Cementir reports 9M24 cement and clinker volumes of 8Mt
Cementir Holding reports that in the first 9M24, cement and clinker sales volumes, equal to 8Mt, increased by 0.6 per cent compared to the same period of 2023, thanks to the increase recorded in Türkiye and to a lesser extent in Malaysia and the United States, which offset the reduction in volumes in the other geographical areas.
Ready-mixed concrete sales volumes of 3.3Mm3 increased by 4.5 per cent, driven by the positive performance of Türkiye and to a lesser extent Sweden and Denmark, while Norway and Belgium recorded a decline due to slowing demand and adverse weather conditions in the first months of the year.
Aggregate sales volumes reached 7.3Mt, up 4.9 per cent, driven mainly by Türkiye and Belgium, while they decreased in Sweden and Denmark.
The group’s revenue from sales and services, amounting to EUR1227.3m, decreased by 4.8 per cent compared to EUR 1288.9m in the first nine months of 2023 due to the decrease in volumes in some regions, with the exception of Türkiye and Egypt, where, however, the significant depreciation of the respective currencies led to a reduction in the result in euros. It should be noted that at constant exchange rates 2023 revenues would have been equal to EUR1353.6m, up by five per cent compared to the same period of the previous year. At EUR943.7m, operating costs decreased by 6.5 per cent compared to EUR1009.4m in the first 9M23.
The cost of raw materials, equal to EUR497.5m, decreased by 12.6 per cent compared to EUR 569.4m in the first 9M23, mainly due to the combined effect of lower volumes and the benefit deriving from the exchange rate effect, in particular in Türkiye.
EBITDA stood at EUR289.1m, down 10 per cent compared to EUR321.1m in the first nine months of 2023, due to lower results achieved in all geographical areas except Egypt.
Profit before taxes was EUR214.1m, a decrease of 13.1 per cent compared to EUR246.4m in the first nine months of 2023, down 7.2 per cent net of non-recurring items.
