Vicat advances in all group markets except France and Italy

Vicat advances in all group markets except France and Italy
Published: 05 November 2014

Tagged Under: France Vicat Results 

Vicat's turnover for the first nine months of the year improved by 6.1 per cent to EUR1847m, which represents an underlying advance of 9.7 per cent. The gearing level was little changed at 51.7 per cent at the end of September compared with 51.3 per cent a year ago and lower than the 52.7 per cent seen at the end of June. Turnover in cement was 10.1 per cent higher at EUR1129m, which represented 53.6 per cent of the group total.

Cement deliveries rose by 15.7 per cent to 15.82Mt.  The aggregates and concrete turnover eased by 0.4 per cent to EUR670m, or 31.8 per cent of the group total, with shipments of aggregates declining by 5.7 per cent to 16.21Mt and deliveries of ready-mixed concrete falling by 2.1 per cent to 6.27Mm³. Turnover from other activities was 0.8 per cent ahead at EUR309m, or 14.7 per cent of the group total.

The French consolidated turnover declined by 1.3 per cent to €642m in the nine months, with the cement turnover lower at 3.2 per cent to EUR275m though volumes edged ahead by 0.2 per cent per cent as both the mix and price levels were somewhat unfavourable. The third quarter saw turnover down by 13.6 per cent as volumes were off by seven per cent.  Aggregates and concrete turnover declined by 3.2 per cent to EUR324m, with selling prices slightly lower in concrete but improved in aggregates. Volumes declined by more than five per cent in aggregates but improved by almost two per cent in ready-mixed concrete. Other products and services saw turnover recover by two per cent to EUR182m. 

Turnover in the rest of Europe eased by 0.2 per cent to EUR317m, or by 1.4 per cent on a comparable basis. The Swiss turnover fell 1.4 per cent. Cement deliveries declined by some three per cent, with turnover dropping by 5.7 per cent, with third quarter volumes registering a reduction in excess of eight per cent. Concrete and aggregates turnover advanced by 0.3 per cent with prices easing in aggregates but being slightly ahead in ready-mixed concrete and volumes being lower. In pre-cast concrete, turnover improved by 0.7 per cent to EUR100m. Italian turnover declined by 4.9 per cent but did improve by 3.9 per cent in the third quarter.

In the United States, turnover advanced by a further 10.8 per cent to €184m, with the underlying improvement being 13.7 per cent. The cement volume improved by a further 11 per cent, with growth of 13 per cent in California and of nine per cent in Alabama. Selling prices improved by more than eight per cent in both the southeast and in California. The ready-mixed concrete turnover improved by an underlying 12.4 per cent and volumes increased by seven per cent. California saw a more important volume growth than did the southeastern states. In the third quarter, turnover advanced by 7.8 per cent.   

Turnover in Asia increased by 11.6 per cent to EUR403m, but at unchanged exchange rates the growth would have been 28.3 per cent. The Turkish turnover improved by 11.3 per cent to EUR204m, and the turnover in cement increased by 15.1 per cent as higher prices more than made up for a volume reduction of close to seven per cent. The underlying turnover in concrete and aggregates declined by 2.9 per cent, with volumes easing in both aggregates and ready-mixed concrete but prices did improve. The Indian turnover amounted to EUR174m, an underlying increase of 58.6 per cent as volumes rose by some 52 per cent to almost 3.6Mt and selling prices improved from the second quarter. In Kazakhstan, turnover increased by 19.8 per cent to EUR59m with volumes advancing by almost 27 per cent but pricing deteriorated. The volume reached almost 1.1Mt. In the third quarter volumes rose by close to 70 per cent and turnover rose by an underlying 59.4 per cent.   

In Africa and Egypt, turnover staged a 22.9 per cent recovery to EUR301m. The Egyptian turnover rose by 61.6 per cent at constant exchange rates as selling prices advanced and volumes were up by in excess of 34 per cent, helped by an improved security situation in Sinai. Turnover in western African improved by 13.4 per cent with improvement in all the main markets. Cement volumes improved by in excess of 15 per cent but prices were somewhat lower. The third quarter turnover rose by 13.0 per cent.