The Q4 / second half reporting season starts on Tuesday 9 February for the nine companies that we publish forecasts for, with Buzzi and Martin Marietta being the first to announce, although Saint-Gobain pre-announced guidance on its better than expected Q4 sales and H2 EBIT on 6 January. We expect four of the nine companies…

• Summary. Q3 profits increased for 11 of the 14 largest global cement companies mainly due to lower costs which boosted margins. Votorantim (+58.5%) and Dangote (+54.3%) reported the largest EBITDA increases on a like-for-like basis, with results converted to US dollars to improve comparability. • Comparison of 14 global cement companies Q3/nine month results.…

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