Cementir Holding N.v. · MIL:CEM
Cementir — Cemetir Holding — 9M 2022 Earnings Presentation
13 slides from Cementir's earnings presentation, Nov 10, 2022
Slide 1: Cementir Holding N.V. 2022 First Nine months results
Cementir Holding N.V. 2022 First Nine months results November 3rd, 2022 Conference call | 3 November 2022
Slide 2: 2022 First Nine months results highlights
2022 First Nine months results highlights • As from June 2022 Turkey is considered as “hyperinflationary”, IAS 29 has been applied to the results as at 30 Sept. 2022. Impacts on next slide. • Revenues reached 1,257.7 M€ (+25% yoy); Revenues excluding IAS 29 reached 1,248.2 M€ (+ 24% yoy), driven by
Slide 3: Hyperinflation in Turkey – Application of IAS 29
Hyperinflation in Turkey – Application of IAS 29 From June 2022, Turkey is considered hyperinflationary based on the criteria of IAS 29 – Financial reporting in hyperinflationary economies 30 Sept. 2022 Main effects of IAS 29 application: (EUR million) 30 Sept. 2022 IAS 29 effect without IAS 29 − Cu
Slide 4: Nordic & Baltic
Nordic & Baltic • Denmark − Domestic cement volumes up 10% due to increased market activity, favourable weather and new infrastructure projects, with avg. prices up − White cement exports down 28% due to US exports redistribution to other Group companies and lower sales in some European countries 38
Slide 5: Belgium and France
Belgium and France (*) 17% 22% • Belgium Share of Share of • France Group Revenue Group Ebitda 9M 2022 9M 2022 − Cement volumes broadly unchanged from 2021 with positive performance in Belgium and Netherlands, flat in France, slightly negative in Germany. − Average prices up − RMC volumes down by 4%
Slide 6: North America
North America 9% 11% Share of Share of Group Revenue Group Ebitda 9M 2022 9M 2022 • United States − +2% cement volume growth driven by Texas and California while York region and Florida negatively impacted by bad weather and logistical problems. Avg. prices up EUR '000 9M 2022 9M 2021 Chg % − EBITDA
Slide 7: Asia Pacific
Asia Pacific 6% 6% • China − Revenue up by 11.5% driven by cement price increases while volumes were down by 8% for several reasons: lockdowns, logistic issues, weather conditions and international political Share of Share of tensions Group Revenue Group Ebitda 9M 2022 9M 2022 − EBITDA down by 9% du
Slide 8: Turkey
Turkey 13% 12% • Turkey (*) Share of Share of Group Revenue Group Ebitda − Cement sales in Euro increased by 44.7%, driven by price increases, 9M 2022 9M 2022 despite a 74% TRY devaluation vs. Euro − Domestic cement volumes down by 13%, impacted by bad weather in Q1, sharp contraction in Eastern Ana
Slide 9: Egypt
Egypt 3% 4% Share of Share of Group Revenue Group Ebitda 9M 2022 9M 2022 • Egypt − White cement volumes declined by 5% with domestic sales down by 7% also due to inventory buildup by Egyptian customers in December 2021 and greater competition; exports down by 4% due to lower deliveries to Saudi Arab
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 – First Nine Months 2022
Appendix - Consolidated Income Statement – First Nine Months 2022 IAS 29 Jan-Sept Without IAS 29 (EUR million) Chg % Chg % Jan-Sept 2022 2021 Jan-Sept 2022 REVENUE FROM SALES AND SERVICES 1,257.7 1,008.3 24.7% 1,248.2 23.8% Change in inventories 24.5 (1.9) n.m. 28.1 n.m. Increase for internal work a
Slide 13: Appendix - Consolidated Income Statement – Third Quarter 2022
Appendix - Consolidated Income Statement – Third Quarter 2022 IAS 29 Without IAS 29 (EUR million) Q3 2021 Chg % Chg % Q3 2022 Q3 2022 REVENUE FROM SALES AND SERVICES 446.6 343.8 29.9% 443.0 28.9% Change in inventories 6.3 0.8 n.m. 7.8 n.m. Increase for internal work and other income 13.3 5.2 156.0%