Buzzi Unicem
Buzzi Unicem's turnover in the first quarter declined by 1.3% to €562.23m and the EBITDA dropped by 47.6% to €22.4m. The loss at the trading level jumped by 87.3% to €34.1m. Net financial costs declined by 0.6% to €27.9m, resulting in a seasonal pre-tax loss 38.1% higher at €64.5m. Net debt at the end of March was 5.4% higher at €1204.6m, 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 this time, all in Germany.