Italy: Cementir Holding has reported a revenue of Euro989m in 2013, a 1% increase year-on-year from the Euro976m reported in 2013. Sales of grey and white cement fell slightly by 1% to 9.74Mt in 2013. Despite this, net profit rose by 144% to Euro40.1m and earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 22.9% to Euro170m.

"Despite the modest increase in revenues, profitability improved significantly. Cementir Holding ended 2013 with EBITDA above the target set at the start of the year, despite the sharp downturn in the Turkish and Egyptian currencies," said Francesco Caltagirone Jr, Chairman and CEO of Cementir Holding.

By region the Italy-based cement producer reported revenue rises in Scandinavia, Turkey and in the Far East. Revenues fell by 15% in Egypt and by 13.6% in Italy.

In its outlook Cementir Holding expects to see continued revenue growth in Scandinavia, Turkey and the Far East in 2014 and an improvement in profitability in Italy amidst continued market weakness. It does not expect the situation to improve in Egypt during 2014.