In Italy (21% of cement capacity), on a lfl basis, volumes sold have trended marginally down, while selling prices increased by a few percentage points. Overall, lfl sales registered a 2.2% decrease. The US (22% of cement capacity) was strongly affected by unprecedented rainfall according to Buzzi’s management, which was also mentioned by HeidelbergCement as one of the reasons for its profit warning. Following this earnings release, we expect little impact to our valuation and will keep
11 Nov 2018
9m 18: the US disappoints, Italy registered no improvement
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9m 18: the US disappoints, Italy registered no improvement
Buzzi Spa (BZU:WBO) | 0 0 1.6% | Mkt Cap: 4,003m
- Published:
11 Nov 2018 -
Author:
Felix Brunotte -
Pages:
3
In Italy (21% of cement capacity), on a lfl basis, volumes sold have trended marginally down, while selling prices increased by a few percentage points. Overall, lfl sales registered a 2.2% decrease. The US (22% of cement capacity) was strongly affected by unprecedented rainfall according to Buzzi’s management, which was also mentioned by HeidelbergCement as one of the reasons for its profit warning. Following this earnings release, we expect little impact to our valuation and will keep