Buzzi Unicem increases revenues by 1.9%

Buzzi Unicem increases revenues by 1.9%
Published: 04 August 2016

Tagged Under: Buzzi Unicem 1H16 

Buzzi Unicem announced that its net revenues for the first six months were up 1.9 per cent to EUR1261.3m from EUR1238.2m in 2015, while EBITDA grew by 33.5 per cent, from EUR166.6m to EUR222.5m.

After amortisation and depreciation of EUR93.5m (EUR96.5m in the previous year), EBIT was €129m (+€58.9mover 2015) and the six months period closed with a net profit of EUR91.5m,
compared to EUR36.4m in the same period of 2015.

Cement sales
Cement sales of the group in the first six months of 2016 registered a 2.7 per cent increase compared
to the same period of 2015, reaching 12.2Mt. Changes were favourable in all markets of presence, except for Italy and Russia, which achieved a moderate decline.

The group's cement and clinker sales, due to a decrease in shipments during the spring months on
both the domestic market and exports, closed the first six months down from the same period last year (-3.1 per cent), with sales prices that did not show any significant changes from the levels achieved in the 1H15.

In Germany, after a start to the year virtually in line with the levels achieved in the same period
of 2015, in the second quarter shipments showed a more lively performance and, despite the
continuous weakness of the demand for oil well cements, in the first six months our activities in
the cement sector recorded sales up 3.2 per cent on the same period last year, with slightly
deteriorated prices (-3.0 per cent).

In the Czech Republic and Slovakia cement sales in the first six months of the year confirmed
the good levels achieved in the same period of 2015 (+0.7 per cent), with average prices in local
currency virtually unchanged.

In Poland the cement deliveries recorded a positive change of 8.1 per cent. The average price level in
local currency still showed an unfavourable variance for cement (-11.8 per cent).

In Ukraine the first six months saw cement sales up 2.2 per cent, with average prices in local currency driven upwards by high inflation (+28.5 per cent). Net sales increased from EUR29.2m in 2015 to EUR31.6m in the period under review (+8.2 per cent) and EBITDA improved from EUR1.5m to EUR4.6m (+EUR3.1m).

In Russia after a start to the year marked by rather weak sales, the recovering second quarter
allowed to close the first half year with volumes down 2.4 per cent.

In the USA, stronger shipments in June caused the first six months of the year to close with a 6.1 per cent growth, despite the continuing and significant decline in sales of oil well cements. At the end of June, following the completion of the upgrade and expansion project, the new kiln line in Maryneal, Texas, was commissioned.