Cementir reports revenues of EUR1bn in 9M21

Cementir has released its results for the first nine months and the 3Q21. Group revenue reached EUR1bn, up 12.4 per cent compared to EUR896.8m in the first nine months of 2020. Operating costs, equal to EUR804.9m, increased by 11.7 per cent compared to EUR720.3m in the first 9M20. 

During the first 9M21, cement and clinker sales volumes reached 8.3Mt, up by 8.2 per cent compared to the same period of 2020. The company said the increase was mainly attributable to performance in Turkey, Denmark and Belgium. 

Sales volumes of ready-mixed concrete, equal to 3.8Mm³, were up by 20.6 per cent mainly due to the increase in Turkey, Belgium, and Nordic and Baltic region.   

EBITDA reached EUR215.1m, an increase of 20.8 per cent compared to EUR178.1m in the first 9M20. Profit before taxes was EUR121.2m, an advance of 49.1 per cent on EUR81.2m in the first 9M20. Net financial debt as at 30 September 2021 was EUR100.1m, a decrease of EUR118.4m compared to EUR218.5m as at 30 September 2020.  

3Q21 performance
In the third quarter of 2021, cement and clinker sales volumes declined by 7.5 per cent to 2.9Mt compared to the same period in 2020, which, mainly in Turkey and Belgium, was affected by the significant increase of activity following the lockdown. 

Sales volumes of ready-mixed concrete of 1.3Mm³ were up by 3.5 per cent thanks to the positive trend in the Nordic and Baltic region and Turkey. In the aggregates segment, sales volumes reached 2.7Mt, up by 6.5 per cent, mainly as a result of the contribution of the new aggregate activity in Turkey. 

Revenue from sales was EUR343.8m, representing a 5.3 per cent increase compared to EUR326.4m in the 3Q20. EBITDA reached EUR81.6m, an advance 1.6 per cent on the 3Q20 (EUR 80.3m). Profit before taxes came to EUR51.8m.