Vicat - August 2014
Vicat's first-half turnover increased by 6.1 per cent to EUR1217.8m, which amounts to a 10.8 per cent advance on a comparative basis. EBITDA was ahead by 3.1 per cent to EUR207.7m and the margin narrowed from 17.5 per cent to 17.1 per cent. The trading profit, however, improved by 9.4 per cent to EUR115.2m, an underlying increase of 15.8 per cent. After a net financial charge 38.2 per cent higher at EUR29.7m and a 20 per cent decline in the income from associates to EUR1.7m, the pretax profit declined by 3.7 per cent to EUR84.4m and the net attributable profit came off by seven per cent to EUR50.7m. Capital spending in period declined by 6.4 per cent to EUR73m and should amount to some EUR140m for the full year. The net debt was 4.7 per cent lower at EUR1183m, giving a gearing level of 52.7 per cent.