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Feb 7 2019, 16:30 GMT
Buzzi Unicem
Preliminary FY results: EBITDA back in line with guidance, Q4 2018 shipments increase in all geographies
- Sectors : Building Materials
- Companies : Buzzi Unicem
DAVY VIEW
Buzzi’s US operations were one of the worst hit due to the record rainfall in Texas and the flooding of states surrounding the Mississippi river. The result was a 2-3% cut to the EBITDA guidance for the full year in November. The €570m figure is in line with our forecasts and represents a good end to the year, which bodes well for 2019. We remain positive on the stock given the potential for price increases in the US and steady growth in Europe.
