|
contents | business | |||||||||
| Ciments Francais examines results for 1Q 2007 The board of directors of Ciments Français (Italcementi Group) examined and approved the quarterly results at March 31, 2007. During the first three months, Ciments Français reported a significant increase in sales volumes in all lines business segments compared with the first quarter of 2006. Cement sales volumes increased by 9% (or 4.8% at constant size) to 11.9 million tonnes; aggregates rose to 12.6 million tonnes, a 13.2% improvement (11.6% at constant size); ready mixed concrete sales volumes climbed 19.8% (12.7% at constant size) to 3.2 million cubic meters. The increase in the group's sales volumes and prices, mainly in the cement segment, generated a 12.3% improvement in revenues, at constant size, to 1,058 million euros. The consolidation effect (full consolidation of the Indian companies and acquisitions in the ready mixed concrete sector in Egypt at the end of 2006) offset in full the negative exchange-rate effect. Recurring gross operating profit, at 235 million euros, gained 4.8%, with significant contributions from the France-Belgium area, and, to a lesser extent, from the emerging countries (notably Turkey, Bulgaria, Morocco and India), with the latter reporting particularly strong growth rates. Operating profit increased by 3.5% to 153 million euros, while net profit progressed by 4.1% to 88 million euros. Group net profit, benefiting from the improved performance of the companies in which the group holds a particularly large stake, amounted to 65 million euros (+7%). The overall trend in the construction segment remained favorable in the first quarter despite the slowdown in the residential sector in the United States. Such a downturn may likely be offset by the dynamism of both the public works and non-residential sectors. Demand in the construction business, while remaining positive, could slow down in Ciments Francais' other industrialized countries during the year. Conversely, the construction segment should continue to grow strongly in the emerging countries, with the exception of Thailand. write your comments about the article :: © 2007 Construction News :: home page |