Italy: Cementir Holding’s sales revenue has risen by 6% year-on-year to Euro1.03bn in 2016 from Euro0.97bn in 2015. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 2% to Euro198m from Euro194m and its sales volumes of cement rose by 7.9% to 10.1Mt from 9.4Mt. The gains arose from the company’s purchase of Compagnie des Ciments Belges in 2016. On a like-for-like basis revenue fell slightly, EBITDA fell more deeply and sales volumes of cement rose modestly in the period.
“Strong performance in the Scandinavian countries and Malaysia have substantially offset lower earnings in Turkey, Egypt and Italy. Also, group results have been negatively affected by the depreciation of the Turkish lira and, since the Brexit vote, the British pound, together with the fall in the value of the Egyptian pound and geopolitical events in Turkey and Egypt,” said Francesco Caltagirone Jr, chairman and chief executive officer of Cementir Holding.
