Company Reports

Buzzi is a family-owned producer of cement, ready-mixed concrete, and aggregates. The company ranks among the top five players by market share in both Germany and Italy, while the US remains its largest market by both sales and EBITDA contribution. Unlike its main listed peers, which also carry significant aggregates exposure, Buzzi's business is concentrated predominantly in cement and ready mix, with cement generating roughly 70% of group sales.

We initiate coverage on Buzzi SpA, a family-controlled cement manufacturer with core operations in the US, Italy, and Central Europe. Buzzi earns most of its revenue from cement and has the largest cement concentration within our European building materials coverage.