Vicat sees weaker start to 2009

Vicat sees weaker start to 2009
30 January 2009

Vicat’s turnover in 2008 declined by 3.7% to EUR2,057m, which represents an underlying reduction of 3.0%.  On a comparative basis, turnover in cement advanced by 1.5% to EUR929m, but in aggregates and concrete there was a 7.8% reduction to EUR845m, while in other activities there was a 2.4% reduction to EUR283m. Cement accounted for 45.1% of turnover and concrete and aggregates for 41.1%. Group cement deliveries emerged 0.4% higher at 14.21Mt, while aggregates shipments declined by 4.4% to 21.58Mt and ready-mixed concrete deliveries dropped by 5.2% to 8.73Mm³.
The French turnover deteriorated by 1.4% to
EUR1017m, with weaker volumes in the second half, and in particular in the final quarter.  As a result, the cement tonnage declined by 3.4%, aggregates shipments fell by 7.1% and ready-mixed concrete deliveries declined by 1.5%.  In the rest of Europe, underlying turnover edged ahead by 0.6% to EUR283m.  The Swiss cement turnover rose by nearly 9% thanks to improved prices and product mix.  Concrete and aggregates turnover improved by almost 4%, with stable aggregates volumes but a slight reduction in ready-mixed concrete.  The Italian turnover fell by 5.0% as the economic environment deteriorated.
In the United States turnover fell by an underlying 25.8% to
EUR268m.  In California turnover dropped by 10.2% in cement and by 28.7% in ready-mixed concrete.

The underlying turnover in Turkey declined by just 0.9% to €187m.  Turkish cement volumes increased by 5.8% thanks to higher exports, which more than made up for lower volumes in the domestic market. Ready-mixed concrete volumes were increased by 7.0%, but at the expense of margins, while aggregates volumes declined by 0.8%.  In Africa and Egypt, turnover improved by 17.0% to
EUR302m.  In West Africa, cement deliveries were marginally ahead, with turnover improving by 6.9%, while in Egypt there was a 19.5% advance in deliveries and the turnover jumped by 38.2%, helped by a favourable trend in prices.
The full results will be announced on the 2nd of March.
Published under Cement News