Italcementi back in the red

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Italy: Italcementi has posted a net loss of Euro34.6m for the first quarter of 2012, compared with a net profit of Euro127.6m for the same period of 2011. The 2011 results benefited from the sale of Italcementi's operations in Turkey.

Revenues fell by 6.8% year-on-year to Euro1.07bn. Recurring earnings before interest, tax, depreciation and amortisation (EBITDA) dropped by 3.1% to Euro126.7m and EBITDA went down by 8.7% to Euro135.5m. Earnings before interest and tax (EBIT) slumped by a massive 41.4% to Euro21.3m.

Italcementi posted a pre-tax loss of Euro7.8m for the quarter compared with a pre-tax profit of Euro24m for the first quarter of 2011. Its net financial debt rose to Euro2.18bn on 31 March 2012 compared to Euro2.09bn at 31 December 2011.

Last modified on 09 May 2012

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