It represents a 4% reduction compared to an exceptional 2007
URALITA?S SALES REACH 792.4 MILLON EUROS
IN THE FIRST NINE MONTHS OF 2008
· The net attributable profit was 58 million euros, the second highest
in the third quarter in Uralita?s history, and only behind the
extraordinary figure achieved in 2007.
· Uralita?s net attributable profit Compound Annual Growth Rate
(CAGR) grew 29% between 2005 and 2008.
· Uralita maintains a solid balance sheet, and its debt is only 1.2
· Over the recent years, Uralita has diversified its activity both in
terms of geography and businesses, which enables it to better
confront the currently adverse environment.
Madrid, 7th of November 2008 - Uralita has practically maintained sales over the first
nine months of 2008 compared to an exceptional 2007. In a context of international
financial crisis affecting the construction activity, Uralita?s sales reached 792.4 million
euros, only 4% below the same period of 2007. It was possible to achieve this figure
because of the company?s drive for internationalization in its insulation business and
because of the performance of its Iberian businesses (Gypsum, Roof tiles and Piping)
which, in an adverse macro-economic situation, are doing better than the industry?s
average thanks to its leadership positions.
Uralita?s EBITDA was 133 million euros, representing a 26% reduction compared to the
same period in 2007. This decrease was due to an activity contraction, price reductions
in some countries and to the difficulty to transfer cost increases to the final customer.
However, the strength of its balance sheet, the low debt levels and the lower tax
burden in Spain and Germany have enabled Uralita to recover part of this fall at the
level of net attributable profit, which was 58 million euros between January and
September 2008. This figure was the second highest in Uralita?s history for the third
quarter, only behind the exceptional 2007.
Despite Uralita?s reduction in net attributable profit caused by the tough comparison
with an extraordinary 2007, the evolution of the key figures is in line with company?s
plans. Hence, if the period between 2005 and 2008 is considered, the net attributable
profit Compound Annual Growth Rate (CAGR) in the third quarter is 29%,
demonstrating the strength of Uralita?s businesses.
It is important to point out that the company is currently enjoying a sound financial
situation. Uralita?s net debt is at quite low levels and it currently stands at 1.2 times
KEY FIGURES OF THE PROFIT AND LOSS STATEMENT
Estrategia de futuro
In this context, Uralita is pursuing two main lines of action. First, it is boosting growth in
regions or products with a positive outlook. In this sense, Uralita continued with its
international diversification strategy with the entrance of the Turkish market, through
the acquisition of Özpor?s glass wool insulation business and continued developing
new capacity especially in its insulation business.
Second, it is focusing in cash flow generation. Uralita?s businesses are working to
adjust the available capacity to a scenario of lower demand, to control costs tightly and
to reduce working capital through careful management of clients and stocks.
Uralita is a Spanish building materials multinational founded in 1907. Nowadays, it operates in
35 countries and it has 40 factories in Europe and is currently building five new plants. The
company?s strategic business areas are Insulation (under the URSA® brand), Gypsum (under
Pladur® and Algiss® brands), Roof tiles (under the Cobert® brand) and Piping (under the
Adequa® brand). Uralita is the leading light building materials company in the Iberian Peninsula,
and is the third European insulation producer. The company has 4,059 employees (December
For more information please contact:
Gonzalo Torres / José Luis González
Phone: + 34 91 702 71 70
Mobile: +34 610275845 / + 34 661850384
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