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🛰A tale of two giant cement producers as told by satellites… Did you know that in March 2024, satellite data show that the utilization rate at many Heidelberg Material cement facilities plunged below 50% — a five-year low (based on Kayrros figures) that the company blamed on bad weather across multiple regions? Meanwhile Holcim, another major producer, hit a similar low in March, also below 50%, presumably for the same reasons. Yet the data suggest the two companies then followed different recovery paths, with Holcim ramping back up faster and averaging higher utilization rates overall. Only last week did they converge back to the same rate, for the first time since March. It will be interesting to see when and to what extent either firm will recover from seasonal Q1 lows. Why does it matter? Utilization rates below 50% mean companies are operating at less than half capacity. Underutilized assets normally translate into lower revenue as fixed costs are spread over fewer units of production. So the ability to track industrial production and activity in near-realtime – and ahead of company reporting – can be quite material for investors. How do we do this? Kayrros uses satellite remote sensing and AI to track the heat and energy emissions of cement and steel facilities globally to quantify their daily production output. A recent peer-reviewed study in the Journal of Econometrics shows how our technology significantly outperforms benchmark models and alternative indicators. Kayrros Industrial Equity Tracker aggregates daily production data at company level. What’s our track record? Thanks to our partner Exabel we backtest our data to publicly reported company KPIs. Regarding Heidelberg Materials, Kayrros Industrial Equity Tracker achieved average accuracy of 96.7% compared to its European revenue reports over the course of the last two years. The model made four calls for a beat/miss of >3% vs. consensus, and was correct each time. Kayrros Industrial Equity Tracker provides equity investors with: • Daily P&L-related production data: Production and plant utilization metrics. • Benchmarking: Compare the productivity of public cement companies. • Outlier event detection: See if an asset has been affected by a hurricane or attack. • Proven accuracy: Outperform usual benchmark models with up to 45% more accuracy. • Global coverage: Track over 1,000 plants across key regions (and just let us know if you need additional coverage!) 👉 Read the study and explore how the Industrial Equity Tracker can give you an edge: https://lnkd.in/edBpwZS4 #earthobservation #alternativedata #satellitetechnology #tech #innovation #construction DISCLAIMER: The information provided herein does not constitute advice (including in particular investment or financial advice) and Kayrros is neither registered nor acting as a financial advisor of any kind.

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