Vicat posts 9M21 consolidated sales up 4% YoY
Vicat reported consolidated sales in the third quarter of 2021 of EUR794m, up 4.2 per cent YoY on a reported basis and up 19.7 percent at constant scope and exchange rates when compared with the 3Q20.
“This performance confirms the strength of the Group’s business trends in a quarter when the basis of comparison was highly unfavourable in France, the Americas and India. Last year, activity in the third quarter of 2020 was boosted by a catch-up in these regions after the pandemic had taken a heavy toll in the first six months of 2020. Against this backdrop, selling prices moved significantly higher in the third quarter of 2021, partly offsetting higher energy costs during the period,” said the company in a statement.
January-September 2021
The company also posted consolidated sales of EUR2354m in the nine months ended 30 September 2021, representing an increase of 19.7 per cent at constant scope and exchange rates when compared with the 9M20.
The increase on a reported basis reflects a negative currency effect of -4.9 per cent due to the appreciation of the euro against all other currencies to which the group has exposure, a small negative scope effect as a result of the sale of Créabéton in Switzerland (partly offset by a concrete and aggregates acquisition in France, and organic growth of 19.7 per cent. In addition, the hike in selling prices fully offset the impact of higher energy costs.
Sales in France increased by 15.5 per cent on a reported basis (+14.8 per cent at constant scope and exchange rates) to EUR824m, while in the rest of Europe sales in the 9M21 reached EUR301m, down 4.8 per cent on a reported basis but up 4.5 per cent at constant scope and exchange rates. In the Americas 9M sales increased by 6.2 and 14.6 per cent, respectively, to EUR500m. In Asia sales in the 9M21 increased to EUR320m, up 30.6 and 39 per cent, respectively while in Africa 9M21 sales rose by around 22.3 per cent YoY to EUR242m. In the Mediterranean sales reached EUR166m, up 36.3 and 64.2 per cent, respectively.
“Vicat’s performance in the nine months to 30 September reflects the dynamism of its markets amid the gradual recovery from the pandemic. The Group records solid growth when compared to the same period of 2020, but also compared to 2019 (+14.9 per cent at reported rates). Business trends in the third quarter held up at a strong level, with the Group’s sales posting another increase despite an unfavourable basis of comparison in France, the Americas and India. Against this backdrop, the Group continues to take financial and industrial measures to achieve its operational, environmental and social objectives,” said Vicat Chairman and CEO, Guy Sidos.
