Displaying items by tag: Italy

Italy: Good performance in the US has helped Buzzi Unicem hold sales steady in the first half of 2020 despite falling sales volumes of cement, particularly in Italy and Eastern Europe, as the coronavirus pandemic spread. The group’s net sales remained stable at Euro1.52bn. Its cement sales volumes fell by 3.4% year-on-year to 13.4Mt from 13.9Mt in the same period in 2019. Concrete sales volumes decreased by 6.3% to 5.46Mm³ from 5.83Mm³. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 8.8% to Euro314m from Euro289m. The company said that the decline in sales volumes was counteracted by growing prices and lowered production costs.

In its outlook the group said, “The outlines of the pandemic, which in some countries has not yet reached the phase of controlled circulation, as well as the intensity of global recession and the demand for building materials may be characterized by further sudden developments in the coming months. Visibility for the second half of the year continues to be very limited and our forecasts are based on a scenario of gradual mitigation of the infections and related restrictions on economic activity, in the geographical areas where the group operates.” It added that it expected its recurring EBTIDA to possibly fall by 5 – 10% year-on-year in 2020.

Italy: Italcementi and Calcestruzzi have supplied specialists and products, including 67,000m³ of concrete, for the Genoa-San Giorgio Bridge. The new structure has been built to replace the Morandi Bridge that collapsed in mid-2018. Products from the integrated Calusco d'Adda cement plant, the Novi Ligure grinding plant and Calcestruzzi’s concrete plants in Genoa supported the project.

France: Falls in sales in India, France and Italy since the end of the first quarter of 2020 have negatively affected Vicat’s half year results. However, it noted a rebound at the end of the period, particularly in France, and reported earnings growth in the US and Brazil. Its consolidated sales fell by 2.7% year-on-year to Euro1.30bn in the first half of 2020 from Euro1.34bn in the same period in 2019. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 6.7% to Euro213mm.

“We kept our production activities running at almost all our sites to keep pace with market trends and seize any commercial opportunities by remaining close to our customers, which has helped to mitigate the impact of the crisis,” said Guy Sidos, the group’s chairman and chief executive officer (CEO). He added that, “In this unprecedented environment, visibility on our full-year performance remains limited.”

Italy: Caltagirone Group subsidiary Cementir has recorded first-half revenues of Euro570m in the first half of 2020, down by 3.6% year-on-year from Euro591.9m in the first half of 2019. Net profit was Euro21.9m, down by 27% from Euro29.9m. The company sold 4.6Mt of cement, up by 6.3% from 4.3Mt, which it said was “mainly attributable to good performance in Turkey.”

Operating costs fell by 3.9% to Euro475m from Euro494m, which the company attributed to “cost containment measures implemented to deal with the impact of the pandemic.” The company said that, in spite of the contraction during lockdown periods in various markets, it was generally able to offset this with “a significant recovery in sales,” as in China, where increased infrastructure investments raised demand above pre-coronavirus outbreak levels following the return to cement production on 27 March 2020. The company reduced its debt by 30% to Euro281m from Euro399.

Cementir said, “With the current industrial perimeter, we expect to reach full-year consolidated revenues of approximately Euro1.2bn in 2020. Net financial debt is expected to be around Euro180m, including capital expenditure of around Euro60m. No substantial changes in the workforce are expected.”

Tunisia: Carthage Cement has announced the successful shipment of 4100t of cement from its 2Mt/yr integrated Jebel Ressas plant in Ben Arous Governorate. The shipment was postponed from March 2020 due to the coronavirus lockdown in Italy and Tunisia and is to be the first of a number of shipments of a total of 250,000t of Ordinary Portland Cement (OPC), in accordance with Carthage Cement’s contract with a local construction firm.

Italy: HeidelbergCement subsidiary Italcementi’s Chiaravagna concrete plant in Genoa, Liguria has received international sustainability certification from the Concrete Sustainability Council (CSC). The certificate, rating silver, acknowledges responsibly-sourced concrete across five categories: pre-requisites, management, environmental sustainability, social sustainability and economic sustainability. It aims to validate the entire process chain, from transportation to the recycling of raw materials.

The plant uses CEM-III ground granulated blast furnace slag (GGBFS) cement from Italcementi’s Novi Ligure grinding plant in Alessandria, made from clinker from the company’s Calusco d’Adda plant in Bergamo. The cement has specific CO₂ emissions of 500kg/t. It is supplying concrete for the reconstruction of the Morandi Bridge that collapsed in 2018.

Italcementi said, “This result adds to those already achieved by Italcementi and Calcestruzzi in terms of sustainability, such as the new range of Eco.build green concretes capable of meeting the requirements of green procurement, and the availability of the environmental product declaration (EPD) for different types of cement and concrete.”

France: Vicat has reported first-quarter sales of Euro615m in 2020, up by 7% year-on-year from Euro600m in the first quarter of 2019. Cement sales grew by 5.5% to Euro319m (52% of total sales), up by 5.5% year-on-year from Euro302m.

Vicat chair and CEO Guy Sidos said, “The Group's performance over the first quarter of 2020 was solid despite a sharp slowdown at the end of the period in France, India and Italy.” In spite of the coronavirus crisis, “Industrial and commercial activity was maintained on almost all sites, in line with market evolutions.” Sidos says that the group expects ‘a significant impact on first-half results’ in 2020.

Slovenia: Salonit Anhovo suspended production from 20 April 2020 to 4 May 2020. SeeNews has reported the reason for the suspension as a lack of demand from its usual Italian and Slovenian markets amid the ongoing coronavirus crisis. Salonit Anhovo management board member Dejan Zwitter said, "We expect domestic sales to stabilise as the government is providing incentives for construction activities."

The company will continue to serve its customers with deliveries of it products.

Hungary: Italy-based Entsorga has completed the installation of an automated alternative fuel (AF) line at a Hungarian cement plant.The upgrade consists of an Entsorga Spider crane and Pelican power system which will be able to maintain a continuous feed to the plant’s calcination system 24 hours a day.

Entsorga CEO Francesco Galanzino said, “Bringing a commission to a successful conclusion in the middle of the maximum intensity period of the coronavirus crisis has been a great satisfaction. The cement plant will make significant savings in CO₂ emissions.”

Italy/The Netherlands: Cementir Holding has appointed the board of directors for the period 2020 - 2022 made up of nine members: Francesco Caltagirone as executive director, with Azzurra Caltagirone, Alessandro Caltagirone, Edoardo Caltagirone, Saverio Caltagirone, Fabio Corsico, Paolo Di Benedetto, Veronica De Romanis and Chiara Mancini, all acting as non-executive directors.

As the holding company is based in the Netherlands, directors Paolo Di Benedetto, Veronica De Romanis and Chiara Mancini have declared that they meet the independence requirements pursuant to the Dutch Self-Discipline Code. The meeting also appointed PricewaterhouseCoopers Accountants NV as auditor for the years 2021 - 2030. Cementir Holding reported a net profit attributable to shareholders of Euro83.7m for 2019.