Fluctuating trend in brick and tile sector

The first edition of the "Financial statement analysis of world brick and tile manufacturers" produced by the Acimac Research Department is now available.

Published as part of the "Financial Statement Analysis" series, the study contains the economic and financial data for the three-year period 2011-2013 of 205 brick and tile producers, including 68 in Italy, 43 in Spain, 38 in other EU countries and 55 in the rest of the world, making up a total of 21 different countries.

The survey analyses the economic and financial performances of individual companies and the average results of four geographical areas: Italy, Spain, other EU countries and the rest of the world.

The trends revealed by the study reflect the widespread difficulties faced by the building sector and the variations between different geographical areas, although the overall picture shows encouraging signs of improvement.

The figures for Italy clearly show the results of the production cost rationalisation process with an improved level of added value (28.18% of turnover). However, difficulties remain in terms of financial equilibrium (leverage 2.52%) and the average profitability indicators, which are still negative.

The analysis of the economic performance of Spanish companies reveals a more difficult situation, with profitability indicators remaining especially negative in spite of signs of a recovery in 2013. Furthermore, Spain's building crisis is reflected in the precarious financial equilibrium in which companies find themselves, partly due to the considerable difficulties in gaining access to credit.

The analysis of the group of 38 EU companies reveals more positive signs in terms of profitability, especially in 2013. By contrast, added value contracted slightly compared to 2012.

The figures for non-European companies (non-EU Europe, Asia and America Latina) were strongly positive, showing steady growth over the entire three-year period and closing 2013 with an ROI of 7.32% and an ROS of 6.17%. The results were influenced positively by the favourable conditions enjoyed by these countries in terms of labour costs per unit product.

View technical page and table of contents of the study