Italcementi results show strong growth in North America

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Updated Tue, 10 Feb 2015 17:28:50 GMT

Italcementi has reported its 4Q14 and full year results. In the fourth quarter, revenue increased 2.3% to €1039.9 million as cement sales saw a 2.7% increase. In particular, North America reported significant growth at 21%, but businesses in Asia, Spain and Greece also performed well. Aggregates experienced a downturn of 3.5% to 7.5 million t, due to reduced demand in France, Spain and Morocco, which was partially offset by growth in Italy, North America and Greece. Ready-mixed concrete also saw a decline due to falling sales in Central Western Europe, but this was partially offset by growth in North America, Emerging Europe, North Africa and Middle East.

The annual results show growth in cement sales worldwide with the exception of Central Western Europe, where the slowdown was less apparent than in 2013 at -0.7% compared to -9.3%. Group annual consolidated revenue amounted to €4155.6 million, down 1.8% y/y. Net of the exchange rate effect, the decrease was 0.7%. Cement and clinker sales volumes were up 0.6% y/y to 43.4 million t. Innovative products contributed 6.5% to total turnover, an increase of approximately 20% from 2013.