Vicat reported 1H25 net sales fell 2.7 per cent as reported and 0.2 per cent like-for-like (LfL) due to a slowdown in USA, India and Africa. Consolidated sales totalled EUR1885m compared to EUR1937m in the 1H24. EBITDA totalled EUR331m in the 1H25, down 6.3 per cent (two per cent LfL) compared to EUR353m in the 1H24. Consolidated net income reached EUR116, up 1.1 per cent as reported and 6.3 per cent LfL.
Regional results were strongest in the domestic market of France, where sales totalled EUR608m, accounting for 32 per cent of sales in the 1H25.On a reported basis, this represents a 2.4 per cent uptick but a 3.8 per cent decrease LfL. The Americas recorded reasonable sales of EUR465m, down 5.8 per cent (-1.5 per cent LfL) from EUR494m in the 1H24. American sales were hampered by weather conditions, but the Raglan plant had continuous increases in sales volumes.
Asian sales reached EUR204m, down 15.9 per cent as reported and -10.6 per cent LfL, while the Mediterranean sales were stable at EUR212m (up 28.5 per cent LfL) in the 1H25. European sales totalled EUR215m, up 9.2 per cent as reported and 7.1 per cent LfL from EUR197m in the 1H24. African sales totalled EUR181m, down eight per cent (-7.8 per cent LfL) from EUR196m in the 1H24.
Highlights in terms of individual countries included Egypt, where exports accounted for more than 50 per cent of the sales volumes,while the domestic market also showed signs of recovery with solid prices. Brazilian EBITDA through the Ciplan subsidiary reached EUR27m in the 1H25, up 14.2 per cent YoY. In Switzerland sales totalled EUR215m in the 1H25. Solid market performance saw success in low-carbon cement sales.
Vicat group's net capital expenditure reached EUR124m versus EUR186m in the 1H24. Kiln No 6 started up in Senegal on 7 June 2025 with cost savings of EUR20/t expected to take effect in the 2H25.
