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

2 directors bought

Two Directors at Heidelbergcement Ag bought 13,000 shares at between 62.960EUR and 65.000EUR. The significance rating of the trade was 100/100. 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 listi...

Kristoffer Inton

Morningstar | Margins Contract More Than We Expected in HeidelbergCement’s 3Q; Reducing Fair Value Estimate

After HeidelbergCement issued a profit warning a month ago, the company reported third-quarter earnings on Nov. 8. Driven by rising energy costs, HeidelbergCement’s operating EBITDA fell 2% to a little over EUR 1 billion. Cement operating EBITDA margins contracted nearly 250 basis points, a much larger decline than we had anticipated. As a result, we’ve further cut our full-year EBITDA forecast. Although cement producers can generally pass costs on to customers, price increases tend to lag, which means that margin compression is likely to linger in the near term. In addition to lower margins, ...

Kristoffer Inton

Morningstar | Margins Contract More Than We Expected in HeidelbergCement’s 3Q; Reducing Fair Value Estimate. See Updated Analyst Note from 09 Nov 2018

After HeidelbergCement issued a profit warning a month ago, the company reported third-quarter earnings on Nov. 8. Driven by rising energy costs, HeidelbergCement’s operating EBITDA fell 2% to a little over EUR 1 billion. Cement operating EBITDA margins contracted nearly 250 basis points, a much larger decline than we had anticipated. As a result, we’ve further cut our full-year EBITDA forecast. Although cement producers can generally pass costs on to customers, price increases tend to lag, which means that margin compression is likely to linger in the near term. In addition to lower margins, ...

Kristoffer Inton

Margins Contract More Than We Expected in HeidelbergCement’s 3Q; Reducing Fair Value Estimate

After HeidelbergCement issued a profit warning a month ago, the company reported third-quarter earnings on Nov. 8. Driven by rising energy costs, HeidelbergCement’s operating EBITDA fell 2% to a little over EUR 1 billion. Cement operating EBITDA margins contracted nearly 250 basis points, a much larger decline than we had anticipated. As a result, we’ve further cut our full-year EBITDA forecast. Although cement producers can generally pass costs on to customers, price increases tend to lag, whic...

Nurhayati Wan

Heidelberg Cement

Remi Ramadou

HEIDELBERGCEMENT- 4Q17 - Strong results enable meeting of FY guidance

HeidelbergCement (‘HC’), the German cement maker, has published solid 4Q17 results on the back of good sales volume and pricing momentum in key countries, plus sizeable synergies with Italcementi. LFL sales were up 5.2% yoy to €4.26bn in Q4 and LFL EBITDA increased by a high 16% to €890m, above the market consensus (€862m).

HeidelbergCement AG: Strong synergy delivery enables HC to achieve the lower end of its 2017 earnings guidance

HC achieves the lower end of its 2017 earnings guidance despite cost inflation and mixed market conditions

HeidelbergCement AG: HeidelbergCement extends RCF at low cost, a credit positive

HeidelbergCement achieves strong pricing on new RCF

HeidelbergCement AG - September 2017 (LTM): Peer Snapshot

Peer Snapshot: HeidelbergCement AG - September 2017 (LTM) 21 December 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Sep-17

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

Morningstar | Margins Contract More Than We Expected in HeidelbergCement’s 3Q; Reducing Fair Value Estimate

After HeidelbergCement issued a profit warning a month ago, the company reported third-quarter earnings on Nov. 8. Driven by rising energy costs, HeidelbergCement’s operating EBITDA fell 2% to a little over EUR 1 billion. Cement operating EBITDA margins contracted nearly 250 basis points, a much larger decline than we had anticipated. As a result, we’ve further cut our full-year EBITDA forecast. Although cement producers can generally pass costs on to customers, price increases tend to lag, which means that margin compression is likely to linger in the near term. In addition to lower margins, ...

Kristoffer Inton

Morningstar | Margins Contract More Than We Expected in HeidelbergCement’s 3Q; Reducing Fair Value Estimate. See Updated Analyst Note from 09 Nov 2018

After HeidelbergCement issued a profit warning a month ago, the company reported third-quarter earnings on Nov. 8. Driven by rising energy costs, HeidelbergCement’s operating EBITDA fell 2% to a little over EUR 1 billion. Cement operating EBITDA margins contracted nearly 250 basis points, a much larger decline than we had anticipated. As a result, we’ve further cut our full-year EBITDA forecast. Although cement producers can generally pass costs on to customers, price increases tend to lag, which means that margin compression is likely to linger in the near term. In addition to lower margins, ...

Kristoffer Inton

Margins Contract More Than We Expected in HeidelbergCement’s 3Q; Reducing Fair Value Estimate

After HeidelbergCement issued a profit warning a month ago, the company reported third-quarter earnings on Nov. 8. Driven by rising energy costs, HeidelbergCement’s operating EBITDA fell 2% to a little over EUR 1 billion. Cement operating EBITDA margins contracted nearly 250 basis points, a much larger decline than we had anticipated. As a result, we’ve further cut our full-year EBITDA forecast. Although cement producers can generally pass costs on to customers, price increases tend to lag, whic...

Sven Edelfelt ...
  • Virginie Rousseau

HeidelbergCement : Q3 marked by fresh initiatives

>EBITDA short of expectations (pre-profit warning) - HeidelbergCement has reported Q3 2018 EBITDA short of the consensus and our forecasts. But these forecasts date from before the profit warning on 18 October (see flash “Buy two, get one free! ”). EBITDA totalled € 1,039m vs € 1,076m for the consensus, i.e. 3.4% below the consensus (+2.2% l-f-l). In Q3, the group chalked up a good level of volume growth in its main businesses (cement: 5.9%, aggregates: 1.3%, RMC: 4.8...

Sven Edelfelt ...
  • Virginie Rousseau

HeidelbergCement : T3 sous le signe de nouvelles initiatives

>EBITDA en dessous des attentes (pre-profit warning) - HeidelbergCement a publié un EBITDA T3 2018 en dessous du consensus et de nos attentes. Attention toutefois, ces prévisions dataient d’avant le profit warning du 18/10 (cf flash « Pour l’achat d’une paire d’actions, la troisième est offerte ! »). L’EBITDA ressort à 1 039 M€ vs 1 076 M€ pour le consensus, soit 3.4% en dessous du consensus (+2.2% à pcc). Au T3, le groupe a enregistré une bonne croissance des volumes...

2 directors bought

Two Directors at Heidelbergcement Ag bought 13,000 shares at between 62.960EUR and 65.000EUR. The significance rating of the trade was 100/100. 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 listi...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/08/2018

A few weeks after the French government officially mandated advisers to work on EDF’s “architecture”, we provide an update on the main scenarios and their financial consequences. Our status-quo approach gives a valuation of between € 18.0 (+20%) and € 19.2 (+28%), depending on the outcome of the Multiannual Energy Plan (MEP). Under alternative scenarios, with total regulation of the nuclear sector or segregation of nuclear power, our valuation ranges from € 22.5 (+50%) to € 24.0 (+71%...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/11/2018

Quelques semaines après que l’Etat ait officiellement mandaté des conseils pour travailler sur « l’architecture d’EDF », nous revenons sur les principales hypothèses d’évolution et leurs conséquences financières. Notre approche statu quo nous amène à une valorisation du titre entre 18.0 € (+20%) et 19.2 € (+28%), en fonction de la PPE, tandis que les hypothèses alternatives, avec régulation totale du nucléaire ou sanctuarisation du nucléaire, la porterait entre 22.5 € (+50%) et 24.0 €...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/30/2018

For the moment, 5G has generated more anxiety than real enthusiasm among investors. Our analysis suggests a smooth transition for capex, but that the incident with the spectrum auctions might weigh on sentiment. We favour the German market if the absence of a fourth player is confirmed on 26 November. Deutsche Telekom (Buy, target price € 17.7) is our Top Pick. Cf. sector report published last evening. - ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/10/2018

La 5G génère pour l’heure plus d’anxiété qu’un réel engouement auprès des investisseurs. Notre analyse nous conduit à penser que la transition se fera en douceur sur les Capex mais que l’épisode des enchères de spectre risque de peser sur le sentiment. Nous privilégions l’Allemagne si le 26/11 confirme l'absence de 4e acteur. Deutsche Telekom (Achat, OC 17.7 €) est notre top pick. Cf.étude publiée hier soir. - ...

Aurelien Sivignon ...
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Michael Foundoukidis
  • Nicolas David
  • Salma Bouraoui
  • Sven Edelfelt
  • Team Pharma
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 10/26/2018 Date Performance since listing Date Performance since listing

...

Nurhayati Wan

Heidelberg Cement

Nurhayati Wan

Heidelberg Cement

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Nurhayati Wan

Heidelberg Cement

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Nurhayati Wan

Heidelberg Cement

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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...

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​

Valérie GASTALDY

Short term view - HEIDELBERGCEMENT AG : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €64.70. The next target is at €57.20, then €53.04. Passing €64.70 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - HEIDELBERGCEMENT AG : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 64,70 € prochainement. Le prochain objectif est à 57,20 €, puis 53,04 €. Le franchissement de 64,70 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Short term view - HEIDELBERGCEMENT AG : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €57.20. The background trend would be questioned should prices rise above €64.70.

Valérie GASTALDY

Analyse court terme - HEIDELBERGCEMENT AG : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 57,20 €. La tendance de fond serait remise en cause en cas de franchissement de 64,70 €.

Jérôme VINERIER

Analyse moyen terme - HEIDELBERGCEMENT AG : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 56,00 €, puis 49,20 €. Le franchissement de 77,00 € remettrait en cause la suite de la baisse.

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