Key Countries: US Increases to 30.4% of Global Cement Companies 2019 EBITDA

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  • For the 12 global cement companies that we follow closely the US remained the largest contributor by far to their EBITDA, significantly increasing its importance in 2019 to 30.4% (+8.2pp) of the total, reflecting both improvements in trading and changes in exchange rates.
  • India remained the second largest country increasing to 8.1% (+1.0pp) of EBITDA.
  • Mexico remained the third largest EBITDA contributor at 5.4% (-0.7pp) and Nigeria the fourth at 4.9% (-0.2pp).