Q2 2024 Grupo Comercial Chedraui SAB de CV Earnings Call Transcript
Key Points
- Grupo Comercial Chedraui SAB de CV (GCHEF) achieved a 37.1% EBITDA margin for the second quarter, reflecting strong cost discipline.
- The company reported a 1% year-on-year increase in EBITDA despite a 1% decrease in sales.
- Safety initiatives led to a 14% year-on-year decrease in recordable injuries, showcasing a strong commitment to employee safety.
- The company made significant progress in sustainability, including a 2.5% year-to-date decrease in CO2 gross intensity per tonne of cementitious material.
- Grupo Comercial Chedraui SAB de CV (GCHEF) secured a term loan agreement to enhance distribution capabilities in the Salt Lake City region, strengthening its market position.
- Second quarter sales decreased by 1%, reflecting a challenging demand environment.
- US cement and concrete volumes decreased by 7.1% and 14.3%, respectively, due to adverse weather and economic factors.
- Mexico sales decreased by 2.8% year-over-year, with cement and concrete volumes down by 7.1% and 12.4%, respectively.
- The mining segment in Mexico continues to contract, with no significant improvement expected until 2026.
- The company anticipates that US cement and Mexico concrete volumes will finish the year either flat or with a slight decrease.
Good morning, and welcome to GCC's Second Quarter 2024 earning conference Results Earnings Results Conference Call. Before we begin, I would like to remind you that this call is being recorded and that all participants will be in a listen only.
Please also note that a slide presentation accompanies today's webcast. The link is available on the company's IR website at GCC.com. I would now like to turn the call over to Mr. Hori associate, Head of Investor Relations. Please go ahead.
Good morning, everyone, and thank you for joining with me today are Mr. Enrique Escalante, our Chief Executive Officer, and Michael Strecker, Chief Financial Officer. The earnings release detailing this quarter's results was released yesterday after market close and is available on GCC's IR website. This conference call is also being broadcast live within the investors section at DCC.com. And both the webcast replay of the call and transcript will be available on the same site approximately one hour after
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