Buzzi Unicem reports 2.2% increase in first quarter cement sales

Buzzi Unicem reported an increase of 2.2% in its first quarter cement sales volumes and a 3.4% rise in net sales for the period. At €27.2 million, EBITDA was also significantly improved from 1Q14’s €10.3 million.

The improved results are attributed to good trading in Eastern Europe (notably in Russia, Poland and the Czech Republic), bolstered by the addition of the Korkino plant in Russia, and improvements in US operations, though hampered by unfavourable weather in March.

In Central Europe, sales were down y/y, which is attributed to the mild weather of 1Q14. Buzzi Unicem reported that it was able to offset weakness in the Italian market by improving exports and shipments of clinker.

Consolidated net sales revenue rose 3.4% to €513.4 million, gross of a foreign exchange effect which gave a positive contribution of €10.8 million. Like-for-like net sales would have increased 0.3%. Recurring EBITDA increased from €11.6 million to €23.4 million, while EBIT was negative €19.2 million, up from negative €37.4 million in 1Q14.

For the full year, Buzzi Unicem expects markets to develop in line with its initial forecast of a slight improvement from 2014.

Source

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