Reduced production and stock levels led to a 26.6% fall in Vulcan Materials’ first quarter turnover to US$600.3m and the EBITDA dropped by 39.4% to US$96.9m, while at the trading level there was a swing from a profit of US$66.8m into a loss of US$1.3m.
Aggregates shipments in the quarter fell by 30.3% to 29.08Mt (32.05Mst), but the average price improved by 2.2% to US$11.31/t and the aggregates turnover was off by 25.0% to US$401.8m. Ready-mixed concrete volumes were down by 31.9%, while asphalt deliveries fell by 26.3%.
Vulcan’s cement volume dropped by 42.1% to 0.15Mt with the average price being off by 1.2% to US$106.92/t (US$97/st) which represented a turnover of US$19.4m and the gross contribution from cement went from a US$7.5m profit to a loss of US$1.3m.
While third party cement deliveries dropped by 61.3%, deliveries to other group companies were just 13.7% lower. For the current calendar year, Vulcan is anticipating aggregates prices to increase by around 5% but the volume to decline by between 10% and 125%.