In 2022 Buzzi Unicem recorded a strong increase in consolidated turnover (+16.0% on an annual basis), even at constant exchange rates and perimeter (+9.6%). The positive price effect more than compensated for the generalized weakness of sales volumes.
The recurring EBITDA amounted to €892 million, up by 12.1% (+3.1% at constant exchange rates and perimeter) and the operating result at €495 million, compared to €545.6 million in 2021, penalized by the write-down of goodwill Russia.
EBITDA recorded a decrease compared to 2021, penalized by energy costs, with a net profit down by 15% to 459 million. However, the company expects a recovery in the second half of 2022.
The lower cash generated by operations (575 million compared to 752 million in 2021) was affected by the strong absorption of working capital, especially inventories.
An increase in the dividend to 45 cents per share (+12.5%) will be proposed to the shareholders’ meeting
Finally, the target of reducing specific CO2 emissions (-5% compared to 2017) and SBTi validation of the “Our Journey to Net Zero” roadmap were achieved.