Cementir Holding N.v. · MIL:CEM
Cementir — Cemetir Holding — H1 2024 Earnings Presentation
13 slides from Cementir's earnings presentation, Jul 29, 2024
Slide 1: Cementir Holding N.V. 2024 First Half results
Cementir Holding N.V. 2024 First Half results July 29th, 2024 Conference Call | Rome, 29 July 2024
Slide 2: Key takeaways
Key takeaways • H1 2024 Results are in line with management expectations, with overall volumes up year on year, lower Revenues and EBITDA and net profit improvement • Cement, RMC and Aggregates volumes in positive territory year on year • Both Revenues and EBITDA impacted by important infrastructure
Slide 3: 2024 First Half results highlights
2024 First Half results highlights Revenues reached 811.8 M€ (-3.4% yoy); non-GAAP* Revenues: 803.3 M€ (-7.5% yoy) FINANCIAL HIGHLIGHTS − Cement volumes broadly flat due to the increase recorded in Türkiye, US and Malaysia offsetting volume reductions in the other regions − RMC volumes up by 4% driv
Slide 4: Nordic & Baltic
Nordic & Baltic ASSET OVERVIEW SHARE OF GROUP EBITDA DENMARK − Domestic cement declined due to harsh weather conditions in Q1 2024, and a weak residential market. Fehmarn Belt recently entered the operational phase but behind schedule (32) − RMC volumes were up 2% , while aggregates volumes declined
Slide 5: Belgium and France
Belgium and France (*) ASSET OVERVIEW SHARE OF GROUP EBITDA BELGIUM AND FRANCE − Domestic cement volumes were stable in H1 2024, with moderate growth in Q2; exports to France and the Netherlands down double-digit, mainly due to adverse weather conditions and market weakness − RMC volumes were down 1
Slide 6: Türkiye
Türkiye ASSET OVERVIEW SHARE OF GROUP EBITDA TÜRKIYE − From April 2022 Türkiye is considered “hyperinflationary”. Reported figures are non-GAAP i.e. exclude the application of IAS 15% 29 and revaluation of non-industrial property − Domestic cement volumes increased by 10% thanks to significantly hig
Slide 7: North America
North America ASSET OVERVIEW SHARE OF GROUP EBITDA UNITED STATES − White cement volume slightly up. Deliveries to Texas were impacted by both harsh weather conditions and fewer working 6% days, with the backdrop of a residential market still suffering from high interest rates. In Florida deliveries
Slide 8: Egypt
Egypt ASSET OVERVIEW SHARE OF GROUP EBITDA EGYPT − Domestic white cement volumes decreased by 12% due to a weak construction market and postponement of major public projects; 4% export volumes slightly down due to lower volumes to the US because of a different timing of deliveries − Revenue in local
Slide 9: Asia Pacific
Asia Pacific ASSET OVERVIEW SHARE OF GROUP EBITDA CHINA − Revenue decreased by 16% , with volumes declining by 11%, modest price reductions and CNY devaluation 5% − Volumes were affected by the real estate crisis, harsh weather and longer national holidays − EBITDA decreased due to lower sales volum
Slide 10: 2024 Guidance – Partially revised on Revenues
2024 Guidance – Partially revised on Revenues FINANCIAL HIGHLIGHTS • Revenues revised downwards to ~ 1.7 BN€ from ~1.8 BN€, in line with 2023 • EBITDA ~ 385 M€ (unchanged) • Net cash ~ 300 M€ (unchanged, at constant perimeter) • Capex ~ 135 M€ (unchanged) Guidance refers to like-for-like ongoing ope
Slide 11: Sustainability highlights
Sustainability highlights − Decarbonization commitment: 24.7 M€ investments in NON-FINANCIAL INDICATORS sustainability, mainly for kiln upgrade in Belgium, allowing alternative fuels usage to raise to >70% G rey cem ent 2020 2023 H1 2024 CO2 emissions (kg CO2 /ton cement) 718 655 633 − Science Based
Slide 12: Appendix - Consolidated Income Statement – First Half 2024
Appendix - Consolidated Income Statement – First Half 2024 H1 2024 H1 2023 (EUR million) H1 2024 H1 2023 Chg % Chg % ( N on- G A A P) * ( N on- G A A P) * REV EN U E F ROM SA LES A N D SERV ICES 811.8 840.7 ( 3.4%) 803.3 868.2 ( 7.5%) Change in inventories 5.0 6.2 (18.0%) 7.1 9.5 (25.4%) Increase fo
Slide 13: 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