Lfl EBITDA would have been -13.6% in the US. In view of the fact that cement prices are about $110/t, we believe that from 2018 onwards there will be no more upside on US prices. The US accounted for 72% of the group’s EBITDA in 2017 and had the highest EBITDA margin of all divisions. Moreover, Mexico accounted for 25% of the consolidated net profit, so that North America accounts for almost 100% of the net profit.
07 Aug 2018
H1 18: disappointing performance, still too highly dependent on North America
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H1 18: disappointing performance, still too highly dependent on North America
Buzzi Spa (BZU:WBO) | 0 0 1.6% | Mkt Cap: 4,003m
- Published:
07 Aug 2018 -
Author:
Felix Brunotte -
Pages:
4
Lfl EBITDA would have been -13.6% in the US. In view of the fact that cement prices are about $110/t, we believe that from 2018 onwards there will be no more upside on US prices. The US accounted for 72% of the group’s EBITDA in 2017 and had the highest EBITDA margin of all divisions. Moreover, Mexico accounted for 25% of the consolidated net profit, so that North America accounts for almost 100% of the net profit.