Buzzi Unicem's net sales in the 1H20 increased 5.8 per cent, standing at EUR1608.7m versus EUR1520.1m in 1H20, while EBITDA improved by 12.3 per cent, advancing from EUR313.9m to EUR352.5m.
After amortisation and depreciation of EUR122.8m (EUR128.4m in the previous year), EBIT amounted to EUR229.7m (EUR185.5m in 1H20). The income statement for the 1H21 closed with a net profit of EUR209.7m, compared to EUR216.7m in the same period of 2020.
Cement sales of the group in the first six months of 2021 stood at 14.8Mt, up 10.9 per cent when compared to the same period of 2020. The positive development in sales volumes recorded in the first three months of the year continued in the second quarter. Changes were favourable in all the markets where the company operates, except for a limited decline in Poland and a more marginal one in Germany.
However, it should be remembered that sales in April-May last year were penalised by heavy economic restrictions aimed at containing the pandemic, above all in Italy and Benelux.
Ready-mix concrete output also increased, reaching 5.8Mm3, up seven per cent compared to the previous year. In this business, the positive development recorded in Italy, Poland and Ukraine more than offset the unfavourable changes in the USA, Germany and the Czech Republic.
Outlook
"Looking at the second half of the year, the most recent estimates indicate that economic growth should continue, supported by the stability of the industrial sector and by the recovery in the services sector," reported Buzzi Unicem. "However, some uncertainties remain on the macroeconomic framework about the future evolution of the pandemic, in particular regarding the spread of the new COVID-19 variants."
