Cementir Holding N.v. · MIL:CEM
Cementir — Cemetir Holding — H1 2023 Earnings Presentation
12 slides from Cementir's earnings presentation, Jul 27, 2023
Slide 1: Cementir Holding N.V. 2023 First Half results
Cementir Holding N.V. 2023 First Half results July 27th, 2023 Conference Call | Rome, 27 July 2023
Slide 2: 2023 First Half results highlights
2023 First Half results highlights • From April 2022 Türkiye is considered “hyperinflationary”; hence results as of 30 June 2023 are prepared using IAS 29 accounting principle • Revenues reached 840.7 M€ (+1.1% yoy); non-GAAP* Revenues reached 868.2 M€ (+ 5.1% yoy) − Cement volumes down by 5.5% due
Slide 3: Nordic & Baltic
Nordic & Baltic Asset overview Share of Group Ebitda • Denmark H1 2023 − Cement volumes declined as domestic market was affected by unfavourable weather and slowing demand due to higher interest (32) rates, partially compensated by cement supply for Fehmarn project (27) 40% − Lower exports due to a
Slide 4: Belgium and France
Belgium and France (*) Asset overview Share of Group Ebitda H1 2023 Grey cement plant (1) RMC (13) Terminals (3) 20% • Belgium • France − Cement volumes declined by 10% due to a generalized demand slowdown and unfavourable weather. − RMC volumes were down 7% both in Belgium and France EUR '000 H1 20
Slide 5: North America
North America Asset overview Share of Group Ebitda H1 2023 6% White cement plants (2) Terminals (31) • United States − White cement volume declined by 14%, in line with the residential market. Deliveries to Texas and Florida suffered from a stronger contraction due to competitive pressures from impo
Slide 6: Asia Pacific
Asia Pacific Asset overview Share of Group Ebitda H1 2023 6% • China − Revenue up by 1.5% with 16% growth in volumes and lower cement prices. In Q1 2023 cement sales were negatively affected by lockdowns and Chinese New Year; in Q2 2023 volumes were significantly up − EBITDA includes 2.5 M€ of capit
Slide 7: Türkiye
Türkiye Asset overview Share of Group Ebitda H1 2023 23% • Türkiye (**) − Revenue increased by 38% , with domestic cement volumes +16% thanks to significantly higher sales in Marmara and Eastern Anatolia. Many new projects in Istanbul driven by Grey cement plant (4) antiseismic investments. RMC (21)
Slide 8: Egypt
Egypt Asset overview Share of Group Ebitda H1 2023 3% White cement plants (1) • Egypt − Revenue declined by 5.1% because of the strong devaluation of Egyptian pound vs Euro (-74%) − White cement volumes increased by 8% with stable domestic deliveries and higher exports, in particular to the US EUR '
Slide 9: 2023 Full Year Guidance - revised
2023 Full Year Guidance - revised • Revenues ~ 1.8 BN€ (from over 1.8 BN) • EBITDA ~ 365 M€ (up by over 7% from 335-345 M€) • Net cash > 200 M€ (unchanged) • Capex ~ 113 M€ (unchanged) Guidance refers to like-for-like ongoing operations, non-GAAP (excluding IAS 29) excluding extraordinary items Thes
Slide 10: Appendix - Consolidated Income Statement – First Half 2023
Appendix - Consolidated Income Statement – First Half 2023 H1 2023 H1 2022 (EUR million) H1 2023 H1 2022 Chg % Chg % (Non-GAAP)* (Non-GAAP)* REVENUE FROM SALES AND SERVICES 840.7 831.6 1.1% 868.2 825.8 5.1% Change in inventories 6.2 18.2 (66.2%) 9.5 20.3 (53.3%) Increase for internal work and other
Slide 11: Appendix - Consolidated Income Statement – Second Quarter 2023
Appendix - Consolidated Income Statement – Second Quarter 2023 Q2 2023 Q2 2022 (EUR million) Q2 2023 Q2 2022 Chg % Chg % (Non-GAAP)* (Non-GAAP)* REVENUE FROM SALES AND SERVICES 425.9 460.8 (7.6%) 454.5 455.0 (0.1%) Change in inventories (4.0) 2.0 n.m. (1.6) 4.1 n.m. Increase for internal work and ot
Slide 12: Disclaimer and Other information
Disclaimer and Other information •This presentation has been prepared by and is the sole responsibility of Cementir Holding N.V. (the Investor Relations: “Company”) for the sole purpose described herein. In no case may it or any other statement (oral or otherwise) made at any time in connection here