Italy's Buzzi posts sales fall, keeps optimistic outlook

Buzzi SpA

02/08/2024 12:57

Aug 2 (Reuters) - Italian construction group Buzzi
 BZU.MI  posted a 4.5% drop in first-half revenue on Friday hurt
by weak demand in Central Europe and adverse weather in Italy
and the United States.
    Buzzi said its revenue fell to 2.1 billion euros ($2.27
billion), with cement and clinker sales down 8.0% and concrete
sales dropping by 8.8%.
    "The decline at the beginning of the year continued into the
second quarter, albeit to a lesser extent, due to still weak
demand in Central Europe and increased rainfall, especially in
Italy and the United States," the company said in a note.
    Buzzi retained an upbeat outlook, however, saying it
expected demand in Italy to stabilise in the second half, thanks
in part to the country's National Recovery and Resilience Plan
(PNRR).
    ($1 = 0.9234 euros)

 (Reporting by Luca Fratangelo; editing by Jason Neely)
 ((luca.fratangelo@thomsonreuters.com; +48587696613;))