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

Quarry Products / July 23, 2015

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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