Italy · Delayed Price · Currency is EUR Cementir Holding Earnings Call Transcripts
Fiscal Year 2025
-
Revenue for 2025 declined 2.8% to €1.639 billion, but EBITDA rose 8% to €439.5 million, with strong cash generation and a robust net cash position. 2026–2028 guidance targets steady revenue and EBITDA growth, major sustainability investments, and continued focus on decarbonization and innovation.
-
Results for the first nine months were stable, with slight revenue and EBITDA declines due to FX and non-recurring events. 2025 guidance is unchanged, with management expecting improved EBITDA and net cash in 2026, supported by volume recovery and stable costs.
-
First half 2025 saw stable volumes and slightly higher revenue, but lower EBITDA due to FX headwinds and one-off events in Belgium and Egypt. Guidance for 2025 is confirmed, with management expecting to recover H1 setbacks in H2 and possibly exceed budget.
-
Q1 2025 saw modest revenue growth and stable margins despite lower cement volumes and FX headwinds. EBITDA improved in Nordic & Baltic and Malaysia, while Turkey and Egypt faced challenges. 2025 guidance is confirmed, with expectations of a mild demand pickup and continued cost discipline.
Fiscal Year 2024
-
2024 saw stable revenues and strong cash generation despite FX headwinds, with growth expected to accelerate through 2027, driven by capacity expansion, sustainability investments, and robust cash flow. CO2 regulation and FX volatility remain key risks.
-
Volumes increased across key products, but revenues and EBITDA declined due to currency headwinds and weak demand in some regions. Sustainability investments and a major EU grant for carbon capture support long-term growth, with 2024 guidance confirmed and improvements expected in 2025.
-
First half 2024 saw higher volumes but lower revenues and EBITDA, with net profit up year-on-year. Revenue guidance was revised down due to project delays and export bans, while EBITDA and CapEx guidance remain unchanged. Stable prices and improved cost structure support resilience.