Six months of profit consolidation for Italcementi Spa The group announces a closing of the semester at 187,8 million euro, against the 81,8 recorded in the same period last year. The result takes into account the receipt of capital gains from the already announced disposals of assets in Turkey. Consolidated revenues up by 2,1%, equal to 2.452 million euros, to be compared with 2.401,3 in 2010. A 24,2% drop in operating income, which amounts to 157,9 million. Their operating margin also decreased, going down from 440 million last year to 372,1 million.
Net financial debt went from 2.230,9 million at the end of 2010 to 2.256,7 at 30 June 2011 (including the 217,7 million of Calcestruzzi's reconsolidated debt). Total investment flow equal to 219,9 million against 272,4 in the first half of last year. As regards the forecasts for the rest of the year, the company points out that "overall the operating results for the second half should be comparable to those achieved during the second half of 2010, except for the Egyptian situation". On this front, in fact, "a significant unknown factor remains open", but - the group hopes - "one can hope for a gradual return to conditions of stability only after the holding of the elections expected in the autumn".
