Italy: Cementir Holding increased its sales volumes of cement by 0.3% year-on-year to 5.13Mt in the first half of 2024. Nonetheless, group sales fell by 3%, to €812m, and earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 4%, to €193m. The producer succeeded in raising its net profit, by 7% to €97m. During the half, it invested €24.7m in decarbonisation, primarily in upgrading the kiln line of its 2.5Mt/yr Guarain cement plant in Belgium.
Chair and CEO Francesco Caltagirone said "Results for the first half of 2024 were in line with our expectations. The adverse weather conditions in the first months of the year and a still weak residential market in the most important geographies, as well as a significant negative exchange rate impact, affected the results for the period, which nevertheless benefited from the reduction of main operating costs".
Cementir Holding confirmed its earnings guidance for the year of €385m (down by 6% year-on-year), but revised its revenues guidance downwards by 6% from €1.8bn to €1.7bn, in line with 2023.
