Vicat sees strong French volumes

Vicat sees strong French volumes
07 May 2019

Vicat's first-quarter turnover showed 4.7 per cent improvement to EUR600m, which represents an underlying advance of just 0.3 per cent at constant parameters and exchange rates. The cement turnover also grew by 4.7 per cent to EUR302m, as cement shipments declined by four per cent to 5Mt. Before inter-sector eliminations, the cement turnover amounted to EUR353m, a 3.3 per cent improvement. The turnover in concrete and aggregates was 6.7 per cent ahead at EUR229m, which represents an underlying advance of three per cent, as aggregates shipments eased by 0.6 per cent to 5.16Mt while ready-mixed concrete deliveries declined by 10.5 per cent to 1.81<m³. Other products and services generated a turnover 0.6 per cent lower at EUR92m. The net debt ratio declined from a pro forma 37.9 to 57.4 per cent of shareholders' funds, largely as a result of the acquisition of Ciplan in January.

The French turnover improved by 8.1 per cent to EUR225m, helped by favourable weather and economic developments. The turnover in cement improved by 5.1 per cent to EUR90m, with both volumes and prices ahead. Concrete and aggregates turnover improved by 10.9 per cent, with both aggregates shipments and ready-mixed concrete deliveries being showing a favourable mix, helped by increased civil engineering activity. Other products and services saw turnover improve by six per cent, supported primarily by building chemicals and transportation.

Elsewhere in Europe, turnover improved by two per cent to EUR75m. The Swiss turnover declined by 3.8 per cent, but the reduction at constant parameters was a more modest 1.1 per cent. Underlying cement sales showed a 1.2 per cent recovery, or +4.1 per cent as published. Turnover aggregates and ready-mixed concrete showed an underlying 0.4 per cent fell with volumes stable in aggregates and a slight ease in ready-mixed concrete. The precast concrete turnover declined by an underlying 14.1 per cent, while being off by 11.7 per cent as published. The Italian turnover showed a 73 per cent advance as the field of integration was increased and a slight economic recovery was being seen.   

The Americas, which following the addition of Brazil in January this year, saw its turnover rise by 31.8 per cent to EUR115m, with the underlying turnover being a 3.7 per cent decline. The underlying cement turnover in the USA showed a 6.2 per cent decline as Californian volumes dropped substantially because of adverse weather conditions during the period. Volumes in the Southeast were only modestly lower. Cement prices improved in both areas. In ready-mixed concrete, turnover declined by 4.6 per cent as an improvement in the Southeast was insufficient sake up for the Californian drop. Prices advanced both in California and in the Southeast. In Brazil economic activity is beginning to recover and EUR19.3m were generated from the sales of almost 0.35Mt of cement. Some EUR6.1m was turned over from the sale of some 0.33Mt of aggregates and more than 78,000Mm³ of concrete.

Turnover in Turkey and Egypt declined by 31.4 per cent to EUR34m, but on unchanged exchange rates the decline was reduced to 18.5 per cent. The Turkish turnover showed a underlying drop of 44.2 per cent to EUR23.6m. The cement turnover declined by 27.1 per cent on an underlying basis and by 44 per cent as published. The turnover in aggregates and concrete declined by a published 41.8 per cent. Both aggregates and ready-mixed concrete prices improved but not sufficiently to make up for the drop in volumes. Egyptian turnover showed a 35.9 per cent recovery to EUR10.1m, but prices were slightly lower.

The Indian and Kazakhstan turnover declined by 4.3 per cent to EUR90m. The Indian turnover declined by 6.3 per cent, or by 7.4 per cent as published, to EUR81m. The volumes sold declined by more than 14 per cent to just under 1.5Mt as the company concentrated on prices. In Kazakhstan turnover rose by 49.8 per cent to EUR8.8m, but at constant exchange rates the advance was 38.5 per cent. The Kazakh volumes rose by more than 11 per cent.

Africa saw turnover improve by 0.5 per cent to EUR61m. Cement prices were slightly better in Senegal but declined in Mali and in Mauritania. Aggregates volumes improved by almost 14 per cent and prices increased further.


Published under Cement News

Tagged Under: France Vicat business results