Italcementi: European decline largely offset by Asian improvement

Italcementi's group cement shipments in 2012 saw a decline of 6.6 per cent to 45.9Mt with cement volumes being down in Europe and in the Middle East, but improving elsewhere.

Group turnover declined by 3.8 per cent last year to €4480.1m, or by 4.9 per cent on a comparable basis and the turnover from cement and clinker was off by three per cent to €2903.5m. In concrete and aggregates, turnover fell by 7.8 per cent to €1280.3m as shipments of aggregates fell by 10.8 per cent to 34Mt and ready-mixed concrete deliveries were also down by 10.8 per cent to 12.9Mm³.

Western Europe

The western European turnover was down by 9.8 per cent to €2417.9m as cement and clinker volumes fell by 16.1 per cent to 16.0Mt. Italian cement shipments were down by around a quarter, or by 2.2Mt to 6.7Mt. Italian prices, however, continued to recover. Elsewhere in western Europe, cement deliveries declined by 8.8 per cent to 9.3Mt. The European downstream volumes also fell, with aggregates shipments being down by 12.4 per cent to 30.5Mt, of which Italy represented 2.8Mt. Ready-mixed concrete deliveries fell by 15.9 per cent to 9Mm³, but outside Italy, the reduction was a more modest 10.7 per cent to 5.3m m³. 

Mediterranean

Turnover from the Mediterranean and Black Sea regions was off by a marginal 0.1 per cent to €1008.7m, with Egypt being the one negative factor. Cement and clinker shipments were off by 4.5 per cent to 14.9Mt on the back of lower Egyptian sales. Aggregates volumes were boosted by a 7.1 per cent volume increase in Morocco and improved by 6.6 per cent overall to 1.8Mt. Ready-mixed concrete deliveries, where Egypt registered a 6.4 per cent increase, improved by 1.6 per cent to 2.3Mm³.

Asia

Asian turnover rose by 14.2 per cent to €520.9m, with cement deliveries being 8.8 per cent higher at 10.1Mt, boosted by good volume increases in Thailand and India that rose by 10.3 per cent and 9.7 per cent respectively. The Asian downstream activities remain modest in group terms and are dominated by Thailand. Aggregates shipments fell by 38 per cent to 0.2Mt, while ready-mixed concrete deliveries improved by 10 per cent to 0.8Mm³, in spite of Thailand, the leading contributor, only showing a 5.5 per cent advance.

North America

The North American turnover rose by a further 8.5 per cent to €439.5m, helped by a stronger US dollar. Cement deliveries were just 0.3 per cent higher at 4.2Mt, but ready-mixed concrete deliveries were 3.4 per cent higher at 0.8Mm³. Sales of aggregates showed the strongest advance and deliveries rose by 11.5 per cent to 1.6Mt, on top of the 40.7 per cent jump seen in the previous year.

Trading activities

The international trading activities saw turnover recover by 16.1 per cent to €213m, with the cement and clinker trading volume rising by 30.6 per cent to 3.6Mt.

The full 2012 results are set to be announced on the 5th of March after the market has closed.