Vicat Sa Announces Consolidated Sales Results for the Third Quarter and First Nine Months of 2017; Provides Financial Guidance for the Full Year 2017
For the nine months, the company reported total sales of 1,921 million against 1,867 million for the same period of last year. The sales increase was plus 4% at constant exchange rates, with growth coming from all geographical regions except the Africa and Middle East region.
On this basis, and for 2017 as a whole, the Group expects further improvements in its performance, capitalizing on continued growth in the United States, France and India, and a return to growth in Europe and Kazakhstan. These elements should offset the expected increase in energy costs and the sharp decline in profitability in Egypt. As a result, on a reported basis, EBITDA is expected to record a very small increase in 2017, subject to exchange rate trends, the evolution of the situation in Egypt, and weather conditions over the remainder of the year. Against this backdrop, the Group should be able to confirm in 2017 a continued reduction in its level of debt.