Cementir reports 27% revenue rise in 2022

Cementir reported consolidated 2022 group revenue at the record level of EUR1720.9m (US$1851.4m), up by 26.5 per cent compared to EUR1360m in 2021. 

EBITDA reached the record level of EUR355m, up by 14.2 per cent on 2021. EBIT, after amortisation, depreciation, impairment losses and provisions of EUR119.4m (EUR113.2m in 2021), amounted to EUR235.6m, up by 19.1 per cent from EUR197.8m in the previous year. Profit before taxes was EUR247.6m, an increase of 43.9 per cent compared to EUR172m of 2021. 

During 2022 cement and clinker sales volumes of 10.8Mt were down by 2.7 per cent compared to 2021 due to the general slowdown of the market mainly in Turkey, Denmark, China and Belgium, especially in the second half of the year.  

Ready-mixed concrete sales volumes of 4.8Mm³, representing a 5.8 per cent fall compared to 2021 due to the decrease recorded in Turkey, Denmark, Belgium and Sweden.  

Aggregates sales volumes of 10.5Mt showed a 5.3 per cent decline compared to 2021 due to the market slowdown in Sweden and Denmark.  

Outlook
For the year 2023, the group expects to achieve consolidated revenues of over EUR1.8bn, an EBITDA between EUR335 and EUR345m and a positive cash position of over EUR200m at the end of the period, including industrial investments of approximately EUR113m.