Cementir boosted by financial items

Cementir boosted by financial items
Published: 31 July 2015


Cementir's turnover edged ahead by 0.6 per cent to EUR475.7m in first half of 2015, as the improvements in Denmark and Sweden made up for lower results from Norway and Turkey while Italy was broadly stable. EBITDA, however, declined by 6.7 per cent to EUR73.14m. After a 3.4 per cent increase in depreciation and similar charges, the trading profit was down by 17.7 per cent to EUR31m. The net financial item swung from a EUR6.2m loss to a EUR5.3m profit, resulting in a pretax profit 15.3 per cent ahead at EUR36.2m, and the net attributable profit rose by 16.2 per cent to EUR23.9m. The net debt at the end of June stood at EUR312m, 12.1 per cent lower than a year earlier, giving a gearing level of 30 per cent compared with 36.6 per cent a year earlier. Capital expenditure in the period amounted to EUR27.2m, of which cement accounted for 20.8m. 

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