Spanish building products group Uralita posted a net profit of EUR 43.3 million in 2004 compared to a loss of EUR 41.9 million in the previous year, the company informed on 23 February 2005. EBITDA pr…
Spanish building products group Uralita posted a net profit of EUR 43.3 million in 2004 compared to a loss of EUR 41.9 million in the previous year, the company informed on 23 February 2005. EBITDA profit rose from EUR 162.1 million in 2003 to EUR 189.8 million in 2004, a gain of 17.1%. Sales in 2004 increased to EUR 1,316 million, up a mere 0.1% on the EUR 1,314.6 million in 2003 although debt decreased from EUR 451.1 million in 2003 to EUR 292 millon in 2004. At a press conference, group president Javier Serratosa acclaimed the the results and noted that in 2004 “the targets we set ourselves were exceeded, given that we expected to make EUR 42 million in profit and we reached EUR 43.3 million, so we hope to give our shareholders a good dividend”. Serratosa also referred to the outlook for 2005 and said that “we want to continue improving profitability and to forget the horrible year that was 2003, when we carried out the task of shaking out and restructuring the group”. In the view of the group president, “in 2005 we will get ready to be able to make acquisitions in 2007”. Serratosa said the group intended to sell its chemical division to Ercros, which has offered EUR 180 million. On the performance of the groups various businesses, Serratosa highlighted the insulation division, whose sales of EUR 435.3 million (up 0.2%) accounted for 33% of group turnover. The plaster division grew 13% to EUR 182.2 million, or 10.6% of turnover. Roofing, which contributes 17% of turnover, slipped back 11.4%. Pipes also registered a fall of 6.5% in 2004 while chemicals was up 21%. Serratosa announced the appointment of Frank Wojtalewicz as the new director general of the group; he will combine his new assignment with his present job as director of the insulation division.