Buzzi Unicem has released some preliminary data relating to the year ended 31 December 2022. During the year, cement sales decreased by 9.2% to 28.3 million tonnes and ready-mix concrete sales by 5, 2% to 11.5 million cubic meters.
The last quarter of the year was characterized by generally weak volumes, but the favorable change in sales prices continued
The positive price effect more than offset the negative one due to the contraction in volumes, bringing the consolidated turnover for the year from 3,445.6 to 3,995.5 million euros (+16.0%, +9.6% at exchange rates and constant perimeter).
As regards the economic results, based on the preliminary information available, we expect that the consolidated financial statements for 2022 will close with a recurring EBITDA of approximately 880 million, better than that communicated at the beginning of November, of which 72 million due to the favorable exchange rate effect.
Compared to that forecast, the favorable changes concerned Italy, favored both by the tax credit dedicated to energy-intensive companies and by the price-cost effect on the valuation of inventories, and the United States, where the further rounding up of the prices of sales in the last quarter more than compensated for the drop in volumes.