Votorantim - December 2012

During the first nine months of 2012, Votorantim sold 3.4 per cent more cement in Brazil, which accounted for 89.4 per cent of the group cement volume as it was at the time, or 18.49Mt. Brazilian cement prices improved by around five per cent. In North America, volumes advanced by 17.4 per cent to 2.16Mt, but the dollar price declined by 13 per cent. Turnover improved by 9.9 per cent to BRL7192m (€2633m) and the EBITDA rose by 16.2 per cent to BRL2226m (€815m). The improvement in the EBITDA was helped by a four per cent decline in petcoke prices and a five per cent increase in energy efficiency.

It was reported by Bloomberg that Votorantim Cimentos was planning a US$3bn IPO for 2013, but the company said 'such a move is not Votorantim's actual plan'. Banco Itau and JP Morgan Chase both refused to comment, in line with company policy.