Buzzi Unicem records net sales of EUR3bn in 9M22
Buzzi Unicem reported consolidated net sales in the 9M22 of EUR3004m, up 18.2 per cent compared to EUR2542m in 9M21. Cement and clinker sales of the group, in the first nine months of 2022, reached 21.9Mt, down 6.2 per cent compared to the previous year. Ready-mix concrete sales closed with a more moderate slowdown at 8.8Mm3, a fall of 2.8 per cent. Foreign exchange rate variances positively contributed for EUR160.9 m.
Net debt improved from EUR16.8m at the end of 2021 to a positive position of EUR58.7m at 30 September 2022. During the period under review the company incurred capital expenditures of EUR168.8m (EUR151.7m in 2021), paid EUR123m for the purchase of treasury shares and EUR72.3m for dividends.
Regional results
In Italy net sales increased by 19.5 per cent, from EUR453.1m to EUR541.5m. Cement and ready-mix concrete sales declined sharply and selling prices for both businesses were increased in the 3Q22 but were unable to offset inflation and power costs.
US net sales reached EUR1191m, up 23.9 per cent compared to EUR961.5m achieved in the same period of 2021. Cement deliveries were affected by production problems at the Festus, Missouri plant, in September and logistic challenges from the Mississipi’s low water levels. Ready-mix deliveries were hampered by a shortage of drivers in the 3Q22.
Net sales in Germany improved to EUR607.7m up 14.8 per cent from EUR529.5m in the 9M21.In Luxembourg and The Netherlands cement deliveries and exports slowed marginally in the 3Q22 and net sales totalled EUR169.4m, up 14.9 per cent compared to the 9M21 (EUR147.5m).
Czech Republic net sales were helped by the Koruna and stood at EUR152m up 14.9 per cent compared to a year earlier. Polish net sales increased to EUR110.5mm from EUR93.2m despite the depreciation in the zloty.
Only the Volyn plant kept production going in the Ukraine while the Nikolyev plant has production suspended. Net sales totalled EUR47.5m, down 48.5 per cent from EUR92.3m in the same period last year.
Net sales in Russia, via the SLK Cement subsidiary, reached EUR215.5m, up 36.3 per cent versus EUR158.1m achieved in the same period of 2021.
Mexican net sales totalled EUR552.7m, up 10.4 per cent compared to EUR500.6m in the same period of 2021.
Meanwhile, Brazilian net sales totalled EUR186.7m, up by 59.6 per cent from EUR298m achieved in the same period of 2021.
