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Italcementi expects full-year growth in cement sales volumes

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World Cement,

Italcementi reported mixed results across its geographical markets for the first quarter of the year. Uncertainty in Europe and Egypt contrasted with strong prospects for North America and good performances in India, Morocco and Thailand. Revenue for the period amounted to €980.5 million, up from €932.9 million in 1Q14. The group’s efficiency plans had a positive impact of more than €17 million in the quarter, while income on carbon emission rights reached €21 million. At €95.2 million, EBITDA was little changed from 1Q14 (€95.5 million) in spite of the negative volume/price dynamic in some countries, high energy costs in Egypt and maintenance costs in North America. The most significant progress in recurring EBITDA was in India, largely due to the sales price effect, and Morocco, where the group achieved higher revenue and containment of variable costs. Declining revenue effected EBITDA in France-Belgium, while a rise in variable costs put pressure on operations in Egypt. Gains from carbon emission rights were offset by weak sales prices in Italy.

Going forward, Italcementi expects to report growth in full-year sales volumes and moderate growth in recurring EBITDA.

Adapted from press release by

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