France: Vicat says it offset rising energy costs by raising its prices in 2021. It reported growth in most places as markets recovered from the start of the Covid-19 pandemic in 2020. It also noted a particular improvement in Egypt as government-mandated changes came into force in July 2021. The group’s consolidated sales rose by 11.3% year-on-year to Euro3.12bn in 2021 from Euro2.81bn in 2020. Cement and concrete volumes increased by 12.4% to 28.1Mt and 12.5% to 10.5Mm3 respectively. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 11.1% to Euro619m from Euro557m.
“Conditions in our markets remained dynamic, supported by favourable pricing trends in a context of sustained demand. This offsets the sharp rise in energy costs and wage increases,” said Vicat group chairman Guy Sidos.