The Italian turnover declined by 2.1% to EUR493.4m, while the EBITDA fell by 15.4% to EUR98.4m. The reduction in margins reflect an average decline in cement prices of 0.6% in combination with higher costs and lower ready-mixed concrete deliveries. Cement and clinker volumes, however, did increase by 3.6%. In ready-mixed concrete, weaker underlying demand, in particular from the public sector, combined with wet weather in May and June, led to an 8.3% reduction in shipments.
Eastern European cement shipments rose by 25.1% and the turnover increased by 53.2% to EUR311.1m and the EBITDA advanced by 63.3% to EUR101.6m. Ready-mixed concrete in the three countries where the group is active in this activity rose by 24.4%, with the highest advance being seen in the Ukraine, where the product is still in its infancy, with a jump of around 64%. In Poland, cement deliveries rose by 39.1% and prices by 17.0%, while in the Ukraine volumes were ahead by 34.4% and prices by 61.2%. The Czech and Slovak cement prices were only some 3% higher, but volumes rose by 30.9%. In Russia, on the other hand, where capacity limitations limited the volume increase to 7.0%, cement prices shot up by 43.6%.
