Q3 2024 Cementir Holding NV Earnings Call Transcript
Key Points
- Cement volumes increased by 0.6%, driven by strong performance in Turkey, Malaysia, and the US.
- Ready mix volumes rose by 4.5%, with notable contributions from Turkey, Sweden, and Denmark.
- Aggregate volumes grew by 4.9%, indicating a positive trend in overall production.
- The company confirmed its 2024 guidance, projecting revenues of around EUR1.7 billion and EBITDA of approximately EUR385 million.
- Cementir Holding NV has been recognized for its sustainability efforts, including a EUR35.3 million investment in decarbonization and inclusion in Europe's climate leaders ranking.
- Revenues and EBITDA declined by 4.6% and 9.3% respectively, impacted by weak volumes in certain regions and foreign currency headwinds.
- The Nordic and Baltic regions faced challenges, with Denmark experiencing a decline in domestic cement volumes due to harsh weather and stagnant markets.
- Norway saw a 21% drop in sales volumes due to weak demand and adverse weather conditions, leading to higher transport costs.
- The Turkish lira devaluation by 45.5% against the euro negatively impacted revenue, despite increased domestic cement volumes.
- In China, revenue declined by 19% due to a real estate crisis, adverse weather conditions, and renminbi devaluation.
Good afternoon. This is the chorus call conference operator. Welcome and thank you for joining the Chairman here holding 2024 first nine months results conference call.
(Operator Instructions)
At this time, I would like to turn the conference over to Mr. Marco Maria Bianconi, Head of M&A and Investor Relations. Please go ahead sir.
Thank you and welcome to Chairman for the nine months results presentation. My name is Marco Bianconi.
I'm here with our Chairman and Chief Executive Francesco Caltagirone,xaxa and I will go through about 11 slides of our presentation deck. And then Francesco is happy to take your question at the end. Starting with the first page number two of the presentation, key takeaways the first nine months 2024 results are in line with our expectations with the volumes up and a decline in both adjusted EBITDA also due foreign currency headwinds cement
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