Cementir Holding N.v. · MIL:CEM
Cementir — Cemetir Holding — Q1 2024 Earnings Presentation
12 slides from Cementir's earnings presentation, May 9, 2024
Slide 1: Cementir Holding N.V. 2024 First Quarter results
Cementir Holding N.V. 2024 First Quarter results May 9th, 2024 Conference Call | Rome, 9 May 2024
Slide 2: Key takeaways
Key takeaways • Q1 2024 Results are in line with management expectations • Cement, RMC and Aggregates volumes in positive territory year on year • Some important infrastructure projects being delayed are expected to kick-in later in the year • Nordic & Baltic and Belgium performance impacted by fewe
Slide 3: 2024 First Quarter results highlights
2024 First Quarter results highlights Revenues reached 368.3 M€ (-11.2% yoy); non-GAAP* Revenues: 367.1 FINANCIAL HIGHLIGHTS M€ (-11.3% yoy) − Cement volumes up by 2.3% due to the increase recorded in Türkiye, which offset the reduction in volumes in the other regions − RMC volumes up by 3.7% driven
Slide 4: Nordic & Baltic
Nordic & Baltic ASSET OVERVIEW SHARE OF GROUP EBITDA DENMARK − Domestic cement declined due to harsh weather conditions, fewer working days (Easter in Q1) and a residential market still not recovering (32) − RMC volumes were down 4% , while aggregates volumes (27) 39% increased slightly − EBITDA con
Slide 5: Belgium and France
Belgium and France (*) ASSET OVERVIEW SHARE OF GROUP EBITDA BELGIUM AND FRANCE − Domestic cement volumes declined by 3% ; exports to France and the Netherlands down double-digit, due to adverse weather conditions and a general market weakness − RMC volumes were down 20% with a more significant drop
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 13% 29 and revaluation of non-industrial property − Domestic cement volumes increased by +22% thanks to significantly hi
Slide 7: North America
North America ASSET OVERVIEW SHARE OF GROUP EBITDA UNITED STATES − White cement volume declined by 4%, as deliveries to Texas and in York region were impacted by both harsh weather conditions 7% and fewer working days, with the backdrop of a residential market still suffering from high interest rate
Slide 8: Egypt
Egypt ASSET OVERVIEW SHARE OF GROUP EBITDA EGYPT − Domestic white cement volumes decreased by 16% due to a weak construction market and fewer working days; export volumes increased 5% − Revenue in local currencies was up 17.4%. Revenue in Euro declined by 1.7% because of EGP devaluation − EBITDA dec
Slide 9: Asia Pacific
Asia Pacific ASSET OVERVIEW SHARE OF GROUP EBITDA CHINA − Revenue decreased by 17% , with volumes declining by 10%, modest price reductions and 6% CNY devaluation 5% − Volumes were affected by low temperature, early closure for Chinese New Year and weak real estate demand − EBITDA decreased due to l
Slide 10: 2024 Guidance - Confirmed
2024 Guidance - Confirmed FINANCIAL HIGHLIGHTS • Revenues ~ 1.8 BN€ • EBITDA ~ 385 M€ • Net cash ~ 300 M€ • Capex ~ 135 M€ Guidance refers to like-for-like ongoing operations, non-GAAP, excluding extraordinary items The above guidance excludes the negative repercussions of geopolitical shocks or oth
Slide 11: Appendix - Consolidated Income Statement – First Quarter 2024
Appendix - Consolidated Income Statement – First Quarter 2024 Q1 2024 Q1 2023 (EUR million) Q1 2024 Q1 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 368.3 414.8 ( 11.2%) 367.1 413.8 ( 11.3%) Change in inventories 4.6 10.2 (55.0%) 5.2 11.1 (53.6%) Incr
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