Vicat Group reported stable sales, up +0.2% like-for-like, with EBITDA down -2.0% and consolidated net income up +6.3%. Cash flow improved, leading to a €190 million reduction in net debt. The Group adjusted its 2025 EBITDA guidance to reflect currency effects, targeting growth of +2% to +5% like-for-like. Geographic performance varied, with the United States facing a slowdown while emerging markets showed strength.
The first half of 2025 saw Vicat Group’s consolidated sales edge up by +0.2% at constant scope and exchange rates, though down -2.7% on a reported basis due to negative currency effects. The Cement business remained resilient, with prices holding steady across most geographies. Concrete & Aggregates saw a decline in concrete volumes but an increase in aggregates volumes, with significant pricing increases in Brazil. Other Products & Services reported an increase in consolidated sales.
In terms of financials, EBITDA declined by -6.3%, with a negative volume effect and a favorable price/cost differential. Recurring EBIT also declined by -4.4%. Energy costs were -1.0% lower, and industrial performance in the Cement business improved. Despite challenges, consolidated net income rose by +6.3% at constant scope and exchange rates. Net income, Group share also saw an increase of +3.1%.
By geography, France and Europe saw mixed performance, with declines in sales and EBITDA. The Americas faced challenges, with a business slowdown in the United States offsetting growth in Brazil. Asian markets, particularly India, showed signs of improvement. The Mediterranean region performed well, with Egypt and Turkey showing positive momentum. Africa faced some challenges, with Mali and Mauritania showing declines.
Investment and cash flow were strong, with free cash flow increasing to €44 million. The balance sheet showed a reduction in net debt, in line with the 2025 target. Climate performance improved, with a reduction in specific emissions and an increase in the use of alternative fuels. The Group also announced key acquisitions and agreements to drive growth in specific regions.
Looking ahead to 2025, Vicat adjusted its outlook due to macroeconomic and geopolitical uncertainties. The Group aims for sales growth of +2% to +5% on a like-for-like basis, a growth of +2% to +5% in EBITDA, and a financial leverage ratio of 1.3x by year-end. The Group is focused on achieving its debt reduction targets while maintaining operating profitability over the coming years.
Overall, Vicat Group’s first-half performance reflects a mixed but resilient business model, with a focus on strategic growth, debt reduction, and operational efficiency.
Read more at GlobeNewswire: Vicat – H1 2025 Results