Vicat net profit up nearly 60%

French cement, concrete and aggregates group Vicat posted a 59.4% increase in net income for the first half of 2018. Net income in H1 totalled €59million, compared with €40mn for H2 2017. Vicat says the solid performance was helped by growth in Turkey, the United States, France and Kazakhstan. Consolidated sales in H1 2018 totalled €1,281mn, up 2.7% on the same period of 2017. In H1 the cement business posted a 9.7% increase in operational sales at constant scope and exchange rates and a 1.3% increase on
August 8, 2018 Read time: 3 mins

French cement, concrete and aggregates group Vicat posted a 59.4% increase in net income for the first half of 2018.

Net income in H1 totalled €59million, compared with €40mn for H2 2017. Vicat says the solid performance was helped by growth in Turkey, the United States, France and Kazakhstan.

Consolidated sales in H1 2018 totalled €1,281mn, up 2.7% on the same period of 2017.

In H1 the cement business posted a 9.7% increase in operational sales at constant scope and exchange rates and a 1.3% increase on a reported basis. Operational sales in the concrete & aggregates business grew 5.4% at constant scope and exchange rates, whereas they were stable on a reported basis (-0.1%). Operational sales in the other products & services business rose by 12.5% at constant scope and exchange rates by 8.4% on a reported basis.

The cement business accounted for 51.2% of Vicat Group's operational sales in H1 2018 compared with 51.5% in the first half of 2017. There was also a slight decrease in the contribution from the concrete & aggregates business (33.7% versus 34.4% in the year-earlier period) and a higher contribution from other products & services to 15.0% (14.1% in H1 2017).

Guy Sidos, chairman and CEO of Vicat Group, said that in India the group benefited from the start of work on new infrastructure projects in a particularly competitive environment at the beginning of the year. In Switzerland, adverse weather conditions and the end of some large projects meant that performance decreased in H1.

He added: "The group’s business in Egypt was held back by military operations aimed at restoring security in the region where its production is based, that will allow the group to resume its progress in this market, where the medium-term outlook is very promising. On this basis, the Vicat Group expects to deliver improved performance in full-year 2018.”

Group EBITDA rose by 12.3% in H1 to €197mn. This was helped by a 63.1% jump in the US driven by solid growth in volumes and average selling prices in both cement and concrete.

There was also a 135.5% surge in EBITDA in Turkey, with weather conditions much more favourable than in the first half of 2017 and strong business momentum in the group’s client sectors.

France saw a 19.3% EBITDA increase resulting from a sharp improvement in the concrete & aggregates business, supported in particular by an upturn in concrete prices combined with solid EBITDA growth in the cement business.

Kazakhstan posted 45.4% EBITDA growth based on a significant increase in volumes and selling prices.

Detection, Monitoring & Machine Vision

Related Content

  • Jakarta to be ‘congestion-free by 2030’
    January 7, 2014
    In a bid to make the city congestion free by 2030, the Jakarta administration has pledged to make public transport the most used form of transportation in the city, and has allocated US$423 million in 2014 to develop the transportation system. Plans include seven transit-oriented developments (TOD) across the capital region, a total of 38 bus corridors and 17 park-and-ride centres, all of which will be integrated into a city-wide public transport grid. The park and ride centres will enable motorcyclists
    Read More
  • Report forecasts growth in global markets for intelligent transportation systems
    November 1, 2012
    A new report by information service provider Global Information says that intelligent transportation systems (ITS) improve public transport and traffic management to reduce traffic congestion, promote smoother and safer driving and improve coordinate and overall smarter use of transport networks. The development of intelligent infrastructures – from roads to bridges – is primarily a governmental responsibility while the domain of developing intelligent vehicles belongs to the commercial side. Both private a
    Read More
  • Continental says Ethernet is car networking technology of the future
    March 15, 2012
    International automotive supplier Continental has joined the OPEN Alliance SIG (One Pair Ether-Net Alliance Special Interest Group) which is dedicated to spreading the use of Ethernet networks as the standard solution for in-vehicle applications.
    Read More
  • Cost benefit: just $25 boosts pedestrian safety in Florida
    April 29, 2019
    A relatively straightforward change to the way that pedestrians cross the street in a Florida city has made a significant safety improvement. And what’s more, it was cheap, finds David Crawford Installing a lead pedestrian interval (LPI) system at 25 central business district signalised intersections in the Florida city of Lakeland has cut numbers of incidents involving pedestrians by some 60% - at a cost of US$25 for 30 minutes' work, according to traffic operations manager Angelo Rao.
    Read More

Highlighted Content