Cemetir Holding (CMTHF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, this is the course call conference operator. Welcome and thank you for joining the Chairman Tier First Quarter 2026 Results Conference Call. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Marco Maria Bianconi, Chief M&A and IR Officer. Please go ahead, sir. Thank you. Good evening and welcome to Chairman Tiroldi's first quarter 2026 results webcast. I'm here with our Chairman and Chief Executive, Francesco Caltagirone. Good afternoon. Who's happy to take your question at the end of my short presentation. So starting with the key takeaways on page two, Q1, 2026 results were impacted by marked seasonality and a different maintenance schedule. The harshest winter in the past 20 years in Europe and Turkey, together with a different maintenance schedule and a sharper than expected volumes and profitability decline in Turkey has impacted our results. Volumes were down across all business lines, cement minus 3.3%, ready mix minus 23.7%, aggregates minus 5.1%, mainly driven by weather disruption, a weaker demand in Asia Pacific, and lower activity in Turkey. Positive trends in Belgium and Egypt following the restarts of the second kiln, and a volume recovery was visible in March in some regions. Revenue, was down 7.1% year-on-year, driven by lower volumes across several regions and a negative FX impact of around 21.4 million euro, mainly due to Turkish lira and US dollar depreciation. EBITDA was down around 40.6% for the quarter, of which around 25 million euro relate to Nordic and Baltic and Turkey, reflecting lower volumes and different scheduling...