Vicat : A challenging H1 but the guidance is not called into question
>EBITDA 12% below our forecast - H1 EBITDA came in at € 268m (-10.4% reported and -9.8% l-f-l), 11.6% below our forecast of € 303m. The fall in EBITDA in H1 is mainly attributable to higher fuel costs which the group has not yet fully passed on to end-clients. The group had already reported a fall in EBITDA of 7.3% in H2 2021 after an increase of 41% in H1 2021. Relative to our estimates (cf. page 2), EBITDA by region was higher than expected in the Europe (excl. Fran...Vicat specializes in the production and marketing of cement, ready-mixed concrete and aggregates. Co. is also engaged in other activities which are: transport brokering (transporting materials and merchandise to large work sites) and contract work, production of prefabricated concrete products, fabrication of building products and paper. Co.'s business is divided into four segments: Cement, Ready-Mixed Concrete, Aggregates and Other Products and Services. Co.'s activities are conducted in eleven countries across Europe, North America Asia, Africa and the Middle East such as: France, U.S.A., Italy, Switzerland, Turkey, Egypt, Senegal, Mali, Mauritania, Kazakhstan and India.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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