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Economic analysis of the European cement industry

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  • Marcel Boyer
  • Jean-Pierre Ponssard

Abstract

We present a methodology to assess the profitability of a capital intensive industry over a business cycle and to make projections of profitability for different investment strategies under various hypothetical scenarios for environmental and competition policies. The methodology is applied to the European cement industry over the period 2004©\2012 (Part I) and over the next 10/15 years (Part II) using publicly available data, interviews of financial analysts and industry experts. Nous développons une méthodologie pour évaluer la performance financière ex-post d'un secteur à forte intensité en capital lors d'un cycle économique et étudier la rentabilité future de différentes stratégies d'investissements face à différentes politiques de concurrence et environnementale. Cette méthodologie est appliquée au secteur cimentier en Europe respectivement pour la période 2004-2012 (Partie I) et pour les 10/15 prochaines années (Partie II). Les résultats s'appuient sur des données publiques et sur des interviews d'analystes financiers et d'experts du secteur

Suggested Citation

  • Marcel Boyer & Jean-Pierre Ponssard, 2013. "Economic analysis of the European cement industry," CIRANO Working Papers 2013s-47, CIRANO.
    • Handle: RePEc:cir:cirwor:2013s-47
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    File URL: https://cirano.qc.ca/files/publications/2013s-47.pdf
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    Cited by:

    1. Frédéric Branger & Jean-Pierre Ponssard & Oliver Sartor & Misato Sato, 2015. "EU ETS, Free Allocations, and Activity Level Thresholds: The Devil Lies in the Details," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 2(3), pages 401-437.
    2. Branger, Frédéric & Quirion, Philippe, 2015. "Reaping the carbon rent: Abatement and overallocation profits in the European cement industry, insights from an LMDI decomposition analysis," Energy Economics, Elsevier, vol. 47(C), pages 189-205.
    3. Cancio Díaz, Yudiesky & Sánchez Berriel, Sofia & Heierli, Urs & Favier, Aurélie R. & Sánchez Machado, Inocencio R. & Scrivener, Karen L. & Martirena Hernández, José Fernando & Habert, Guillaume, 2017. "Limestone calcined clay cement as a low-carbon solution to meet expanding cement demand in emerging economies," Development Engineering, Elsevier, vol. 2(C), pages 82-91.
    4. Akhil Kunche & Bożena Mielczarek, 2021. "Application of System Dynamic Modelling for Evaluation of Carbon Mitigation Strategies in Cement Industries: A Comparative Overview of the Current State of the Art," Energies, MDPI, vol. 14(5), pages 1-22, March.
    5. Allevi, E. & Conejo, A.J. & Oggioni, G. & Riccardi, R. & Ruiz, C., 2018. "Evaluating the strategic behavior of cement producers: An equilibrium problem with equilibrium constraints," European Journal of Operational Research, Elsevier, vol. 264(2), pages 717-731.

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