Vicat sees 2023 core earnings at least equal to record 2021, shares rise

Vicat SA

15/02/2023 11:47

** Shares in Vicat  VCTP.PA  rise 6% after the cement and
concrete supplier said it sees 2023 core earnings at least
equivalent to record 2021 levels 
    ** It sees EBITDA in 2023 rising to at least the record 619
million euros ($663.38 million) posted in 2021
    ** "Supportive guidance into 2023," says Barclays analyst 
Pierre Rousseau, flagging recovery of one-offs, possible cost
recovery and significant benefits from its recent strategic
capital expenditures mostly in U.S
    ** FY consolidated sales rose to 3.64 billion euros ($3.90
million) from 3.12 billion in 2021; EBITDA dropped 8% to 570 mln
    ** "energy costs are expected to stabilise progressively at
levels above those seen in 2022," Vicat adds
    ** Vicat shares are on track for a best day since March 2022
($1 = 0.9331 euros)
 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))