Ciments Français see 7.9% drop in 2012 Q1 revenue
First publishedin Aggregates Business Europe on www.AggBusiness.com
Falling sales in France, Belgium, Spain, Greece and Egypt led to Ciments Français recording a 7.9% drop in consolidated revenues to US$1.17billion (€892.3million) in the first quarter of 2012.
By business segment, cement and clinker revenue fell 4.6% to $844.4million (€641.90million), and aggregates and ready mix concrete revenue fell 7.2% to $316.63million (€240.70million). A company cost reduction programme could not offset the volume effect, with sales down 3.9% for cement and clinker; down 16.3% for aggregates; and down 10.6% for ready mix concrete.
Owing to investments in Bulgaria and India, the Italcementi subsidiary expects a slight increase in its financial debt for 2012. In spite of the first quarter drop, the French company believes its full-year operating results will be in line with those of 2011.