, to Euro 760.6m. Even more spectacularly, the group’s profits leapt 115 per cent, to Euro 110m, while its gross operating margin climbed 89.8 per cent, to Euro 146.6m.  The increases stem largely from the inclusion in Caltagirone’s accounts of Unicon and Aalborg, the Danish cement companies which were acquired earlier this year by the group’s own cement subsidiary, Cementir. The nine-month results do not include, however, the entire contribution of its publishing division, Caltagirone Editore (turnover of Euro 202m for the period).