Italcementi ended the first half of 2005 with a net profit of EUR213.3m down 2.2% compared to the same period of 2004.
The company’s consolidated revenue stood at EUR2.4bn(US$2.93bn), up 6.2% and operating profit dropped 11.8% to EUR328.1m. Investments went up 165 pct to EUR 383.2m (US$468.9m).
The net financial debt, calculated as the difference between the company’s financial debts and liquid assets, totalled EUR2.1bn ($2.570 bln) on June 30, 2005, up by EUR365.3m ($446.6m), compared to January 1, 2005.
Italcementi’s financial results for the second quarter of 2005 include financial results of Egyptian state-owned cement company Suez Cement.