Cementir Holding has published its H1 21 results. All regions saw a strong rally in volume sales due to a weak comparison base and the revival/start of some projects. Denmark was the only region that experienced a negative EBITDA growth driven by a low price-cost mix (as prices are updated in H2 rather than H1). Hence, its pricing power in this region still remains unquestionable. Following this result, we will raise our estimates, but to the lower end of updated guidance.
29 Jul 2021
H1 21: all regions in recovery mode
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H1 21: all regions in recovery mode
- Published:
29 Jul 2021 -
Author:
Sejal Varshney -
Pages:
3
Cementir Holding has published its H1 21 results. All regions saw a strong rally in volume sales due to a weak comparison base and the revival/start of some projects. Denmark was the only region that experienced a negative EBITDA growth driven by a low price-cost mix (as prices are updated in H2 rather than H1). Hence, its pricing power in this region still remains unquestionable. Following this result, we will raise our estimates, but to the lower end of updated guidance.