Buzzi Unicem Group net sales rise 16% in 2022
Buzzi Unicem's group net sales rose to EUR3996m, up 16 per cent from EUR3446m in 2021. However, cement sales of 28.33Mt in 2022 marked a decline of 9.2 per cent from the 31.2Mt recorded in 2021. Ready-mix sales for the group also slipped to 11.51Mm3, down 5.2 per cent from 12.14Mm3 achieved in 2021.
Group EBITDA totalled EUR892m in 2022, up 11.2 per cent from the EUR795m achieved in 2021. Consolidated net profit fell 15.4 per cent to EUR459m in 2022, down from EUR542m in 2021.
Buzzi Unicem reported that cement sales saw a slowdown in deliveries, which has been already highlighted during the first half of the year, accentuated during the following quarters, particularly in Italy, eastern Europe and the US, where in addition to weaker demand in the residential sector, there were also some logistical problems along the Mississippi River. Meanwhile, in central Europe sales volumes showed some stability.
Meanwhile, ready-mixed concrete sales improved slightly in central Europe, while in eastern Europe, the US and Italy they showed a more evident contraction.
Regional cement results
Domestic cement consumption in Italy is estimated to have decreased by around eight per cent in 2022, with an increasing share represented by imports.
In the US cement sales contracted more than forecast during the fourth quarter. The generalised slowdown in cement demand, in addition to the logistical problems due to the low water level in the Mississippi River, which lasted until mid-November, influenced the dynamics of our shipments. Therefore, in the year as a whole cement volumes sold decreased by 4.5 per cent compared to 2021.
German hydraulic binders closed the year slightly up 2.7 per cent, despite some slowdown recorded both in the third and fourth quarters, due to higher weakness in demand and a harsher winter.
In Luxembourg and The Netherlands cement sales volumes closed slightly up on 2021 by 1.4 per cent. Polish cement declined by 10.4 per cent compared to 2021 and in the Czech Republic cement sales suffered lower volumes, down 5.4 per cent compared to 2021. Russian cement sales of the SLK Cement subsidiary fell 5.2 per cent compared to the previous year.
In Ukraine production is suspended at the Nikolayev plant in the south of the country, because of the conflict with Russia. Production continues at the Volyn cement plant in the northwest, but interruptions in power supply occurred during December 2022. Therefore, Ukraine cement sales fell 62.8 per cent in 2022.
Meanwhile, in Mexico sales in the joint venture declined by 5.8 per cent. In contrast the Brazilian joint venture sales closed 2022, up 10.5 per cent.
