During 2021, Cementir’s cement and clinker sales volumes reached 11.2Mt, up 4.1 per cent compared to 2020 thanks to a favourable trend in all countries.
Sales volumes of ready-mixed concrete, equal to 5.1Mm3, increased by 14.8 per cent mainly due to Turkey and, to a lesser extent, Denmark and Norway.
In the aggregates segment, sales volumes reached 11.1Mt, up 8.1 per cent. Group revenue set the historical record of EUR1360m, up 11 per cent compared to EUR1224.8m in 2020.
Also, EBITDA hit a historical record of EUR311m, up by 17.9 per cent compared to EUR263.7m in 2020, following better results achieved in all countries except Denmark and Malaysia.
The EBITDA margin was 22.9 per cent compared to 21.5 per cent in 2020. EBIT, after EUR113.2m of amortisation, depreciation, impairment losses and provisions (EUR106.6m in 2020), amounted to EUR197.8m, up 25.8 per cent compared to EUR157.2m in the previous year.
The group made investments of EUR79.6m, on top of which further EUR19.5m relate to the application of IFRS 16 accounting standard. For 2020, the corresponding amounts were equal to EUR55.7m and 30.2m, respectively.
Net financial debt as at 31 December 2021 was EUR40.4m, a reduction of EUR 81.8m compared to EUR122.2m as at 31 December 2020.
4Q21 results
In the fourth quarter of 2021, Cementir’s cement and clinker sales volumes reached 2.8Mts, down by 6.1 per cent compared to the fourth quarter of 2020, mainly because of Turkey.
Ready-mixed concrete sales volumes of the, equal to 1.3Mm3, were up by 1.1 per cent thanks to the positive trend in Belgium and Turkey.
Meanwhile, aggregates sales volumes reached 2.8Mt, up 3.1 per cent mainly as a result of the contribution of Turkey.
Outlook
For the year 2022, the group expects to achieve consolidated revenues of over EUR1.5bn, EBITDA between EUR305m and 315m and net cash position of approximately EUR60m at the end of the period, after EUR95m investments.
