Buzzi Unicem SpA has reported a 7.5 per cent rise in cement sales volumes in the first nine months of 2021, increasing to 23.36Mt from 21.72Mt.
Consolidated net sales stood at EUR2541.7m (US$2938m), up 5.6 per cent against EUR2408m in the 9M20. The unfavourable variances in exchange rates had an impact of EUR85.2m. On a like-for-like basis, turnover would have increased by 9.1 per cent, according to the group.
During the summer quarter, the performance of demand was favorable especially in the United States and eastern Europe. However, signs of a slowdown appeared in Central Europe and Italy.
Outlook
Buzzi Unicem expects the current economic backdrop to impact on the results of the last quarter, which was not foreseeable until a few months ago. In conclusion, based on these considerations, the company’s most updated forecasts confirm that the recurring EBITDA for the financial year 2021 will probably not exceed the level of the previous year.
“Looking at the last quarter of the current year, we expect the activity level of the construction industry to generally remain lively and that the year will close with a favorable volume and price effect. However, what is causing growing concern is the simultaneous surge in the prices of energy, fuels, logistics, raw materials and services, which have reached extremely high levels in various regions,” said the company in a press release.
