Cementir’s first half results boosted by acquisitions

Cementir’s first half results boosted by acquisitions
Published: 29 July 2005

First half turnover at Cementir rose by 166.7 per cent to €402.9m, thanks to last October’s acquisitions of Aalborg Portland Cement and Unicon.  The EBITDA advanced by 113.84 per cent to €82.8m and the trading profit doubled to €49.4m, while the negative shift in the net interest charge reduce the increase at the running pre-tax profit level to 54.7 per cent at €46.8m. Excluding the acquisitions from FLS, turnover was 5.2 per cent ahead at €159.0m, while the EBITDA declined by 17.1 per cent to €33.0m, largely reflecting a difficult Italian market.  European turnover amounted to €308.4m, with Asia, mainly Turkey, contributing €65.9m, North America €16.3m and North Africa €12.3m.