CX · CX Q2 FY2026 earnings call record财报电话会记录

“Adjusting for the one-off, sales grew 11%, while EBITDA expanded 19%, almost twice as fast, and EBIT, a key metric of our transformation, grew 29%, almost three times the pace of sales growth.”

“EBITDA grew 18% on a like-to-like basis, driven by Project Cutting Edge efficiencies during the quarter of $60 million and organic growth in most regions.”

“Volumes were further impacted by the severe heat wave through much of Europe, which resulted in restrictions on work at construction sites in many markets.”

“EBITDA margin expanded by 2.1 percentage points, reflecting structural efficiencies, pricing discipline, and benefit from operating leverage as volumes recover in Mexico.”

“Following up on the commitment I made in our last earnings call, we are confident today in raising our overall savings target under Project Cutting Edge from $400 million to $475 million.”

“Self-construction and government-backed social programs, such as rural roads and housing, continued to underpin bagged cement demand, with bulk cement volumes largely driven by residential.”

“Adjusting for the one-off benefit, EMEA EBITDA expanded 9% with margin flat year-over-year as lower volumes weighed on results.”

“Encouragingly, our operations in Israel and the UAE remain resilient amid regional tension, with ready-mix and aggregate volumes up 14% and 5% respectively.”

“As Jaime noted, our self-help measures continue to deliver record results, with quarterly EBITDA exceeding $1 billion, EBITDA margin improving by 2.1 percentage points to its highest level since 2008, and free cash flow generation accelerating at a significant pace.”

“Based on first half performance, our expectations for the remainder of the year, and the continued contribution from Project Cutting Edge, I am confident in raising our full year EBITDA guidance to a range of 16%-17% year-over-year growth.”

“I was wondering if you could give us a sense, looking at your backlog, how confident you are that both the volume trend and the expansion in margins in Mexico is sustainable as we go into the second half and into 2027.”

“The low single-digit increase guidance implies a 4% growth in the second semester with a negative impact of around $20 million.”