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

Alex Koagne ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/29/2018

...

Alex Koagne ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/11/2018

...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Building France: no trend reversal in October

>Negative stock-market impact - Figures down in October in both the residential and non-residential segments. The residential segment continues to slow. In the non-residential segment, building starts and building permits continued to fall on a rolling three-month basis. That said, unlike building permits, over twelve months rolling, new building starts in the non-residential segment are still on an uptrend (+4.1%). For 2018, the non-residential and public works segme...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Bâtiment France : octobre, pas d’inversement de tendance

>Impact boursier négatif - Chiffres en baisse en octobre dans le résidentiel et dans le non résidentiel. Le ralentissement dans le résidentiel continue. Les mises en chantier et les permis de construire dans le non résidentiel sont à nouveau en forte baisse sur trois mois glissants. Cependant, contrairement aux permis de construire, sur 12 mois glissants, les mises en chantier dans le non résidentiel s’affichent encore en hausse (+4.1%). Pour 2018, le segment non...

Alex Koagne ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/19/2018

...

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

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Building France: no trend reversal in October

>Negative stock-market impact - Figures down in October in both the residential and non-residential segments. The residential segment continues to slow. In the non-residential segment, building starts and building permits continued to fall on a rolling three-month basis. That said, unlike building permits, over twelve months rolling, new building starts in the non-residential segment are still on an uptrend (+4.1%). For 2018, the non-residential and public works segme...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Bâtiment France : octobre, pas d’inversement de tendance

>Impact boursier négatif - Chiffres en baisse en octobre dans le résidentiel et dans le non résidentiel. Le ralentissement dans le résidentiel continue. Les mises en chantier et les permis de construire dans le non résidentiel sont à nouveau en forte baisse sur trois mois glissants. Cependant, contrairement aux permis de construire, sur 12 mois glissants, les mises en chantier dans le non résidentiel s’affichent encore en hausse (+4.1%). Pour 2018, le segment non...

Sven Edelfelt ...
  • Virginie Rousseau

HeidelbergCement : A quality company, buy the dip

>Feedback from the roadshow with the CFO in Paris - We organised a road show in Paris with Dr. Lorenz Näger (CFO), Andreas Schaller (Director of Communication and IR) and Piotr Jelitto (IR).The company had a confident and cautiously optimistic message following the profit warning (18/10); favourable comps for the next few quarters, energy costs seen remaining high in 2019 and the capital allocation strategy might lead to share buybacks (mid-2019).For...

Sven Edelfelt ...
  • Virginie Rousseau

HeidelbergCement : A quality company, buy the dip

>Feedback from the roadshow with the CFO in Paris - We organised a road show in Paris with Dr. Lorenz Näger (CFO), Andreas Schaller (Director of Communication and IR) and Piotr Jelitto (IR).The company had a confident and cautiously optimistic message following the profit warning (18/10); favourable comps for the next few quarters, energy costs seen remaining high in 2019 and the capital allocation strategy might lead to share buybacks (mid-2019).For...

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, ...

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 ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/29/2018

...

Alex Koagne ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/11/2018

...

Alex Koagne ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/19/2018

...

Alex Koagne ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/11/2018

...

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%...

Nurhayati Wan

Heidelberg Cement

Nurhayati Wan

Heidelberg Cement

Nurhayati Wan

Heidelberg Cement

Nurhayati Wan

Heidelberg Cement

Nurhayati Wan

Heidelberg Cement

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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