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
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 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.
