Vicat
Vicat's turnover improved by 25.5% in 2011 to €2265.5m, but the profitability declined, mainly because of Egypt and to a lesser extent the United States, and the EBITDA came off by 2.6% to €490.9m, while the trading profit declined by 8.1% to €309.5m. Primarily as a result of the expansion in Asia, the net interest charge jumped by 60.5% to €43.9m and with a lower contribution from associates, the pre-tax profit came down by 16% to €259.5m and the net attributable fell by 19.3% to €163.6m. The net debt of 1097.1m compares with total shareholders' funds of €2460.8m, of which the equity makes up €2111.8m and minorities €349.1m. Capital investment last year was reduced by 18.9% to €280.9m, while and net spending on acquisitions was more than halved to €10.7m.