Buzzi Unicem posts 16% rise in consolidated net sales in FY22

Buzzi Unicem reports consolidated net sales at EUR3996m in FY22, up 16 per cent from EUR3446m in FY2021, also on LfL basis a rise of 9.6 per cent. Cement sales in Brazil and Russia helped the multinationals improved performance. 

Cement sales of the group amounted to 28.3Mt, decreasing by 9.2 per cent compared to 31.2Mt in 2021. Ready-mix concrete output, equal to 11.5Mm³, was also down compared to the 12.1Mm3 volumes of last year (-5.2 per cent). The positive price effect more than offset the negative one due to the contraction in volumes, leading consolidated net sales for the financial year to increase from EUR3445.6m to EUR3995.5m. The dollar, had an overall favourable impact of EUR219.5m.

Italian sales reached EUR726.m up 20.1 per cent on FY21 and US sales also rose to EUR1591.8m from EUR1329.6m in 2021, up 19.7 per cent. However, US cement showed a contraction in the 3Q22 and 4Q22 with cement demand falling and the low water levels in the Mississippi River affecting shipments. 

The biggest rise in regional sales were in Russia where they totalled EUR290.4m compared to EUR207.4m in 2021, a rise of 40 per cent. However, in Ukraine sales fell to EUR59.78m from EUR127m in FY21, a decline of 50.4 per cent.

Germany sales climbed to EUR798.8m in FY22, up from EUR708.1m in FY21, a rise of 12.8 per cent. Similarly sales in Luxembourg and The Netherlands rose too EUR226.9m from EUR201.1m in FY21, a gain of 12.8 per cent. Czech and Slovakian sales saw slightly larger gains to EUR201.2m from EUR177.5m in FY21, up 13.4 per cent.  In Poland sales totalled EUR141.3m in FY22, up from EUR126.4m in FY21, a rise of 11.8 per cent.

Outside Europe, sales in Mexico reached EUR78.5m up from EUR661.6m in FY21, or up 16.2 per cent. Brazilian sales were even stronger reaching EUR400.2m up from EUR253.4m in FY21, a rise of 57.9 per cent.

For 2022, recurring EBITDA is forecast at EUR880m.