Italian cement company Buzzi Unicem has released its interim results as of 30 September 2013.
- Recovery of sales volumes in 3Q13, with a slightly favourable price effect.
- Encouraging trading conditions in the US, Russia and Poland.
- Weak trading conditions in the Czech Republic, Ukraine, Mexico and Italy.
- For FY13, outlook of recurring EBITDA decreased by 5% to 10% from the previous year.
- Targets of net debt reduction have been confirmed.
Results for the first nine months of 2013
- Cement sales remained relatively stable at 20.6 million t, compared to 20.8 million t in the first nine months of 2012.
- Ready-mix sales decreased from 10.3 million m3 in 2012 to 9.6 million m3 in 2013.
- Net sales slightly decreased from €2146 million in 2012 to €2079 million in the first nine months of 2013.
- EBITDA declined from €373 million in the first nine months of 2012 to €336 million in 2013.
- Consolidated net profit fell from €57.4 million in 2012 to €21.8 million in the first nine months of 2013.
- In Italy results will continue to be unsatisfactory, despite higher exports and clinker sales.
- Central Europe should end the year with results in line with 2012, due to a recovery in sales volumes.
- In Eastern Europe, the company expects countries (except Poland) to post lower results than in 2012.
- The US should continue its favourable volume/price mix.
- In Mexico, the demand trend is likely to continue into the last quarter of FY13, meaning results will remain weaker than in 2012.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.worldcement.com/europe-cis/14112013/buzzi_unicem_release_results_for_the_first_nine_months_of_2013_418/