North / South America
Italcementi posts €34.6million Q1 2012 loss
May, 14 2012
(Italy) -- Italian construction material specialist Italcementi is reported to have recorded a €34.6million net loss in the first quarter of 2012.
Italian construction material specialist Italcementi is reported to have recorded a €34.6million net loss in the first quarter of 2012, compared to a €127.6mn net profit in the same period of 2011.
The company’s ebit fell from €36.3million in Q1 2011 to €21.3million in Q1 2012, and the ebitda from €130.8million to €126.7million at the end of March 2012. Meanwhile, consolidated revenues decreased from €1.15billion to €1.07billion. Net debts rose from €2.093billion, recorded at the end of 2011, to €2.18billion.
Italcementi said it is expected an improvement in emerging economies and in the US, while EU markets will continue being affected by the economic crisis.
The first quarter 2011 profit recorded last year by Italcementi was nearly all due to the €123million sell off by the company of its main Turkish subsidiary.
Cement-makers want green status for power generated through waste-heat recovery. More
Holcim earns P1.43 billion in first quarter.