HeidelbergCement AG,

HeidelbergCement is engaged in the production and distribution of cement and aggregates, concrete and building products. Co.'s product range is complemented by downstream activities, such as ready-mixed concrete, concrete products, and concrete elements; in some countries, asphalt and building products, such as bricks and roof tiles, lime, or sand-lime bricks, are also manufactured. Furthermore, Co. provides services such as worldwide trading in cement and coal by sea. Co.'s products are used for the construction of houses, infrastructure, and commercial and industrial facilities.
  • Ticker604700
  • ISINDE0006047004
  • SectorConstruction & Materials
  • CountryGermany

Analysts

Laurent ALBIE

Short term view - HEIDELBERGCEMENT AG : The 38% retracement is causing the bounce.

In our previous short term analysis (13/09/2016), we were positive. We remain positive with a target at 88,1 € and an invalidation level at 82 €. The bullish trend unfolds. Arguments : - The 38% retracement is causing the bounce. - The rising moving average confirms our...

Laurent ALBIE

Analyse court terme - HEIDELBERGCEMENT : Le retracement de 38% est atteint, il cause le rebond.

Lors de notre dernière analyse court terme (13/09/2016), nous avions opté pour un avis positif. Nous restons positif avec un objectif à 88,1 € et un niveau d'invalidation à 82 €. La tendance haussière se poursuit. Arguments : - Le retracement de 38% est atteint, il cause le...

Kristoffer Inton

HeidelbergCement Steady During Third Quarter; Shares Price in Meaningful Performance Acceleration

HeidelbergCement completed the acquisition of Italcementi and now holds 100% of its former competitor as of Oct. 12. Performance of the newly combined company continued to improve at a steady pace during the third quarter. On a like-for-like basis, cement volumes grew at roughly 5% over the prior year quarter, while contraction in aggregates and weak growth in ready mix concrete was offset by strong volume growth in asphalt. As a result, revenue was roughly flat over the third quarter of 2015. H...

Kristoffer Inton

Increasing HeidelbergCement’s Fair Value Estimate Under Our Enhanced Cement Forecast

We’re introducing an enhanced methodology to forecast cement demand. Previously, we relied on the International Monetary Fund's forecasts for fixed-asset investment, or FAI, spending as an indicator for cement demand. However, this fails to account for declining cement intensity (cement demand per FAI dollar) as a country’s income rises, as investment spending shifts from roads and structures to equipment and technology. We now use a formula that takes into account three important factors for ce...

Laurent ALBIE

Short term view - HEIDELBERGCEMENT AG : The support is close.

In our previous short term analysis (13/09/2016), we were positive. We remain positive with a target at 96,61 € and an invalidation level at 82 €. The invalidation level is close, but it has not yet been triggered. We remain positive. Arguments : - The support is close. -...

Remi Ramadou

HeidelbergCement 1Q17 - Mixed winter quarter but catch-up expected and guidance reaffirmed

HeidelbergCement (‘HC’), the German cement maker, published mixed results in the seasonally weak Q1. On a like-for-like basis, sales were stable yoy at €3.78bn while EBITDA was down 3.4% to €383m,...

HeidelbergCement AG: Update to Discussion of Key Credit Factors

CORPORATES CREDIT OPINION 19 June 2017 Update RATINGS HeidelbergCement AG Domicile Germany Long Term Rating Baa3 Type LT Issuer Rating - Fgn Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Stanislas Duquesnoy 49-69-70730-781 VP-Sr Credit Officer stanislas.duques

HeidelbergCement AG: Moody's comments on the acquisition of Cementir Italia

CORPORATES ISSUER COMMENT 21 September 2017 Contacts Anke Rindermann 49-69-70730-788 Associate Managing Director [email protected] Taisiia Alieksieienko 49-69-70730-707 Associate Analyst [email protected] Stanislas Duquesnoy 49-69-70730-781 VP-Sr Credit Officer [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-

HeidelbergCement AG: Solid Q3 results and full year 2017 guidance confirmed

CORPORATES ISSUER COMMENT 9 November 2017 Contacts Taisiia Alieksieienko +49.69.7073.0707 Associate Analyst [email protected] Matthias Hellstern +49.69.7073.0745 MD-Corporate Finance [email protected] Stanislas Duquesnoy +49.69.7073.0781 VP-Sr Credit Officer [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-

HeidelbergCement AG: Key Facts and Statistics - 9M September 2017

CORPORATES ISSUER PROFILE 21 December 2017 TABLE OF CONTENTS Company overview 1 Business description 2 Management strategy 4 Financial highlights 6 Capital structure and debt maturity 8 Company management 9 Ownership structure 10 Peer group 10 Subsidiaries rated by Moody’s 11 Related websites and information

Kristoffer Inton

HeidelbergCement Steady During Third Quarter; Shares Price in Meaningful Performance Acceleration

HeidelbergCement completed the acquisition of Italcementi and now holds 100% of its former competitor as of Oct. 12. Performance of the newly combined company continued to improve at a steady pace during the third quarter. On a like-for-like basis, cement volumes grew at roughly 5% over the prior year quarter, while contraction in aggregates and weak growth in ready mix concrete was offset by strong volume growth in asphalt. As a result, revenue was roughly flat over the third quarter of 2015. H...

Kristoffer Inton

Increasing HeidelbergCement’s Fair Value Estimate Under Our Enhanced Cement Forecast

We’re introducing an enhanced methodology to forecast cement demand. Previously, we relied on the International Monetary Fund's forecasts for fixed-asset investment, or FAI, spending as an indicator for cement demand. However, this fails to account for declining cement intensity (cement demand per FAI dollar) as a country’s income rises, as investment spending shifts from roads and structures to equipment and technology. We now use a formula that takes into account three important factors for ce...

Kristoffer Inton

HeidelbergCement’s Footprint Delivers Mixed Results in 2016; We Expect to Maintain Our Fair Value

HeidelbergCement reported preliminary results for 2016 that reflected varied performance across the company's footprint, similar to what we’ve seen throughout the year. For the full year, like-for-like companywide cement volume grew just 2% and aggregates volume remained relatively flat. These muted results are somewhat common among the global cement producers given the discrepancy in construction demand strength across global markets. For example, while North America continued to see double-dig...

Kristoffer Inton

Trimming HeidelbergCement’s FVE After Release of Full-Year Results; Shares Look Fairly Valued

Following up its release of preliminary results last month, HeidelbergCement released full results for 2016. With most operating results already disclosed, this release largely provided details on the company’s financial statements and allows us to properly update our model. Nevertheless, our long-term outlook remains largely unchanged. As detailed in our November 2016 Basic Materials Observer, “Global Cement Outlook: Geographic Mix Makes Cemex Our Top Pick,” we believe that growth among global ...

Kristoffer Inton

Few Surprises in HeidelbergCement’s First Quarter; We Don’t See Much Upside from Here

HeidelbergCement reported mild first-quarter results, as the continued stellar performance in North America and a turnaround in Europe was offset by challenges in Asia and Africa-Eastern Mediterranean Basin. Companywide operating EBITDA declined more than 3% on a like-for-like basis amid flat revenue. This quarter’s results remind us the challenges that come with the diversification of a global footprint. Nevertheless, we’re encouraged the company’s progress on headcount reduction and synergy re...

1 director bought

A director at Heidelbergcement Ag bought 3,700 shares at 68.235EUR and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

Christophe-Raphaël Ganet ...
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Léopold Authié
  • Matthias Desmarais
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/07/2018

...

Christophe-Raphaël Ganet ...
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Léopold Authié
  • Matthias Desmarais
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/05/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean-François Granjon
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Nicolas Kieffer
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Salma Bouraoui
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Thomas Zlowodzki
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/07/2018

Quels titres favoriser pour l’été ? Nous avons tenté de répondre à cette question en criblant sur des critères simples le Stoxx 600 : acheter les titres qui connaissent une dynamique de révision de BPA positive à 1m, 3m et 6m et qui ne sont pas « chers » (prime maximale de 20% en P/E et P/B) par rapport à leurs secteurs de rattachement respectifs. Nous retenons les titres recommandés à l’Achat par nos analystes et pour lesquels notre chartiste (R. Colombero) a une opinion positive : A...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean-François Granjon
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Nicolas Kieffer
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Salma Bouraoui
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Thomas Zlowodzki
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/27/2018

Which stocks should be picked over the summer? We have sought to answer this question by screening the Stoxx 600 using simple criteria: buy stocks with positive 1m, 3m and 6m EPS revision and that are not expensive (maximum premium of 20% on P/E and P/B) relative to their respective sectors. We have selected stocks on which our analysts have Buy recommendations and our chart analyst (Rémy Colombero) has a positive opinion: Ahold, Aegon, Alten, Arkema, Eiffage and Ipsen. Applying a sym...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/07/2018

...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Nurhayati Wan

Heidelberg Cement

null

Nurhayati Wan

Heidelberg Cement

null

Nurhayati Wan

Heidelberg Cement

null

Nurhayati Wan

Heidelberg Cement

null

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 10/05/2017

Item 5: Ernst & Young, Stuttgart, is proposed as auditor for the current financial year. Ratio of non-audit/audit fees was 67.39% during the year under review and 68.64% over a three-year aggregate period which exceeds our guidelines. Furthermore, we note that Ernst & Young has audited the Company since at least the financial year 2000 (no earlier data available) which exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of Ernst & Young as auditor​

HEIDELBERGCEMENT – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

HeidelbergCement - AGM 09 May 2019

Item 5: Ernst & Young, Stuttgart, is proposed as auditor for the current financial year. We have no concerns over the ratio of non-audit/audit fees. However, we note that Ernst & Young has audited the Company since the financial year 1948 which significantly exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of Ernst & Young as auditor. Items 6a, 6b, 6c and 6e: We recommend to oppose the re-election of Fritz-Jürgen Heckmann, Ludwig Merckle, Tobias Merckle and Prof. Dr. Marion Weissenberger-Eibl to the Supervisory Board due to our concerns over the ...

Laurent ALBIE

Short term view - HEIDELBERGCEMENT AG : The 38% retracement is causing the bounce.

In our previous short term analysis (13/09/2016), we were positive. We remain positive with a target at 88,1 € and an invalidation level at 82 €. The bullish trend unfolds. Arguments : - The 38% retracement is causing the bounce. - The rising moving average confirms our...

Laurent ALBIE

Analyse court terme - HEIDELBERGCEMENT : Le retracement de 38% est atteint, il cause le rebond.

Lors de notre dernière analyse court terme (13/09/2016), nous avions opté pour un avis positif. Nous restons positif avec un objectif à 88,1 € et un niveau d'invalidation à 82 €. La tendance haussière se poursuit. Arguments : - Le retracement de 38% est atteint, il cause le...

Laurent ALBIE

Short term view - HEIDELBERGCEMENT AG : The support is close.

In our previous short term analysis (13/09/2016), we were positive. We remain positive with a target at 96,61 € and an invalidation level at 82 €. The invalidation level is close, but it has not yet been triggered. We remain positive. Arguments : - The support is close. -...

Laurent ALBIE

Analyse court terme - HEIDELBERGCEMENT : Le support est proche.

Lors de notre dernière analyse court terme (13/09/2016), nous avions opté pour un avis positif. Nous restons positif avec un objectif à 96,61 € et un niveau d'invalidation à 82 €. Le seuil d'invalidation est proche, mais il n'est pas encore déclénché, nous conservons notre avis....

Valérie GASTALDY

Analyse moyen terme - HEIDELBERGCEMENT AG : Le support majeur n'est pas atteint.

La tendance est toujours haussière mais elle a ralenti. Son niveau d'invalidation est sous 77,180 €. L'objectif est à 95,000 €.Arguments :- Le support majeur n'est pas atteint.- Le RSI présente une divergence baissière.- La moyenne mobile sert de support.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch