Cement News tagged under: italy

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Cementir boosts pretax profit

11 November 2014, Published under Cement News

Cementir's turnover for the first nine months of 2014 declined by 3.7 per cent to EUR714.7m as the Turkish and Egyptian currencies declined against the euro and Italian volumes fell further.   EBITDA, however, did increase by 10 per cent to EUR127.7m and the trading profit advanced by 31.7 per cent to EUR66.8m. After a net financial charge that was reduced by 72.4 per cent to EUR3.1m, the pre-tax profit jumped by 60.7 per cent to EUR63.7m compared with EUR39.7m a year ago.  Net debt a...

Italcementi reduces nine-month loss

10 November 2014, Published under Cement News

Italcementi's turnover declined by 3.1 per cent to €3,217.5m in the first nine months the year and the running EBITDA eased by 0.6 per cent to €469.3m. Very substantially lower re-organisation costs and a 12.1 per cent reduction in depreciation and impairment charges resulted in the trading profit staging a 48.1 per cent recovery to €160.9m.  The net interest charge rose by 15.7 per cent to €100.0m and a larger financial impairment charge, the pre-tax profit jumped from €10m to €40.3m.  Af...

Buzzi Unicem's US profits grow

10 November 2014, Published under Cement News

Buzzi Unicem's turnover for the first nine months edged ahead by 0.2 per cent to EUR1898.7m while EBITDA improved by 10.8 per cent to EUR302.5m. The trading profit was ahead by 15.1 per cent to EUR136.1m and net financial charges declined by 38 per cent to EUR50.7m. The contribution from associates increased by 22.6 per cent to EUR36.1m, and the pre-tax profit advanced by 77.3 per cent to EUR121.8m. The tax charge still rose by 63.1 per cent while the minorities charge declined by 36.4 pe...

Berenberg upgrades Italcementi

26 September 2014, Published under Cement News

Analysts at Berenberg bank have upgraded its recommendation on Italian cement major Italcement's stock to 'buy' from 'sell' with a target price of EUR6.30. Berenberg said the planned merger between Holcim and Lafarge "remains the dominant theme for the sector". They said Italcementi's asset portfolio favours the company as the cement sector faces significant consolidation.

Buzzi Unicem: Italy still declining

04 August 2014, Published under Cement News

Buzzi Unicem's first half turnover improved by 2.7 per cent to EUR1180.7m and the EBITDA rose by 27.7 per cent to EUR138.5m. The depreciation and impairment charges include EUR30.9m in respect of writing off the goodwill in the Ukraine. The first half trading profit recovered from EUR3.1m to EUR14.1m and the interest charge declined by 1.2 per cent to EUR47m and the pre-tax loss was reduced from EUR26m to EUR11.1m. After a tax charge 9.1 per cent higher at EUR9.7m and a minorities charge ...

Moody's upgrades Italcementi outlook

01 August 2014, Published under Cement News

Moody's has confirmed Italcementi's Ba3 rating and upgraded the company's outlook from 'stable' to 'positive' following the successful conclusion of the Italian cement major's 'i.150' project. The same rating is affirmed for Italcementi's Euro Medium Term Note Programme (EMTN) programme and for its subsidiary Italcementi Finance. Following the recent transaction which led Italcementi to control the total share capital of Ciments Français and the related delisting of the company, Moody’s ...

Italcementi suffers from jump in financing costs

31 July 2014, Published under Cement News

Italcementi's first-half turnover declined by six per cent to EUR2048.4m, but the running EBITDA did improve by 2.2 per cent to EUR304.8m. Helped by a 6.2 per cent reduction in the amortisation and depreciation charge, the trading profit improved by 27.7 per cent to EUR99.8m. A 66.5 per cent jump in financing costs, largely related to interest rate derivatives and derivatives on CO2 hedging, led to a net financial charge of EUR75.1m. After contribution from associates and impairment charg...

Buzzi Unicem and Wietersdorfer deal completed

31 July 2014, Published under Cement News

Buzzi Unicem has completed a strategic agreement with Wietersdorfer initially announced in February this year. Under the terms of the deal, Buzzi Unicem is receiving EUR22m from W&P Cementi for its 0.3Mta cement works at Cadola (Italy) and the right to acquire the 0.4Mta Travesio (Italy) cement plant within the next five years. At the same time, Buzzi Unicem is paying some EUR22m for a 25 per cent stake in Salonit Anhovo, the leading cement producer in Slovenia with a capacity approaching ...

Cementir's growth impeded by the strong euro

30 July 2014, Published under Cement News

Cementir's turnover emerged just 0.1 per cent ahead at EUR472.8m in first half of the year, as the improvement in Denmark and Norway was offset by currency weakness and the continuing decline in Italy. EBITDA, however, rose by 26.4 per cent to EUR78.4m and was helped by a 7.8 per cent reduction in depreciation and similar charges. The trading profit was more than doubled and jumped ahead by 112 per cent to EUR37.6m. The net financial charge was jumped from EUR2.8m to EUR7.3m, resulting in...

Italcementi reaches threshold for squeeze-out of Ciments Français

04 July 2014, Published under Cement News

Italcementi said on Thursday it had bought more than 95 percent of share capital of Ciments Français, reaching the threshold for the squeeze-out of minorities at its French unit. Italcementi’s buyout bid for Ciments Français, which commenced on 13 June, is worth EUR79.50 (USS108.60) a share, ex dividend. The buy-out of minorities in Ciments Fran ç ais is part of the Italian cement major's plan to streamline its group structure and will lead to the delisting of the French unit from the P...