(Reuters) -Italian construction group Buzzi on Tuesday lowered its 2025 guidance after reporting like-for-like sales which rose 6.5% to 2.19 billion euros ($2.53 billion) in the first six months of the year.
For 2025, Buzzi now expects to achieve a recurring earnings before interest, tax, depreciation and amortisation (EBITDA) in the range of 1.1–1.2 billion euros.
The company had previously said earnings would be close to 2024 levels when it reported recurring EBITDA of 1.28 billion euros.
The company said that construction investment had declined in the United States due to a weak performance in the private sector.
“Despite weak shipments trends in the United States, demand recovery in Central and Eastern Europe drove overall performance”, the company said in a statement.
Buzzi’s shares were down 5.2% to 42.18 euros at 12:30 GMT having fallen as much as 7.4% to their lowest since April 9.
Ready-mix concrete sales were up 3.7% and cement shipments increased by 23.7%.
($1 = 0.8666 euros)
(Reporting by Laura Contemori in Gdansk, editing by Matt Scuffham)
