Vicat Reports Strong Annual Results and Positive Outlook for 2024

Vicat Group announces a significant improvement in its annual results, with a net profit of 258 million euros and an EBITDA increase to 740 million euros, forecasting continued growth in 2024.

Vicat Reports Strong Annual Results and Positive Outlook for 2024
Photo: Vicat

Vicat, a leading global cement, concrete, and aggregates producer, has unveiled its annual results, showcasing a notable improvement across key financial metrics. The group reported a net profit of 258 million euros, marking a 65.6% increase in published terms. Additionally, Vicat's EBITDA rose to 740 million euros in 2023, up from 570 million euros, while its revenue reached 3.937 billion euros, an 8.1% increase in published terms. The organic growth of revenue stood at 19.6%, adjusted for scope and exchange rates.

Looking ahead to 2024, Vicat anticipates further revenue growth, driven by expansion in the United States, resilience in emerging markets, and despite the residential sector's weakness in Europe. The group expects its EBITDA in 2024 to surpass the 2023 figure. Industrial investments are projected to be around 325 million euros, including a shift in disbursements for the construction of a new kiln in Senegal to 2024. This investment strategy is expected to continue reducing the group's net debt through EBITDA growth, working capital control, and investment discipline.

Furthermore, Vicat's board of directors plans to propose a dividend of 2 euros per share at the general meeting on April 12. Specializing in the production and marketing of cement, ready-mix concrete, and aggregates, Vicat sold 27.1 million tons of cement and 10 million cubic meters of ready-mix concrete, along with 25.3 million tons of aggregates in 2022. The group operates globally, with a significant presence in France, Europe, the Americas, Asia, the Mediterranean, and Africa.

Source: Zonebourse