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Net sales increase for Buzzi Unicem in 2012

World Cement,

Buzzi Unicem has announced its preliminary results for 2012. Total cement sales volumes were down 3.4% y/y to 27.3 million t and ready-mix concrete sales fell 9.5% y/y to 13.6 million m3 as consumption levels and construction activity varied across geographical markets. Net sales increased by 0.9% y/y, and the company reduced its net debt by €18 million.

Central and Southern Europe

The construction market in Italy continued to contract, leading to unused cement production capacity as consumption fell to approximately 25 million t. Ready-mix cement volumes also declined. The company’s net sales dropped by 15.7% y/y to €479 million. In the Netherlands, ready-mix volumes also fell, with total net sales in the country (including aggregates) coming in at €88 million, down 20.2% y/y. A combination of factors, including the economic downturn, unfavourable weather conditions and a decline in exports, meant that cement sales decreased by 8.2% y/y and ready-mix volumes by 1.5% y/y. Overall net sales fell from €637 million in 2011 to €604 million in 2012. Falling export levels also affected cement sales in Luxembourg, and total net sales dropped from €113 million to €104 million.

Eastern Europe

Building projects continued to boost cement sales in Russia, where volumes increased by 15.3% y/y. Net sales grew 33.7% y/y to €235 million. Sales volumes were less positive in other countries in the region where construction experienced a slowdown. The end of infrastructure and construction work related to the UEFA Championship resulted in falling cement sales in both Poland and the Ukraine, where cement sales fell by 17.4% y/y and 6.1% y/y, respectively. A lack of construction activity and declining demand for exports to Poland meant that cement sales also declined by 11.9% y/y in the Czech Republic.

USA and Mexico

Total net sales in North America grew by 22% y/y to reach €681 million, aided by the increased strength of the dollar and the improving scenario in the country’s building sector. In Mexico, Corporación Moctezuma saw cement volumes rise by 6.2% y/y and ready-mix concrete output up 11.7% y/y. Favourable GDP and construction trends in the region helped net sales to reach €269 million overall.

Adapted from press release by Louise Fordham.

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