Cementir sees 49% rise in EBITDA for 1Q21

Cementir Holding has reported a 12.6 per cent YoY increase in group revenue to EUR300.5m for the first quarter of 2021, compared to EUR266.9m in the 1Q20.

EBITDA rose 49.4 per cent YoY to EUR48.1m from EUR32.2m, while its EBITDA margin advanced to 16 per cent from 12.1 per cent.

"In the first quarter of 2021, the group reported results above our expectations, with revenues up by over 12 per cent, EBITDA by 49 per cent and EBIT by over 300 per cent compared to the same period of 2020. These results reflect the resumption of all operating activities and in particular those in Turkey, Belgium and Denmark," said Francesco Caltagirone Jr, chairman and CEO.

In the first three months of 2021, cement and clinker sales volumes reached 2.393Mt, up 17.5 per cent from 2.037Mt in the year-ago period. The increase is attributable to the positive performance in Turkey, Belgium and Denmark, according to the company.