At a meeting held on February 1, 2010 and chaired by Yves René Nanot, the Board of Directors of Ciments Français (Italcementi Group) examined consolidated revenues trend as of December 31, 2009.

In a declining international economic environment, Group sales volumes slackened in all three business lines during 2009, with Western Europe and North America still more significantly hit than emerging countries. Overall, the decrease was however less intense in the 4th quarter.

Volumes sold over the entire year dropped by 8.9% in cement (at 46.5 million tonnes), by 17.8% in aggregates (at 39.1 million tonnes) and by 21.5% in ready mix concrete (at 11.2 million cubic meters), on a comparable basis.

Consolidated revenues for 2009 totaled 4,215 million euros, down 11.7% on 2008 (-13.4% at comparable consolidation scope and exchange rates), despite a steady trend in sales prices. Higher revenues in Egypt, Morocco and China failed to offset the decline in the other countries, particularly significant in Western Europe and North America.

During the 4th quarter, Group sales volumes were down in all three business lines compared with 2008. However, this decrease was not as strong as those reported in the first 3 quarters of 2009. Cement sales improved in the emerging countries, with the exception of Bulgaria and Turkey.

Revenues for the 4th quarter fell down to 979 million euros, i.e. -13.9% as against the same period in 2008. Revenues for Egypt, Morocco and China increased.

Results for 2009

The Group confirms the expected decrease in 2009 operating result as against 2008, in line with the results of the first nine-month period.
Efficient management, particularly in terms of working capital, enabled a significant decrease in net financial debt at 2009 year-end. 

The results of Ciments Français for the year 2009 will be examined and approved by the Board of Directors of March 3, 2010.