Buzzi Unicem expects US market to improve

Buzzi Unicem reported growth slowing in the second half of its finanancial year 2014, with demand weakening in Europe and Asia, but the US remained largely positive. Earnings were up 4.8% to €423 million (+10.2% on a like-for-like basis). In 2014, Buzzi Unicem sold 25.1 million tonnes of cement and 12 million m³ of ready-mix concrete. Consolidated net sales were down 0.1% to €2,506.4 million. On a like-for-like basis, net sales would have increased by 3.4%. Foreign exchange rates negatively impacted for
April 1, 2015 Read time: 2 mins

1451 Buzzi Unicem reported growth slowing in the second half of its finanancial year 2014, with demand weakening in Europe and Asia, but the US remained largely positive.

Earnings were up 4.8% to €423 million (+10.2% on a like-for-like basis).  In 2014, Buzzi Unicem sold 25.1 million tonnes of cement and 12 million m³ of ready-mix concrete.

Consolidated net sales were down 0.1% to €2,506.4 million. On a like-for-like basis, net sales would have increased by 3.4%. Foreign exchange rates negatively impacted for €91.1 million. Profit before tax was €175.6 million, while profit after tax was €120.5 million. Net debt stood at €1062.7 million at the year end, down €34.5 million y/y.

In 2015, it is reported that Buzzi Unicem expects visible improvement in the US, while in the EU countries (other than Italy) a similar, or in some cases improved, performance is expected.

Russia and Ukraine are likely to see a further slowdown in demand and a penalising foreign exchange effect. Recurring EBITDA is likely to turn out slightly higher than in the previous year.

Quarry Products Auctions, Used Equipment, Rental & Finance

For more information on companies in this article

Related Content

April 2, 2015

Italy’s Buzzi Unicem posts €120.5mn net profit in 2014

Buzzi Unicem, the Italian building materials manufacturer, posted a €120.50 million net profit in 2014 from a €43.2 million loss posted in 2013.

Revenues fell 0.1% to €2.51 billion, while EBITDA grew 4.8% to €423 million and by 10.2% at current exchange rates on a like-for-like basis.

The company's net debt dropped by €34.5 million to € 1.06 billion, while Buzzi Unicem's parent company registered a €36.6 million net loss from a €119.6 million loss posted in the previous year.

August 1, 2014

Financing costs rise hits Italcementi H1 2014 turnover

A sharp rise in financing costs is said to be behind Italcementi's turnover decline of 6% to €2.048.4 billion in H1 2014. The running Ebitda improved by 2.2% to €304.8 million helped by a 6.2% reduction in the amortisation and depreciation charge, while the trading profit improved by 27.7% to €99.8 million.

The 66.5% hike in financing costs, largely related to interest rate derivatives and derivatives on CO2 hedging, is said to have led to a net financial charge of €75.1 million. After contribution fro

boombox1

Highlighted Content

boombox2