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European weather partly offset by American advance

May, 14 2012

(Europe)  --  Buzzi Unicem’s turnover in the first quarter declined by 1.3% to €562.23m and the EBITDA dropped by 47.6% to €22.36m.

The loss at the trading level rose by 87.3% to €34.14m. Net financial costs declined by 0.6% to €27.85m, resulting in a seasonal pre-tax loss 38.1% higher at €64.52m. Net debt at the end of March was 5.4% higher at €1,204.6m, giving a gearing level of 47.1%.

Capital investment was reduced by 6.4% to €35.3m.  Cement shipments were hit by the harsh winter in Europe and declined by 4% to 5.4Mt, while group ready-mixed concrete deliveries fell by 12.5% to 2.8Mm³.  Proceeds from the sale of emission rights were limited to €1.8m, all of it in Germany.

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