The Q1 reporting season starts on Friday (23 April) for the nine companies that we publish forecasts for. Three of them only report sales for Q1. Five report EBITDA and one reports EBIT as their main profitability measure. Q1 appears to have been a strong quarter, despite a strong comparative in Q1-2020. We have already…

Intercement and Votorantim, the two Brazilian based cement companies concluded the Q4 results season reporting on 1st and 8 April respectively. Their results were well worth waiting for, with particularly strong Q4 results from their home country Brazil where Votorantim’s EBITDA in Reals increased by 86% in Q4 on a 39% increase in sales. Even…

Margins at region and country level

Cemex, Heidelberg and Lafarge Holcim: ROCE, EBITDA margins at Group level. Separate analyses of cement and aggregates businesses profitability