Italy: Caltagirone Group company Cementir Holding sold 7.7Mt of grey cement, white cement and clinker in the first nine months of 2020, up by 11% year-on-year from 6.9Mt in the first nine months of 2019. Earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 2% over the period, to Euro178m from Euro182m, while sales also declined, by 1% to Euro897m from Euro906m.
One notable region where the trend was reversed was Egypt, where, in spite of a 2.5% fall in cement and clinker volumes, EBITDA rose by 40% to Euro6.81m from Euro4.86m and sales rose by 16% to Euro31.3m from Euro27.1m. EBITDA also rose in the Nordic and Baltic, Turkey, China and Asia-Pacific regions.
Chief executive officer (CEO) and chair Francesco Caltagirone said, “Results significantly improved in the third quarter, with cement up by 19% and EBITDA up by 12% compared to the third quarter of 2019.”
