Investor Presentaiton
Türkiye
ASSET OVERVIEW
SHARE OF GROUP EBITDA
Grey cement plant (4):
RMC (21)
◇ Waste (1)
EUR '000
Revenue
EBITDA
EBITDA Margin %
C
18%
2023 Non-GAAP
2023
2022
Chg %
(Non-GAAP)
(Non-GAAP)
329,744
74,834
272,581
30,880
21.0%
142.3%
22.7%
11.3%
TÜRKIYE
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-
-
-
From April 2022 Türkiye is considered "hyperinflationary".
Reported figures are non-GAAP i.e. exclude the application of IAS
29 and revaluation of non-industrial property.
Revenue increased by 21%, with domestic cement volumes +16%
thanks to significantly higher sales in Marmara and Eastern
Anatolia. Many new projects driven by anti-seismic investments.
Cement exports were down by 27% due to sales optimization
RMC volumes increased by 7%, aggregates volumes increased by
11%, despite negative trend in H1 2023 due to temporary
operational issues
EBITDA reached 75 M€ driven by cement prices more than
offsetting production cost increase and currency devaluation
EBITDA includes a non-recurring 3.7 M€ gain on assets sale
Excluding non-recurring items, EBITDA would have reached
71 M€, up by 130% on a like for like basis
48% TRY devaluation vs. Euro average
cementirholding
CALTAGIRONE GROUP
(*) Non-GAAP figures exclude both the impact of IAS 29 (Financial Reporting for hyperinflationary economies)
and of non-industrial property revaluation (2023: 7.7 M€, 2022: 16.3 M€)
23
Ca
Concretely DynamicView entire presentation