Sales drops in India, France & Italy affect Vicat's first half results

Sales drops in India, France & Italy affect Vicat's first half results

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 per cent year-on-year to Euro 1.30 billion in the first half of 2020 from Euro1.34 billion in the same period in 2019. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 6.7 per cent to Euro213 mm.

"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."

Related Stories

Indian Cement Review
indiancementreview.com