During the first half, the majority of Group cement sales volumes benefited from a substantially positive sales price trend. Specifically, compared with the previous year, the largest increases were in India, Italy, North America and Spain. The key factors affecting performance in revenue, which dropped 4.9%, were the contraction in volumes on the European market and the volatility of the Egyptian market. The volume effect and the increase in variable costs impacted first-half operating results (EBITDA down 11.8% in part due to the decision to sell fewer CO2 emission rights), which benefited from the programs to boost efficiency and cut fixed costs.

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