Italcementi’s international subsidiary Ciments Français increased its first half turnover by an underlying 6.9 per cent to €1675m. In absolute terms the increase was 10.2 per cent, thanks to the initial consolidation of Suez Cement Company in the second quarter. This, in combination with generally higher cement prices, helped boost cement and clinker sales from 64.3 per cent to 66.2 per cent of turnover. The growth in concrete and aggregates was less pronounced, with an underlying 3.3 per cent to €524m.
The European Union represented a turnover of €932m, or 55.6 per cent of the total, with North America contributing 15.8 per cent. Overall cement and clinker volume rose by around 13 per cent to some 19.4Mt, which represents an underlying increase of approximately three per cent. Greece was the only country to report a significant decline in domestic deliveries with a 16 per cent drop, but in Belgium a similar increase was seen as CCB recovered market share. Shipments in France were broadly stable, while Spain recorded a one per cent improvement. Bulgarian domestic deliveries rose by some 15 per cent, but overall volumes were little changed as export shipments were reduced. In North America, a 3.5 per cent volume increase translated into an underlying increase in turnover of 13.4 per cent, +8.4 per cent on conversion, to €265m as cement prices rose. Good growth in domestic deliveries were seen in most other overseas markets, with approximate increases reaching 17 per cent in India, 15 per cent in Thailand, 11 per cent in Turkey, 10 per cent in Kazakhstan and seven per cent in Morocco. Moroccan export shipments to group operations Mauritania and the Gambia also increased.