Buzzi Unicem SpA announced consolidated financial results for the six months ended June 2014. For the six months, the company reported net sales of €1,180.721 million against €1,149.713 million for the same period of last year. Operating cash flow (EBITDA) was €138.486 million against €108.485 million for the same period of last year. Operating profit (EBIT) was €14.107 million against €3.058 million for the same period of last year. Loss before tax was €11.100 million against €26.000 million for the same period of last year. Loss for the period attributable to owners of the company was €22.629 million against €37.336 million for the same period of last year. For the period, the company had almost 3% up revenue. Cash generated from operation after working capital adjustment is about €94 million. Net loss was due to complete write-down of goodwill in Ukraine, following the worsening of the country risk. Cash flow was equal to €103.6 million against €70.5 million at June 2013. Net debt as at June 30, 2014 amounted to €1,127.5 million, up €30.3 million against €1,097.2 million at December 31, 2013. Capital expenditures were €82.3 million.

The company expects capital expenditure level will go up in the second half mainly in U.S. because of the expansion at Maryneal. The total expected is around €250 million. Second half expected with operating profitability similar to 2013.

For the full year of 2014, outlook of recurring Ebitda growth above the previous year and slightly over €400 million.