Italy’s Berbetti posts €7.8mn loss in 2014

Italian concrete manufacturer Barbetti, part of the Cementerie Aldo Barbetti (CAB) cement group, posted a loss of about €7.8 million in 2014 from a €93.6 million loss posted in the previous year. Revenues fell to €60.2 million from €63.4 million, while EBITDA dropped to €3.8 million from €7.5 million. Sales revenues also fell by about €9.5 million to about €48.4 million, while net assets dropped to €17.6 million from €25.5 million. Following the sale of its Turkish subsidiary, Cimko Cimento, the c
July 23, 2015 Read time: 1 min

Italian concrete manufacturer Barbetti, part of the Cementerie Aldo Barbetti (CAB) cement group, posted a loss of about €7.8 million in 2014 from a €93.6 million loss posted in the previous year.

Revenues fell to €60.2 million from €63.4 million, while EBITDA dropped to €3.8 million from €7.5 million.

Sales revenues also fell by about €9.5 million to about €48.4 million, while net assets dropped to €17.6 million from €25.5 million.

Following the sale of its Turkish subsidiary, Cimko Cimento, the company reduced the €210 million credit line granted by 4321 Mediobanca by €53.5 million, and turned the short-term credit line into a long-term one.

The company is to pay back the remaining €128 million debt to Mediobanca by 2021.

CAB, which controls companies Valdipesa 1592 Calcestruzzi, Barbetti, Tecnocal, Barbetti Materials and STB, expects to be back in the black in 2018.

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Italy’s Buzzi Unicem unveils 2015 results

Italian cement manufacturer Buzzi Unicem reported a 6.2% year-on-year increase in its turnover to €2.66 billion in 2015.

EBITDA rose 11.9% to €473.2 million, while recurring EBITDA grew 18.3% to €478.8 million.

In addition, net profit grew 6.3% to €128.1 million, while net debt reached €1.03 billion from €1.06 billion.

In the same year, the company saw an 1.7% increase in sales of cement to 25.6 million tonnes.

For 2016 the company expects to post a slight increase in its consolidated recurring

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