Buzzi Unicem recorded steady results in 2016, according to a company statement, with net sales increasing slightly from €2.226 billion in 2015 to €2.669 billion in 2016, as declines in Russia, the US and Italy were offset by more positive results from Central and Eastern Europe.
“In Poland and the Czech Republic the trend of the building sector was lively,” the company, while “the recovering of construction activity in Germany was better than expected.” Ukraine also showed “tangible signs of recovery from recession and of stabilisation of the economy,” with construction investments returning to modest growth.
Recovery in Italy remained weak, however, despite an upturn in the residential market, as spending in the public sector was low. Investment was also down in Russia, while the US returned to more normal levels of growth after robust growth between 2014 and 2015.
Cement and clinker sales totalled 25.6 million t – level with the previous year. Ready-mixed concrete output was also inline with the previous year at 11.9 million m3.
Positive cash flow from operations helped the company reduce its net debt by €88 million to €942 million. It also covered CAPEX spending of €75 million for the renovation of the Maryneal cement plant in Texas.
Read the article online at: https://www.worldcement.com/europe-cis/10022017/buzzi-unicem-reports-2016-preliminary-results/