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Displaying items by tag: Italy
Italcementi revenue fall slows in third quarter of 2013
13 November 2013Italy: Italcementi's revenue has dropped by 3.2% year-on-year to Euro1.06bn for the third quarter of 2013 from Euro1.10bn in the same period in 2012. However, earnings before income and taxes (EBIT) fell by 36% year-on-year to Euro108m for the third quarter of 2013 from Euro168m in 2012. The Italy-based multinational cement producer attributed the low revenue decline as a sign of slowing decline in Europe.
"Despite the stagnation in demand on the European markets, over the last four quarters, with the exception of March 2013, which was severely affected by the impact of bad weather on construction operations, the Italcementi Group has reported a positive trend in results for its industrial operations," said Giovanni Ferrario, Group Chief Operating Officer. He added that the group efficiency plan had helped the result despite the strong impact of the rise in energy prices in Egypt.
Sales of cement and clinker fell by 2.4% year-on-year in the third quarter of 2013 to 10.8Mt. By region sales fell in Europe, North Africa and the Middle East in the third quarter of 2013. Cement and clinker sales rose in North America and Asia. This trend was mirrored for the first nine months of 2013 also.
Buzzi Unicem sales down by 3.2% in first nine months of 2013
13 November 2013Italy: Buzzi Unicem has reported that its net sales have fallen by 3% year-on-year to Euro2.08bn for the first nine months in 2013. Cement sales volumes fared better with a 1.2% drop to 20.6Mt. For the third quarter of 2013 the Italy-based cement producer reported drops in sales volumes in Mexico, Italy and Eastern Europe.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 10% to Euro336m. Buzzi Unicem expects recurring operating results to fall by 5 – 10% for the whole of 2013 compared to 2012.
Italcementi markets products by performances under i.nova brand
25 September 2013Italy: Italcementi's Carlo Pesenti (CEO) and Giovanni Ferrario (COO) launched i.nova, Italcementi's new product offer system, on 19 September 2013. The entire product portfolio developed by the group, focused on the concept of differentiating products by performance, is now available on the market.
The group says that the customer is the hub of the i.nova system, which differs from the traditional commodity-based approach to cement supply. Its system is designed to simplify the purchasing process by organising products by structural codes.
Through i.nova it will be easier for customers to distinguish and select, for instance, the acoustic products that are grouped under the i.sound family, or the thermal products grouped under the i.clime family or again, the special products for water, grouped under the i.idro family. In addition, a distinct colour and graphic marking have been given to each performance 'family' so as to make visual recognition of the product quicker and easier in all the countries where the group operates.
"i.nova revolutionises Italcementi's marketing strategy and approach to sales, reconfirming the group's highly innovative positioning," explained Carlo Pesenti. "Despite operating in what is referred to as a traditional sector, the company places research, innovation and sustainability at the forefront of its industrial strategy, convinced that such values represent a fundamental lever for consolidating its competitive advantage in the building industry. In fact, i.nova is the evolution of the last 15 years of research, during which many unique innovative products have been developed, such as the photocatalytic cement and the transparent cement used for the Italian Pavilion in Shanghai."
CIFA celebrates 85 years of business
16 September 2013Italy: Construction equipment and machinery manufacturer CIFA celebrated its 85th year of business on 12 September 2013. In attendance at a ceremony held at the company headquarters in Senago were the company's senior management, the CEO of CIFA Davide Cipolla and the President of Zoomlion Zhan Chunxin.
Highlights of the celebration included the inauguration of a company museum and showroom and the publication of a history of the company entitled 'CIFA: The winning anomaly.' The company also inaugurated the TEC (Testing European Centre), a centre where experimental activities and tests are carried out on machine bodywork and components. Other on-going activities for the anniversary included an in-house design centre that was launched earlier in 2013 as part of the anniversary and a facelift of the company headquarters due for completion in the autumn of 2013.
Italy: Buzzi Unicem made a net loss of Euro26.6m in the first half of 2013, 44% higher than the Euro18.5m loss seen in the first half of 2012. It recorded a 25% fall in first-half core earnings for 2013, which it said were hit by lower sales volumes.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the six months fell to Euro150.7m from a restated Euro200.5m in the first half of 2012. Buzzi's net sales fell by 5.7% to Euro1.27bn. Buzzi's cement sales for the first half of 2013 were 12.3Mt, representing a 5.8% decrease compared to the first half of 2012 when it sold 13.1Mt.
The company said that the results for the first half of 2013 were below its own expectations and were caused by the extremely difficult economic situation in Italy, flat activity in Central Europe, the lack of clear signs of recovery in Eastern Europe and an unforeseen slowdown in Mexico.
Buzzi also said that it believed that there were grounds for a sizeable improvement of results in the second half of 2013, thanks especially to a volume recovery in Central Europe, acceleration of sales and prices in the United States and the attainment of an operating profitability closer to that of the previous year in Eastern Europe.
Based on the above considerations, for the full financial year 2013, Buzzi expects to report a recurring EBITDA that is 5 - 10% lower than that of 2012.
Italy: Italcementi has reported that its revenue fell by 6.2% to Euro2.16bn for the first half of 2013 from Euro2.30bn in the same period in 2012. The Italian-based cement producer commented that, despite the decrease in sales volumes, its revenue reduction was smaller (3.6%) in the second quarter of 2013.
"Our programme to contain fixed costs together with close control of variable costs enabled us to lower our breakeven point, slightly ahead of our targets, despite continuing difficulties in market conditions, especially in Italy," said Italcementi group chief operating officer Giovanni Ferrario.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 10.6% to Euro299m from Euro334m. The group posted a loss for the period of Euro43.3m compared with a profit of Euro1.3m in the first half of 2012, when gains of Euro8.6m were reported on the sale of its subsidiaries Afyon and Fuping. Net debt for the period was broadly unchanged for the period at Euro2bn.
Overall cement sales fell by 7.1% to 21.8Mt. By region, cement sales fell by 12.4% to 7.2Mt in Central Western Europe and by 11.7% to 6.9Mt in Emerging Europe, North Africa and Middle East. Cement sales rose by 1% to 2Mt in North America and by 5.3% in Asia. In the cement business, for the second quarter the group reported a significant reduction in the decline in Europe and Morocco, positive performance in North America and stability in sales in Asia. Sales volumes in Egypt were affected by difficulties in fuel procurement. A particular poor performance in Italy was singled out.
In its outlook, Italcementi speculated that its results in the second half of 2013 should be in line with the second half of 2012 due to market improvements in selected countries and the impact of cost cutting exercises, particularly in Italy and Spain. However, it warned that full-year profitability would be hit by the poor first quarter of 2013.
Colacem seeks expansion abroad
19 June 2013Italy: Colacem, Italy's third-largest cement producer, is increasingly relying on foreign markets, according to director general Giuseppe Colaiacovo, who was speaking at a news conference. Colaiacovo said that the company was looking to offset the 'dire' Italian market.
The company plans to boost its presence in the Caribbean, where it already has a plant in Santo Domingo, Dominican Republic and is looking at the potential oil markets of some African countries such as Nigeria, Mozambique and Angola.
Italcementi loss grows in Q1
08 May 2013Italy: Italcementi's loss for the first quarter of 2013 has grown to Euro58.5m from Euro34.4m in the same period in 2012. The Italian cement producer singled out poor weather in March 2013 and the absence of income from CO2 emission rights as contributing factors.
Group revenue fell by 9.3% to Euro0.96bn in the first quarter of 2013 from Euro1.03bn in the same period in 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 36.8% to Euro88.7m from Euro140m.
Revenue for the group's cement and clinker sector fell by 9.5% to Euro627m from Euro693m. Total cement and clinker sales volumes fell by 9.6% to 10Mt. By region, in central Western Europe sales volumes fell by 18.6% to 3Mt. In North America sales volumes fell by 3.9% to 0.7Mt. In the group's 'Emerging Europe, North Africa and Middle East' region sales volumes fell by 14.6% to 3.3Mt. In Asia sales volumes rose by 11.2% to 2.7Mt. Particular drops in revenue were noted in Italy (22.3%) and Spain (28.9%).
In its quarterly report Italcementi described how the group is coping with the fall in cement consumption in Italy from 46.5Mt in 2006 to 25.5Mt in 2012 with its 'Project 2015' programme that was announced in December 2012. During 2013 a number of continuous-cycle plants will continue to operate only as grinding centres. The group also placed the value of lost CO2 emission rights income - principally from Italy, France and Bulgaria – at Euro18m in 2012.
In its outlook Italcementi believes that its full-year recurring EBITDA will be substantially stable compared with 2012. The healthy trends on the Asian and North American markets together with the benefits arising from the on-going efficiency measures should counterbalance the effects of the reduction in demand expected on the European markets.
Italcementi shareholders elect new board
24 April 2013Italy: At their annual general meeting held in Bergamo, the shareholders of Italcementi SpA elected the Board of Directors for the next three years, until approval of the financial statements for 2015.
The members of the new Board are Pierfranco Barabani, Giorgio Bonomi, Fritz Burkard, Victoire de Margerie Federico Falck, Lorenzo Renato Guerini, Italo Lucchini, Emma Marcegaglia, Sebastiano Mazzoleni, Jean Paul Méric Carlo Pesenti, Giampiero Pesenti, Carlo Secchi, Elena Zambon (all elected from the majority list presented by Italmobiliare SpA) and Giulio Antonello (a candidate from the minority list presented by First Eagle Global Fund).
Italy: Italian cement producer Italcementi plans to stop production at three of its Italian cement plants, bringing the total of its dormant plants in the country to nine. Italcementi director general Giovanni Battista Ferrario made the announcement at a shareholders' meeting, blaming the move on overcapacity in the face of a huge slump in domestic demand
The company expects to save Euro110m through the closures as part of an efficiency drive. It posted losses of Euro362m in 2012, most of it due to poor Italian demand. Lay-offs for over a quarter of Italian staff were announced in December 2012. It said the Italian market "continues to be marked by productive over-capacity compared to a demand that has dropped to the levels last seen at the end of the 1970s."
Italcementi had 17 operational plants in 2012. It has since then sold one and halted production at five others. However, CEO Carlo Pesenti told the meeting that the company plans to invest up to Euro150m on upgrades at its Rezzato plant and has plans to develop its Calusco plant.