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Significant facts and figures
Consolidated turnover for the year 2010 was €2,014 million, representing a growth of 6.2%, and 0.3% at constant exchange rates compared to 2009.
The 2010 sales breakdown between the different segments of the Group again showed an increase in cement business activities, which now account for 51.3% of consolidated sales compared to 50.1% on December 31, 2009. The Concrete and Aggregate business segments reached 35.6% of consolidated sales compared to 36.7% as of December 31, 2009. The Other Products and Services business segment was 13.1% of consolidated sales on December 31, 2010 compared to 13.2% on December 31, 2009.
Vicat’s business activity decreased slightly in France (-1.5%) and in the rest of Europe (-4,6%); it also showed a marked decrease in the United States (-14,3%). However, trends showed an improvement during the year. Business was dynamic in Turkey, India and Kazakhstan (+23,2%) and there was solid growth in Africa and the Middle East (+5,5%).
The Group’s level of operating profitability (EBITDA margin) showed a slight improvement compared to 2009 and was essentially supported by:
- The combined effects of the Performance 2010 Plan with a marked improvement in the performance of the Group’s industrial tools and equipment, along with the cessation of external purchases of clinker, as well as by the Performance Plus complementary plan, of which the benefits of cost savings were preserved.
- A positive volume effect related to the Group’s dynamism in emerging countries and the progressive improvement of the environment in developed countries during the second half of 2010,
- A significant non-recurring item in the first quarter in Egypt: an amount of €18 million which corresponds to the retroactive revision of the taxable ton amount on cement.
These factors helped offset the following:
- a negative price effect due to competitive pressures in the U.S., Italy and, to a lesser extent in France, combined with an unfavorable geographical mix related to export sales and to distant destinations in West Africa, France and Switzerland
- the impact resulting from the start of the construction of Bharathi Cement Plant in India at this stage generated margin levels significantly lower than those of the Group.
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Registration Document 2010
Le présent document de référence contient des indications sur les perspectives et axes de développement du Groupe. Ces informations ne sont pas des données historiques et... -
Annual Report 2010
The drop in business in some ‘mature’ countries was off set by development in emerging countries. Implementation in 2006 of the Performance 2010 plan applied... -
Annual Financial Statement 2011
Full year 2011 results: solid performance in a mixed environment.