Italcementi: only Asia shows sales growth in 2013

Italcementi:  only Asia shows sales growth in 2013
Published: 07 February 2014

Tagged Under: Italcementi Results Italy USA Asia Egypt 

Italcementi's turnover declined by 5.4 per cent in 2013 to EUR4235.4m, or by 2.2 per cent on a comparable basis. Group cement shipments declined by a further six per cent to 43.1Mt and the turnover from cement and clinker was down by 6.4 per cent to EUR2716.8m, with cement volumes lower everywhere other than in Asia and in North America.

The concrete and aggregates turnover eased by 2.5 per cent to EUR1248.7m as shipments of aggregates declined by 4.2 per cent to 32.5Mt and ready-mixed concrete deliveries were 4.7 per cent lower at 12.3Mm³. The sales contribution from other activities was reduced by 8.5 per cent to €269.9m.

The western European turnover was 7.5 per cent lower at EUR2234.8m as cement and clinker volumes declined by 9.3 per cent to 14.5Mt. Italian cement shipments fell by a further 19 per cent, or by 1.3Mt to 5.4Mt. Italian prices, however, have performed rather better. Elsewhere in western Europe, cement deliveries declined by a more modest 1.7 per cent to 9.1Mt. The European downstream volumes were also in reverse, with aggregates shipments being down by 4.3 per cent to 29.1Mt, of which Italy represented 2.1Mt. Ready-mixed concrete deliveries declined by 11 per cent to 8Mm³, but outside Italy, the reduction was just 1.8 per cent to 5.2Mm³. 

Turnover from the Mediterranean and Black Sea regions declined by 6.4 per cent to EUR944m, with Egypt recording a 17.6 per cent volume reduction as energy shortages hit exports. Cement and clinker shipments were down by 11.7 per cent to 13.2Mt largely on the back of lower Egyptian shipments. Aggregates volumes were 6.7 per cent higher at 1.9m tonnes, helped by continued strong volumes in Morocco. Ready-mixed concrete deliveries advanced by 7.3 per cent to 2.5Mm³, with Morocco registering a 12.6 per cent increase.

Asian turnover improved by 2.1 per cent to €532.1m as cement deliveries improved by 3.8 per cent to 10.5Mt, as cement deliveries increased by 5.5 per cent in Thailand and by 1.6 per cent in India. The Asian downstream activities remain modest in group terms and are dominated by Thailand. Aggregates shipments amounted to an insignificant 0.1Mt, but ready-mixed concrete deliveries jumped by 37.2 per cent to 1.0m m³ as shipments grew by 36 per cent in Thailand, the main market, and by 45.8 per cent in Kazakhstan.

The North American turnover declined by 2.5 per cent to €428.7m. Cement deliveries improved by 1.5 per cent to 4.3Mt, but ready-mixed concrete deliveries were off by 9.7 per cent to 0.7Mm³. Sales of aggregates fell by 10 per cent to 1.4Mt, after two strong years.

The international trading activities experienced a 17.3 per cent reduction in turnover to €176.1m as the cement and clinker trading volume declined by 17 per cent to 3Mt. The full 2013 results are scheduled to be announced on 6 March 2014.