Buzzi Unicem FY21 preliminary regional results see 7% rise in cement sales

Buzzi Unicem FY21 preliminary regional results see 7% rise in cement sales
10 February 2022

Cement sales of the Buzzi Unicem group amounted to 31.2Mt in 2021, increasing by 6.7 per cent when compared to 2020. Ready-mix concrete output, which stood at 12.1Mm3, was also up, by 3.4 per cent, compared to the volumes of last year. Consolidated net sales for the financial year increased from EUR3222.4m to EUR3445.6m.

The sales volumes achieved by the group in 2021 exceeded the level of those reached in the previous year, thanks to the progress recorded in Italy, the USA and eastern Europe. This advance was driven by a healthy domestic demand and construction investments, as well as by the overall favourable weather conditions. These trends offset the weakness registered in Germany, which was affected by the unfavourable climate, especially in the summer period. 

Hydraulic binders and clinker volumes, progressing in the first six months of the year, maintained their upward path in the second half, thanks to the soundness of domestic demand and the mild climate. Average selling prices for the whole of the year showed a positive trend.

Buzzi Unicem shipments of hydraulic binders, after a slight decline in the first part of 2021, confirmed this weak trend during the second half, penalised by the unfavourable climate and uncertainties related to the trend of Omicron infections in the last quarter.

Luxembourg and The Netherlands
In Luxembourg and The Netherlands, Buzzi Unicem's cement deliveries, after a robust first half, showed a slight slowdown during the second half of the year, closing 2021 well progressing, with selling prices increasing.

The construction sector maintained some stability over the year as a whole, thanks to the solidity of residential demand and infrastructure investments, while the commercial remained weak. These dynamics were reflected in the company's cement volumes which, after a weak first half, showed good results in the 2H21, closing the year progressing.

Czech Republic
Cement sales, after a progressing first semester, confirmed the positive trend also in the second half of the year, closing 2021 clearly improving compared to 2020. Average selling prices in local currency increased.

The recovery in the construction sector, helped by government stimuli, and the imposition of tariffs on imports from Turkey, pushed the company's cement sales upwards for the whole of 2021. Selling prices in local currency, which were negative in the 1H21, grew during the 2H21, driven by inflation.

Following a steady advance in the 1H21, cement sales, continued somehow steadily in the 2H21, thanks to the soundness of demand and still favourable weather conditions, closing 2021 with improved results when compared with the previous year.

Overall net sales amounted to EUR1329.6m, up 5.5 per cent compared to EUR1260.6m in 2020. “Sales of hydraulic binders, thanks to the solidity of demand and to generally favourable weather conditions, especially during the fourth quarter, confirmed the progress already recorded in the first half, closing 2021 at satisfactory level,” said Buzzi Unicem.

After a particularly solid first half, sales by the associate Corporación Moctezuma, showed marginal weakness in the second half of the year, due to a slowdown in activity in the construction sector, closing the year on a more positive note when compared to 2020.

The robust trend of cement shipments carried out by Buzzi Unicem's joint venture in the first part of 2021 was also confirmed in the second half, closing the year progressing compared to 2020. “The additional contribution referred to the companies of the CRH group operating in Brazil, acquired in April, was significant,” said Buzzi Unicem.

The company forecasts the consolidated financial statements for 2021 to close with a recurring EBITDA of about EUR795m.

Published under Cement News