Q3 beat driven by Turkey and Belgium
CEM reported a stronger set of Q3 numbers with recurrent EBITDA surprising again. Net revenues (ex IAS-29) were down 7% in the quarter, but volumes improved sequentially with positive development in cement (+1%), almost stable aggregates (-1%), while ready-mix closed down (c7%). Q3 23 EBITDA of EUR 118m grew by c20% chiefly thanks to strong (volume) improvement in Turkey and positive price-cost spread in Belgium. The company closed the first nine months with ....
06 Nov 2023
Beat and raise again in Q3
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Beat and raise again in Q3
- Published:
06 Nov 2023 -
Author:
Baldelli Michele BM | Grimaldi Giuseppe GG -
Pages:
11
Q3 beat driven by Turkey and Belgium
CEM reported a stronger set of Q3 numbers with recurrent EBITDA surprising again. Net revenues (ex IAS-29) were down 7% in the quarter, but volumes improved sequentially with positive development in cement (+1%), almost stable aggregates (-1%), while ready-mix closed down (c7%). Q3 23 EBITDA of EUR 118m grew by c20% chiefly thanks to strong (volume) improvement in Turkey and positive price-cost spread in Belgium. The company closed the first nine months with ....