Italcementi posts highest ever loss of €362.4mn for 2012

Italian building materials group Italcementi has posted a loss of €362.4 million for 2012, down from a profit of €91.2 million in 2011. This is entirely the result of €475 million in write-downs and is the highest net loss in the company's history. The company’s EBITDA fell by 9.8% to €632 million, while its turnover dropped 3.8% to €4.48 billion. Falls were recorded in Belgium, France, Spain, Morocco and Bulgaria, while the group's results improved in India, Thailand and North America. The group's investme
March 8, 2013 Read time: 1 min

Italian building materials group 726 Italcementi has posted a loss of €362.4 million for 2012, down from a profit of €91.2 million in 2011.

This is entirely the result of €475 million in write-downs and is the highest net loss in the company's history.

The company’s EBITDA fell by 9.8% to €632 million, while its turnover dropped 3.8% to €4.48 billion. Falls were recorded in Belgium, France, Spain, Morocco and Bulgaria, while the group's results improved in India, Thailand and North America.

The group's investments went down by €28 million to €370 million, and were largely concentrated in the industrial and environmental efficiencies sectors. Its net assets dropped from €4.8 billion to €4.2 billin, while its net debt went down to just under €2 billion.

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