Groupe Vicat Achieves a Record-Breaking Year in 2023
Groupe Vicat, the Isère-based cement company, reported a record-breaking performance in 2023 with nearly 4 billion euros in revenue, highlighting a year of unprecedented growth.
Groupe Vicat celebrated a landmark year in 2023, registering a revenue of 3.937 billion euros, which translates to an 8.1% increase from the previous year. Guy Sidos, the CEO of Vicat, anticipates continued growth in 2024 despite a slowdown in Europe. In France, the company's revenue stood at 1.211 billion euros, marking a 2.8% increase from 2022. This growth rate was notably more modest compared to Vicat's performance in international markets. The company observed a reduction in the volume of cement, concrete, and aggregates in the French market, attributed to a deceleration in the residential sector.
"The year 2023 validates the effectiveness of Groupe Vicat's development model," stated Guy Sidos, CEO. "The group has achieved its best operational results since its inception, primarily driven by the performance boost in Ragland, USA, and commercial and industrial efficiency across our markets. However, the group has yet to return to its pre-crisis margin levels. Despite the expected slowdown in Europe, Vicat is set to continue its growth trajectory in 2024."
Looking ahead to 2024, Vicat is focusing on three key priorities: continuing its debt reduction efforts, returning to pre-crisis margin levels, and advancing its decarbonization strategy. A notable initiative, "From Low Carbon to Zero Carbon," is set to launch, exploring two carbon capture projects for storage or utilization in France and the USA, underscoring Vicat's commitment to sustainable practices in the face of growing environmental concerns.
