Cementir Holding N.V. · MIL:CEM
Cementir — 9M 2026 Earnings Presentation
18 slides from Cementir's earnings presentation, Nov 5, 2026
Slide 1: 2026 First Nine Months Results
2026 First Nine Months Results Conference Call Presentation ROME, 5 NOVEMBER 2026
Slide 2: Key takeaways
Key takeaways Progressive performance improvement continued into Q3, helping to close the gap accumulated at the beginning of the year. 9M results were affected by exceptionally adverse weather conditions in Europe and Türkiye and a different maintenance schedule in the first quarter. At constant pe
Slide 3: 2026 First nine months results highlights
2026 First nine months results highlights* Revenue reached 1,255.1 M€ (+2.3% yoy); non-GAAP** Revenue Financial Highlights – Non GAAP** reached 1,248.9 M€ (+1.3% yoy and +2.6% at constant perimeter) • 48.3 M€ negative FX impact, mainly due to TRY and USD depreciation • Cement volumes decreased by 4.
Slide 4: Nordic & Baltic
Nordic & Baltic Asset overview Share of Group EBITDA DENMARK • Construction market was weak, affected by restrictive financing conditions, energy-cost uncertainty and project postponements 46% • Grey domestic cement volumes slightly down, impacted by (33) exceptionally harsh winter weather and Fehma
Slide 5: Belgium and France
Belgium and France* Asset overview Share of Group EBITDA BELGIUM AND FRANCE • Domestic cement volumes moderately up, supported by new customers and a major infrastructure project in Antwerp 27% • Exports to France and Netherlands up 14% driven by a gradual recovery in construction activity, an expan
Slide 6: Türkiye
Türkiye Asset overview Share of Group EBITDA TÜRKIYE • Challenging operating environment with high interest rates and inflation, although gradually easing, geopolitical 12% tensions and energy market volatility • Domestic cement volumes -8.5% yoy due to the Kars (x6) disposal, but +3.8% at constant
Slide 7: North America
North America Asset overview Share of Group EBITDA UNITED STATES • Residential market remained challenging, with high 7% mortgage rates (~7%) and rising construction costs • White cement volumes -2% yoy, showing overall resilience despite the fourth consecutive year of declining US cement consumptio
Slide 8: Egypt
Egypt Asset overview Share of Group EBITDA EGYPT • Strong performance despite a challenging macroeconomic environment, with high inflation, currency volatility and 4% rising energy costs • Domestic white cement volumes +28%, supported by resilient construction demand, stronger commercial positioning
Slide 9: Asia Pacific
Asia Pacific Asset overview Share of Group EBITDA CHINA • Market environment remains weak despite government support measures, with subdued domestic demand, a 3% persistently weak real estate sector and industry overcapacity • Volumes -7% yoy, also impacted by adverse weather conditions • Revenues d
Slide 10: 9M 2026 EBITDA bridge – recovery since Q1
9M 2026 EBITDA bridge – recovery since Q1 Q2 and Q3 EBITDA improvement offset most of the Q1 shortfall 24.6 M€ Euro M Q2 + Q3 recovery 284.0 278.2 11.8 (1.6) (28.9) 12.8 EBITDA 9M Delta Q1* Delta Q2* Delta Q3* Perimeter EBITDA 9M 2025 effect 2026 * Q1, Q2 and Q3 deltas represent the year-on-year cha
Slide 11: 2026 Guidance - confirmed
2026 Guidance - confirmed In light of the results achieved in the nine months 2026 and despite the uncertain macroeconomic and geopolitical environment we reiterate our full-year guidance REVENUE* (€ BN) EBITDA* (€ M) NET CASH (€ M) Revenue ~ 1.7 BN€ +5% <5% +125 M€ Pro-Forma* EBITDA 400 - 420 M€ 1.
Slide 12: Appendix
02 Appendix GREEN BELT BRIDGE, DENMARK
Slide 13: Appendix – Consolidated Income Statement – Nine Months 2026
Appendix – Consolidated Income Statement – Nine Months 2026 9M 2026 9M 2025 (EUR million) 9M 2026 9M 2025 Chg % Chg % (Non-GAAP)* (Non-GAAP)* REVENUE FROM SALES AND SERVICES 1,255.1 1,227.1 2.3% 1,248.9 1,232.4 1.3% Change in inventories (6.9) 9.0 n.m. (5.3) 10.8 n.m. Increase for internal work and
Slide 14: Appendix – Consolidated Income Statement – Q3 2026
Appendix – Consolidated Income Statement – Q3 2026 Q3 2026 Q3 2025 (EUR million) Q3 2026 Q3 2025 Chg % Chg % (Non-GAAP)* (Non-GAAP)* REVENUE FROM SALES AND SERVICES 456.9 430.4 6.2% 455.2 425.4 7.0% Change in inventories 2.7 13.1 (79.2%) 3.1 13.6 (77.5%) Increase for internal work and other income 3
Slide 15: Nymølle acquisition: expanding in Danish aggregates
Nymølle acquisition: expanding in Danish aggregates A bolt-on acquisition in the aggregates business, enhancing vertical integration and securing a stronger Nordic platform. NYMØLLE PROFILE • The largest aggregates player* in Denmark, with around 10% Nymølle - Active market share Nymølle - Inactive
Slide 16: M&A track record
M&A track record Since 2001 around EUR 2 billion invested with no recourse to shareholder equity 600 254 312 152 112 22 9 125 87 48 4 11 5 11 -315 4 4 -51 120 2001 2004 2005 2006 2007 2008 2009 2010 2011 2012 Jul-16 Oct-16 Jan-18 Mar-18 2021 2023 2024 2025 2026 2001 - Cimentas AS and Cimbeton AS 200
Slide 17: Türkiye historical figures
Türkiye historical figures Türkiye - Cement Market (Mt) * EDIRNE (x6) IZMIR ELAZIG Grey cement plant (3) Waste (1) RMC (23) Quarries (18) Türkiye – EBITDA evolution ** Hyperinflation years 3,564 TRY million 2,566 1,884 552 149 72 107 165 139 106 104 52 20 205 -54 EUR million PEAK TROUGH 83.5 72.1 73
Slide 18: Disclaimer and Other information
Disclaimer and Other information This presentation has been prepared by and is the sole responsibility of Cementir Holding N.V. (the “Company”) for the sole purpose described herein. In no case may it or any other Investor Relations: statement (oral or otherwise) made at any time in connection herew