Cementir sees strong regional sales in Turkey

Cementir sees strong regional sales in Turkey
11 March 2021

Cementir Holding’s consolidated results for 2020 saw a surge in Turkish local cement demand and exports. This saw an increase in revenues of 53 per cent in local currency and a rise of 39 per cent in overall clinker and cement sales volumes. 

Turkish sales volumes in the domestic market grew by 27 per cent. Exports of cement and clinker more than doubled with new markets of Africa and the Middle East. Ready-mix concrete volumes rose by 47 per cent compared to 2019. Overall revenue totalled EUR141.8m, an increase of 11 per cent compared to 2019. EBITDA grew by more than 390 per cent to EUR6.8m compared to EUR-2.3m in 2019.

In Egypt sales volumes of white cement in the local market increased by 13 per cent compared to 2019. Exports of white cement rose by 18 per cent mainly due to higher sales in Europe.

Egyptian sales revenue grew by more than 21 per cent to EUR43.4m from EUR35.8m in 2019, while EBITDA rose by more than 54 per cent to EUR9.8m.

Regional sales in Denmark reach EUR384.2m, up 3.9 per cent on 2019 mainly due to an increase of both grey and white cement in the domestic market. 

In some segments, such as paving and retail sales, the lockdown generated an increase in sales. Average sales prices in Denmark saw an increase, while exports of white cement rose by five per cent compared to 2019. Higher white cement deliveries were recorded to Poland, Germany, Finland and France. 

Meanwhile, grey cement exports fell by nine per cent due to lower deliveries to Norway and Iceland. Average selling prices for grey cement increased but contracted for white cement. Ready-mix concrete volumes increased modestly compared to 2019 while aggregate volumes rose mainly due to infrastructure projects. EBITDA in 2020 totalled EUR131.4m compared to EUR112.2m in 2019.

Norway and Sweden
In Norway, ready-mix concrete sales volumes fell by 11 per cent YoY although volumes recovered in the final months of 2020. In Sweden ready-mix concrete and aggregate sales volumes rose by seven per cent compared to 2019. In 2020 total sales revenue in Norway and Sweden amounted to EUR176.4m compared to EUR193.4m in 2019. EBITDA fell to EUR17.4m from EUR20.1m in 2019.

In Belgium cement sales volumes fell by three per cent compared to 2019. Ready-mix concrete sales volume declined by nine per cent in Belgium and France. Aggregates sales volumes fell by 7.5 per cent compared to 2019. Overall sales revenue in Belgium fell by 3.2 per cent to EUR253.2m from EUR261.7m in 2019.

North America
North American white cement sales volumes rose by three per cent. Total sales in the USA rose by 13 per cent to EUR153m compared to EUR151m in 2019 while EBITDA declined by 11.5 per cent to EUR21.3m.

In China sales revenues increased by 3.2 per cent to EUR54.9m from EUR53.2m in 2019. EBITDA rose by nine per cent to EUR17.1m from EUR15.6 per cent in 2019.

Malaysia saw white cement volumes fall in the domestic market by 24 per cent. Exports fell by nine per cent with the contraction in Australian clinker exports being slightly offset by exports to other southeast Asian countries. Sales revenue in Malaysia fell by 10 per cent to EUR39.9m from EUR44.4m in 2019. EBITDA fell by 14.3 per cent compared to EUR7.9m in 2019.

Published under Cement News