Italy: Italcementi has reported that its revenue fell by 3.8% to Euro4.48bn in 2012 from Euro4.68bn in 2011. It blamed the fall on the continued effects of the economic crisis on demand for construction materials in Western Europe.

Sales volumes of cement and clinker principally fell in the group's Central & Western Europe region, by 16.1% to 16Mt in 2012. Volumes also fell by 4.5% to 14.9Mt in the group's Emerging Europe, North Africa and Middle East region. North America grew by 0.3% to 4.2Mt and Asia grew by 8% to 10.1Mt. Notably sales volumes increased across all regions in the fourth quarter of 2012.

Revenue by business line for cement and clinker fell by 3% to Euro2.90bn in 2012 from Euro2.99bn in 2011. Revenue by geographical area for the group's two declining regions represented 76% of the group's total of Euro4.48m in 2012.

In its press release the Italian based multinational cement producer added that it reduced its net financial debt by approximately Euro100m in 2012 to Euro1.99bn, helped by cash flow improvements and an investment policy focused on industrial and environmental efficiency. It added the during 2012 the group introduced measures to rationalise its production network. These include the '2015 Project' for the Italian market, announced in December 2012, which will have a positive annual effect of approximately Euro40m when fully implemented.