Vicat sees weak volumes in Europe & Turkey
Vicat's first quarter turnover emerged 0.1 per cent ahead at EUR537m, which represents an underlying decline of eight per cent. The cement turnover improved by 5.9 per cent to EUR341m, as cement shipments declined by 7.7 per cent to 4.25Mt.
The turnover in concrete and aggregates was 5.2 per cent lower at EUR189m as aggregates shipments declined by 18.7 per cent to 4.19Mt and ready-mixed concrete deliveries came off by 9.1 per cent to 1.72Mm³. Other products and services generated a turnover 11.1 per cent lower at EUR80m, and at the consolidated level there was an 8.4 per cent decline to EUR62m. Net debt ratio declined from 54 per cent to 44 per cent of shareholders' funds.
French turnover declined by 15 per cent to EUR168m, as weather conditions were less favourable than in the previous year. Turnover in cement declined by 14.1 per cent, or by 11.8 per cent on a consolidated basis and volumes fell by over 11 per cent. Concrete and aggregates turnover declined by 21.3 per cent, with aggregates shipments falling by more than a quarter and ready-mixed concrete deliveries being off by more 18 per cent ahead. Other products and services saw turnover decline by 3.9 per cent.
Elsewhere in Europe, turnover declined by 10.8 per cent to EUR80m. The Swiss turnover declined by 21 per cent at constant parameters. Underlying cement sales declined by 13.8 per cent, as cement volumes declined by more than 11 per cent and prices were slightly lower. Turnover aggregates and ready-mixed concrete fell back by 22.4 per cent with volumes falling back by 27 per cent in aggregates and by 22 per cent in ready-mixed concrete. The precast concrete turnover retreated by 27.2 per cent. The Italian turnover fell by 28.4 per cent as volumes declined by 24 per cent, with prices more or less stable in the domestic market but declining for export shipments.
In the United States, turnover improved by 43 per cent to EUR73m, though allowing for exchange rate and other adjustment to parameters, the underlying increase was 17.7 per cent. The underlying cement turnover rose by 27.6 per cent as volumes advanced by some 13 per cent. Volumes rose by 22 per cent in the south-east and by more than six per cent in California. Prices were ahead both in the southeast and in California. In ready-mixed concrete, turnover improved by 15.3 per cent on volumes that rose by almost 13 per cent higher. The prices achieved were ahead, more so in California than in southeast.
Turnover in Turkey, India and Kazakhstan increased by 17.6 per cent to EUR118m. The Turkish turnover showed an underlying decline of 16.8 per cent to EUR40.4m. The cement turnover declined by 18.5 per cent and because of unfavourable climatic conditions, cement shipments declined by more than 22 per cent, while prices improved notably in the Bastas area. The turnover in aggregates and concrete declined by 12.5 per cent. Because of the climatic conditions, volumes fell by more than 18 per cent in aggregates and by almost 11 per cent in ready-mixed concrete. Indian turnover improved by an underlying 21.5 per cent to EUR69m. Volumes fell by almost eight per cent but prices were improved compared with a year ago. In Kazakhstan, turnover declined by 14.3 per cent to EUR8.7m and the price retreated by almost six per cent.
Africa and the Middle East increased turnover by 0.2 per cent, to EUR98m. Egyptian turnover increased by 0.2 per cent to EUR30m as lower volumes were compensated for by higher average selling prices. Two new coal crushers are in the process of being installed and should up and running by August. In West Africa, turnover declined by 6.6 per cent and volumes were slightly lower in Sénégal, but down more in Mail and in Mauritania, with the global volume being off by around three per cent.
