Cemetir Holding (CMTHF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, this is the Carus Call Conference Operator. Welcome and thank you for joining the Chairman's Holding First Alpha 2026 Results Conference Call. As a reminder, all participants are in listen-only mode. 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, Head of M&A and Investor Relations of Cementir. Please go ahead. Thank you and welcome to Cementir Holding First Off Results presentation. I'm here with our Chairman and Chief Executive, Francesco Caldavirone, who is happy to take your question at the end of my short presentation. I'll go through the presentation deck that has been distributed ahead of this meeting. starting with page two with the key takeaways on the results. There has been a significant improvement in the second quarter, despite the first quarter that was impacted by exceptionally adverse weather conditions. At constant perimeter, Q2 cement volumes were up 3.4%, non-GAAP revenue was up 5.3%, and EBITDA was up 12.9%, confirming a positive reversal compared to the weak start of the year. On a reported basis, consolidated volume declined across all business lines with cement minus 2.9%, ready mix minus 10.9%, and aggregate minus 2.6%. At cost and perimeter, though, excluding the disposal of car cemento, cement volumes were up 1.4% in the first half of the year. There was a positive trend in Belgium and Egypt following the restart of the second kill. Reported performance was affected by forex headwinds, mainly due to the depreciation of the Turkish lira and of the US dollar. This negative impact amounted to €37.4...