Buzzi Unicem first quarter volumes ahead

Buzzi Unicem's first-quarter turnover improved by 8.9 per cent to EUR588.5m. Net debt at the end of March was 4.1 per cent higher at EUR979.9m, while capital expenditure was reduced by 29 per cent to EUR49.2m. Cement deliveries increased by 4.5 per cent to 5.2Mt, while group ready-mixed concrete deliveries were ahead by 9.1 per cent to 2.6Mm³.

The Italian turnover advanced by 12.7 per cent to EUR95.1m as deliveries of cement and clinker showed a good improvement thanks to higher export shipments and clinker sales, but prices were slightly easier. In ready-mixed concrete, volumes were ahead, notably in the Milan area.

German cement volumes in grey cement were ahead, notably in oil-well cements while prices were slightly easier. Ready-mixed concrete deliveries were ahead by a lower percentage than for cement and prices were stable. The turnover improved by 7.3 per cent to EUR120.2m. The Luxembourg and Dutch turnover improved by four per cent to EUR39.1m as cement and clinker shipments improved slightly and prices stable, while in ready-mixed concrete both volumes and prices were ahead.

In Poland cement deliveries were modestly ahead as were prices and in ready-mixed concrete volumes were increased strongly and prices slightly ahead. Turnover rose 9.7 per cent to EUR15.9m. Czech cement deliveries were ahead and the local price was stable. Ready-mixed concrete deliveries in the Czech Republic and Slovakia advanced, both in terms of volume and price and the turnover improved by 9.3 per cent to EUR23.5m.

The Ukrainian turnover recorded a 44.4 per cent increase to EUR13m as cement shipments increased, as did ready-mixed concrete deliveries, while turnover in local currency was well ahead, reflecting the high rate of inflation. In Russia turnover advanced by 30.4 per cent to EUR33.9m, largely reflecting currency movements, with volumes improving in oil well cement but down elsewhere.  

The United States operations saw turnover increase by 5.5 per cent to EUR256.8m, as higher deliveries in the Mid-western regions and a recovery in demand for oil well cements compensated for the continued weak demand in Texas. Ready-mixed concrete deliveries suffered from the weak market conditions in Texas was well as some price weakness. There was a favourable EUR8.7m exchange rate effect.

The Mexican associate Corporación Moctezuma recorded a 20 per cent increase in turnover to EUR171.8m. Cement deliveries and prices showed improvements on a year ago, but ready-mixed concrete deliveries were below the level achieved in 2016.