Italy: Cementir’s sales rose by 25% year-on-year to Euro1.29bn in 2017 from Euro1.03bn in 2016. The results benefited from Cementir’s acquisition of CCB Group and Cementir Sacci in 2016. Cementir subsequently agreed to sell Cementir Italia, including Cementir Sacci, to HeidelbergCement in late 2017.
Cementir’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 11.5% to Euro221m from Euro198m. Its total cement sales volumes rose by 26.6% to 12.8Mt from 10.1Mt. Sales volume increases were attributed to a change in the scope of consolidation in Belgium and Italy and ‘good’ performance in Denmark, Turkey, Egypt and Malaysia.
The Italian cement producer also announced with its financial results that it will expand its presence in the US by acquiring an additional 38.75% stake of Lehigh White Cement Company from HeidelbergCement, giving it a majority of 63%.