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News Cementir Holding reports mixed financial results for first quarter of 2024

Cementir Holding reports mixed financial results for first quarter of 2024

Written by Global Cement staff 10 May 2024
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Italy: Cementir Holding has disclosed its financial results for the first quarter of 2024, showing a mixed performance. While the company saw growth in volumes compared to 2023, with cement up 2.3%, ready-mixed concrete up 3.7% and aggregates up 8.9%, financial metrics indicated some challenges.

Revenue for the quarter stood at €368m, marking an 11.2% decrease from €415m in the same period of 2023. Similarly, earnings before interest, depreciation and amortisation (EBITDA) fell by 18.1% year-on-year to €66.5m, down from €81.2m in the first quarter of 2023. The company's profit before taxes also declined by 8.2% year-on-year to €58.7m from €63.9m. However, Cementir Holding reported net cash of €76.6m, a substantial increase from a net financial debt of €32.1m as of 31 March 2023.

Last modified on 14 May 2024
Published in Global Cement News
Tagged under
  • Italy
  • Cementir Holding
  • Results
  • GCW659

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