Cementir
Cementir's first-quarter turnover declined by 13.4 per cent to EUR242.3m, while when adjusting for the Italian operations disposed of, the reduction was a more modest 1.6 per cent. EBITDA improved by 4.7 per cent to EUR24.1m, while at the trading level there was a swing from a EUR0.95m loss to a EUR6.31m profit. Helped by the interest line turning positive, the pretax result went from a EUR6.18m loss to a profit of EUR7.2m. Net debt at the end of March was EUR387.1m compared with the EUR646.4m a year earlier to give a gearing level of 38.7 per cent compared with 62.7 per cent a year earlier.
