Italcementi - November 2015

Italcementi's turnover improved by 3.2 per cent to EUR3217m in the first nine months the year and the running EBITDA was 1.7 per cent ahead to EUR482.9m, while the trading profit eased by 0.4 per cent to EUR165.6m. The net interest charge declined by 14.9 per cent to EUR85m and, after other items, the pretax profit rose by 31.8 per cent to EUR60.9m in the absence of impairment charges. After a 37.2 per cent reduction in the tax charge to EUR69m, the net attributable loss was more than halved to EUR55.3m. The net debt at the end of September stood at EUR2297.8m compared with the EUR2173.5m shown a year ago, giving a gearing ratio of 60.4 per cent compared with 56.9 per cent. Capital expenditure was EUR110m lower in the year to date and should amount to around EUR330m for the full year.

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