Cementir Holding N.v. · MIL:CEM
Cementir — Cemetir Holding — H1 2022 Earnings Presentation
12 slides from Cementir's earnings presentation, Jul 28, 2022
Slide 1: Cementir Holding N.V. 2022 First Half results
Cementir Holding N.V. 2022 First Half results July 27th, 2022 Conference call | 27 July 2022
Slide 2: 2022 First Half results highlights
2022 First Half results highlights • From June 2022 Turkey is considered as “hyperinflationary” and IAS 29 has been applied as at 30 June 2022. Impacts on next slide. • Revenues reached 811 M€ (+22% yoy); Revenues excluding IAS 29 reached 805 M€ (+ 21,2% yoy), driven by price increases − Cement volu
Slide 3: Hyperinflation in Turkey – Application of IAS 29
Hyperinflation in Turkey – Application of IAS 29 30 June 2022 (EUR million) 30 June 2022 IAS 29 effect From June 2022, Turkey is considered hyperinflationary without IAS 29 based on the criteria of IAS 29 – Financial reporting in Total assets 2,437.2 196.1 2,241.1 hyperinflationary economies Total l
Slide 4: Nordic & Baltic
Nordic & Baltic • Denmark − Domestic cement volumes up 14% due to increased market activity, favourable weather and new infrastructure projects, with avg. prices up − White cement exports down 26% due to the redistribution of sales in the US to other Group companies 38% 41% − RMC volumes down 8% due
Slide 5: Belgium and France
Belgium and France (*) 18% 24% • Belgium Share of Share of Group Revenue Group Ebitda H1 2022 H1 2022 • France − Cement volumes increased by 3%, with good performance in Belgium, The Netherlands, France but negative in Germany − Average prices up − RMC volumes were flat in H1 with 6% reduction in Be
Slide 6: North America
North America 9% 10% Share of Share of Group Revenue Group Ebitda H1 2022 H1 2022 • United States − +1.5% cement volume growth driven by Texas and California while York (PA) region impacted by bad weather in Q1 and logistical problems. Avg. prices up EUR '000 H1 2022 H1 2021 Chg % − EBITDA up by 31%
Slide 7: Asia Pacific
Asia Pacific 7% 6% • China − Revenue up by 11% driven by cement prices increases while volumes were down by 10.5% for several reasons: lockdowns, logistic issues, weather conditions and international political tensions Share of Share of Group Revenue Group Ebitda − EBITDA down by 4% due to higher va
Slide 8: Turkey
Turkey 13% 15% • Turkey (*) − Cement sales significantly increased in local FX, driven by price Share of Share of increases; domestic cement volumes down by 14% while exports Group Revenue Group Ebitda were up by 30% H1 2022 H1 2022 − Domestic volumes were impacted by bad weather in Q1, sharp contra
Slide 9: Egypt
Egypt 3% 3% Share of Share of Group Revenue Group Ebitda H1 2022 H1 2022 • Egypt − White cement volumes declined by 2% with domestic sales down by 8% also due to inventory buildup by Egyptian customers in December 2021; exports up by 2% thanks to EUR '000 H1 2022 H1 2021 Chg % higher deliveries to U
Slide 10: 2022 Full Year Guidance
2022 Full Year Guidance • Revenues > 1.5 BN€ • EBITDA ~ 305 - 315M€ • Net cash ~ 60 M€ • Capex ~ 95 M€ Guidance refers to like-for-like ongoing operations These expectations do not take into account any intensification of the current crisis in Ukraine or new situations of resurgence of the Covid-19
Slide 11: 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
Slide 12: Appendix Consolidated Income Statement
Appendix Consolidated Income Statement H1 2022 (EUR million) H1 2021 Chg % IAS 29 REVENUE FROM SALES AND SERVICES 811.0 664.5 22.0% Change in inventories 18.2 (2.7) n.m. Increase for internal work and other income 43.3 8.3 419.2% TOTAL OPERATING REVENUE 872.5 670.2 30.2% Raw materials costs (410.0)