Vicat hits over 2-year low on half-year profit decline

Vicat SA

28/07/2022 08:43

** Shares in Vicat  VCTP.PA  drop 10% to lowest in more than
2 years after the French cement manufacturer's H1 profit slumped
    ** The group's EBITDA decreased 9.8% to 269 mln euros
($274.57 mln), net income declined 22.7% to 78 mln
euros urn:newsml:reuters.com:*:nL8N2Z87U2
    ** Vicat said it had been affected by higher energy costs
and non-recurring industrial costs in the United States, France
and India
    ** It added that EBITDA is likely to grow in 2022 but not as
much as in 2021, and expects erosion in its FY EBITDA margin
    ** The stock of Vicat, down about 33% YTD, on track for its
worst day since March 2020

($1 = 0.9797 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))