Buzzi Unicem's turnover for the first nine months of 2019 was up by 13.4 per cent to EUR2423.6m, but ignoring exchange rate movements the increase would have been 9.9 per cent. Net debt at the end of September was EUR13.3m lower than a year earlier at EUR710.1m. Capital investment in the period was 19.2 per cent higher at EUR260.8m.  Cement deliveries were 5.7 per cent higher at 22.13Mt, while ready-mixed concrete deliveries advanced by just 0.4 per cent to 9.1Mm³.

The Italian turnover was helped by the inclusion of the Testi cement works near Florence and two grinding units in Piedmont for three months. Cement volumes and prices improved, while ready-mixed concrete volumes were stable, but prices advanced. The turnover increased by 10.9 per cent to EUR382.5m. Without the acquisitions, the increase would have been 9.4 per cent. 

Turnover in Germany improved by 9.8 per cent to EUR511.2m, helped by the acquisition of Seibel & Sohne and particularly-favourable weather conditions. On a like-for-like basis the increase would have been eight per cent.

Turnover in Luxembourg and The Netherlands declined by 1.3 per cent to EUR143.2m. Cement and clinker shipments were slightly lower, but prices were better. Ready-mixed concrete deliveries were lower, while prices improved.  

The Polish turnover was 11.3 per cent higher at EUR94.8m, with a slight negative exchange rate effect. Cement shipments were little changed while ready-mixed concrete deliveries were weak, but prices improved.

The Czech cement volume was slightly lower, but prices did improve somewhat. Ready-mixed concrete volumes in the Czech Republic and Slovakia were weaker, but prices showed an improvement. Turnover was little changed at EUR123.1m from EUR123.4m in the year-ago period.

Ukrainian cement shipments recovered strongly and local prices rose in the high inflation environment. The ready-mixed concrete volume was weak, but prices rose. The turnover rose by 54.8 per cent to EUR98.5m. 

In Russia the distribution network was expanded and overall cement volumes were ahead. The average unit price in local currency confirmed a favourable. The turnover improved by 16 per cent to EUR167.9m.   

The United States turnover rose by 17.4 per cent to EUR928.7m as a result of the strengthening dollar. At constant exchange rates the increase would have been 10.5 per cent. Cement deliveries showed a good recovery and prices were better. Ready-mixed concrete volumes, which are mainly sold in Texas, showed a strong recovery and prices were better.  

The 50 per cent-controlled Mexican associate Corporación Moctezuma registered a six per cent decline in turnover to EUR450.8m. Cement shipments in the nine months were weak as were prices as were ready-mixed concrete deliveries.

The Brazilian associate BCPAR generated a turnover of EUR99.9m compared with EUR100.8m in the previous year.

Published under Cement News