Vicat posts 16% increase in 9M consolidated revenue

Vicat posts 16% increase in 9M consolidated revenue
08 November 2022

Vicat posted a 15.7 per cent YoY increase to EUR2697m (US$2691m) in consolidated revenue at constant scope and exchange rates in the January-September 2022 period. On a reported basis, the increase was 14.6 per cent YoY. The variation takes into account a negative foreign exchange effect of more than EUR9m as the euro appreciated against the lira and the Egyptian pound. The scope of the result also fell by nearly EUR17m due to the sale of Créabéton in Switzerland, which was only partly offset by acquisitions in the concrete and aggregate business in France.

The company attributes the advance to solid revenue growth across all regions, supported by a sharp rise in selling prices.

In France consolidated revenue (at constant scope and exchange rates) increased eight per cent to EUR889m in the 9M22 from EUR824m in the year-ago period. However, in the rest of Europe, consolidated revenue slipped 4.5 per cent YoY from EUR301m to EUR288m over the same period. In the Americas the consolidated revenue advanced 27.4 per cent to EUR637m in the 9M22 from EUR500m in the 9M21. The result for Asia saw a 17.6 per cent increase to EUR376m from EUR320m while in the Mediterranean market the company saw its largest upturn in consolidated revenue, which advanced 56.8 per cent YoY to EUR260m from EUR166m in the 9M21. Consolidated revenues in Africa edged up by 1.4 per cent YoY from EUR242m to EUR245m in the 9M22.

Vicat Chairman and CEO, Guy Sidos, said: “The performance of the Vicat group as of September 30 reflects the resilience of its markets, despite a high basis for comparison in 2021. In a context of very high inflation, the Group recorded a solid increase in its turnover compared to the same period in 2021, supported by strong growth in selling prices in all areas. In a global context that offers little short-term visibility, particularly on energy costs, the Group is pursuing its strategy of improving its industrial performance, increasing the use of secondary fuels, and reducing its carbon footprint, while implementing a pricing policy adapted to this new environment”.

Published under Cement News