Cement News tagged under: italy

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Italcementi advances in India and Morocco

08 May 2015, Published under Cement News

Italcementi's first-quarter turnover improved by 5.1 per cent to EUR980.5m while the running EBITDA eased 0.4 per cent to EUR95.2m. The trading loss was increased by 13 per cent to EUR4.7m and net interest charge rose by 2.6 per cent to EUR34m. The pretax loss declined by 23.1 per cent to EUR34m but a higher tax charge led to a 7.5 per cent increase in the net attributable loss to EUR73.4m. Net debt at the end of March was 8.7 per cent higher at EUR2343.9m to give a gearing level of 57.7 ...

Buzzi Unicem's bid for Sacci expires

05 May 2015, Published under Cement News

Buzzi Unicem’s offer to buy Sacci SpA has expired after being rejected by the banks and creditors and the bidder is no longer bound to any commitment, the Italian cement major announced. “We inform that the population of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law did not endorse the proposal by Buzzi Unicem. The offer has expired today and as such Buzzi Unicem is released from any subsequent commitment,” Buzzi...

Cementir full-year expectations in line with 2014

24 April 2015, Published under Cement News

Italian cement major Cementir has confirmed the expectations for a 2015 in line with 2014, chairman and CEO, Francesco Caltagirone Jr, said at the end of the shareholders' meeting. The company may benefit from the drop in oil price and the appreciation of the dollar. An upgrade of the 2015 targets is possible, Mr Caltagirone noted. On its domestic market of Italy, the company head said that in the first two months of 2015, the market showed a stabilisation of cement consumption after seven...

Standard & Poor’s revises Italcementi rating

20 April 2015, Published under Cement News

Standard & Poor’s announced Friday that it has revised the corporate rating of Italcementi SpA, and as a consequence the rating of Italcementi Finance SA’s outstanding unsecured bonds, from BB+ with negative outlook to BB with stable outlook. The rating of Ciments Français SAS’ remaining outstanding bond is also revised to BB/stable. “We acknowledge Standard & Poor’s decision, even if it comes just ahead of what we believe is going to be a positive earnings cycle, driven by both the progr...

Berenberg Bank lifts Italcementi to EUR7.10

02 April 2015, Published under Cement News

Following the announcement of the 2014 figures of Italcementi, Berenberg Bank has increased its price target for the stock of Italcementi to EUR 7.10 from EUR 6.30 per share, but has downgraded its recommendation on the cement maker to "hold" from previously "buy". The earnings estimates are reduced by 46.6, 22.5 and 7.6 per cent to EUR0.05, EUR0.29 and EUR 0.60 per share for 2015, 2016 and 2017, respectively Abstracted from an original article in Boersen-Zeitung.

Buzzi Unicem returns to a net profit

30 March 2015, Published under Cement News

On a turnover just 0.1 per cent lower at EUR2506.4m, Buzzi Unicem's underlying EBITDA did increase by 7.1 per cent to EUR404.8m in 2014, while at the headline level there was a 4.8 per cent advance to EUR422.7m. Following a 23 per cent reduction in impairment charges, depreciation and amortisation, the trading profit (EBIT) more than doubled from EUR86.5m to EUR178.7m. After a net interest charge 52.1 per cent lower at EUR53.1m, the pre-tax profit jumped from just EUR16.0m to EUR175.6m. A...

Buzzi offer to purchase SACCI SpA accepted

27 March 2015, Published under Cement News

Buzzi Unicem announced today that further to its proposed purchase of a 99.5 per cent interest in the share capital of SACCI SpA, controlling shareholders have accepted the binding offer. Last week Buzzi announced that it had Buzzi Unicem is offering €120m for the stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement. Buzzi highlighted that execution of the contract is still subject to the endorsement of the banks and credit...

Buzzi Unicem proposes to acquire SACCI

19 March 2015, Published under Cement News

Buzzi Unicem is offering EUR120m for a 99.5 per cent stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement.  The proposal is seen as a further step in the consolidation of the fragmented Italian cement industry, where Buzzi Unicem is the second largest producer behind Italcementi.  SACCI presently operates four cement plants, representing a current combined cement capacity of some 2Mta and 31 ready-mixed concrete batching pl...

Cementir performs well in Denmark

11 March 2015, Published under Cement News

Cementir Holding's turnover in 2014 declined by 4.1 per cent to EUR948m, but EBITDA improved by 13.4 per cent to EUR192.4m. The trading profit advanced by 35.7 per cent to EUR104.1m and the pretax profit rose by 57.5 per cent to EUR99.5m.  Net attributable profit recorded a 78.5 per cent advance to EUR71.6m. Net debt at the end of 2014 was 14.3 per cent lower at EUR278.3m, giving a modest gearing level of 26.7 per cent as shareholders’ funds increased by 9.3 per cent.  Capital investme...

Italcementi improves margins

06 March 2015, Published under Cement News

Italcementi's 2014 turnover declined by a further 1.8 per cent to EUR4155.6m but the underlying EBITDA did improve by 3.2 per cent to EUR649.1m. The depreciation charge declined by 3.1 per cent to EUR408.3m and impairment charges dropped by a further 70.9 per cent to EUR9.2m and the trading profit advanced by a further 42.3 per cent to EUR226.7m. Net financial charges rose by 14.3 per cent to EUR136.5m while the contribution from associates rose by 57.1 per cent to EUR11.7m to give a pre-...