France: Vicat’s earnings rose in the first half of 2018 due to good performance in the US, Turkey, France and Kazakhstan. Its earnings before interest and taxation (EBIT) increased by 21.3% year-on-year to Euro104m from Euro86m. Its sales revenue rose by 2.7% to Euro1.28bn from Euro1.25bn. The company’s cement production increased by 5.3% to 11.4Mt from 10.8Mt.

“Excluding currency movements, which have a particularly large negative impact this year, the croup achieved notable progress in Turkey, the US, France and Kazakhstan,” said the group’s chairman and chief executive officer (CEO) Guy Sidos. He added that the group also benefitted from the start of work on new infrastructure projects in India.

However, the group reported a 21.9% fall in earnings before interest, taxation, depreciation and amortisation (EBITDA) to Euro22.7m in India due to falling prices and mounting energy costs. In West Africa EBITDA declined by 14.5% to Euro22.2m due to falling prices and rising production costs. In Europe EBITDA fell by 16.9% to Euro35m due to contacting sales in Switzerland as well as issues Italy. Finally, EBITDA fell to a loss of Euro3.9m in Egypt due to falling sales in the wake of military intervention in the Sinai region.