Vicat - March 2013

Turnover was up by 1.2 per cent in 2012 to EUR2292.2m (US$2930m), but the EBITDA declined by 10.9 per cent to EUR437.4m and the trading profit fell by 20.8 per cent to EUR245.2m. The net interest charge, which had jumped by 60.5 per cent in 2011, declined by 14.8 per cent to EUR34.4m and the total net financial charge emerged 7.9 per cent lower at EUR40.4m. The contribution from associates jumped by 94.9 per cent to EUR3m, giving a pre-tax profit 20 per cent lower at EUR207.6m and the net attributable fell by 21.1 per cent to EUR129.1m. The net debt was 6.2 per cent higher at EUR1144m and represents 46.4 per cent of total shareholders, or 53.7 per cent if minorities are excluded. Capital investment last year was four per cent higher at EUR287m, while and net spending on acquisitions was reduced by 55.6 per cent to EUR16m.

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