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Uralita: disposals hit nine-month net profit

Building materials group Uralita closed the first nine months of 2004 with earnings of EUR 27.06 million, down 16.4% on the same period in 2004, the company said 11 November 2005.
The company said it…

Building materials group Uralita closed the first nine months of 2004 with earnings of EUR 27.06 million, down 16.4% on the same period in 2004, the company said 11 November 2005. The company said its results were affected by the disposal of non-strategic activities, principally the chemical division to Ercros, as well as unfavorable cycles in certain markets such as Germany for insulation or Portugal for roofing. Turnover for the January – September 2005 period was EUR 868.88 million, down 11.7%. On a constant basis, turnover rose 1.1%. EBITDA reached EUR 117.7 million, down 17.6%, while the group net debt at 30 September 2005 was EUR 155.3 million, 43.3% lower than on the same day in 2004. Uralita emphasised that the significant reduction of its debt had translated into an improvement in its financial costs and, at the same time, allows the group to consider significant future growth opportunities. The insulation division posted turnover of EUR 325 million for the nine month period, up 0.6%, compared to EUR 151.6 million for plaster (up 9.6%), EUR 143.7 million for roofing (17% lower) and EUR 128.4 million for pipes (down 19%).

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