Tough months ahead for Italcementi as Q1 loss widens

Italcementi, the world's No. 5 cement maker, on Friday reported a first-quarter net loss three times wider than a year earlier, missing expectations, and said coming months will continue to be difficult.

The net loss was 37.5 million euros ($50.31 million) while recurring EBITDA fell 28 percent to 135.7 million euros, the company said in a statement. It blamed the downturn on the weak international economic situation and a harsh winter in Europe and North America.

International market trends lead to "a forecast for a scenario less negative than that registered in the first quarter, although still difficult for the months to come because of tensions on prices in some countries", it said.

Operating results for the rest of the year will reflect the difficult market conditions despite cost cutting and efficiency measures, it said.

From China Cement (2010-5-10)