EPS cut (2025: +0.7%, 2026: -25.0%) (Cementir Holding)
EPS CHANGECHANGE IN TARGET PRICE € 22.8 vs 21.3 +7.17%
Cementir's strengthening net cash position, improving operational efficiency across its diversified geographic footprint, and clear strategic visibility through its 2028 industrial plan — anchored by white cement leadership, ESG-driven innovation, and the transformative ACCSION carbon capture project — underpin our positive investment view.
CHANGE IN EPS
2026 : € 1.07 vs 1.42 -25.0%
2027 : € 1.15 vs 1.42 -19.2%
EPS Growth
Profitability improvement was driven by strong operational leverage, disciplined cost management, and the strategic disposal of underperforming assets, which collectively enhanced margins and lifted earnings per share meaningfully above the prior year. However, persistent currency headwinds across key emerging market operations, combined with softer volumes in core European markets and rising input costs, weighed on net income and exerted downward pressure on earnings per share.
CHANGE IN DCF € 26.3 vs 20.9 +26.1%
Free cash flow has expanded materially, underpinned by robust operating performance across key geographies, tighter working capital discipline, and reduced capital intensity, enabling a significant strengthening of the net cash position year-on-year.
Cementir Holding is an Italian multinational company that produces and distributes grey and white cement, ready-mix concrete, aggregates and concrete products.
AlphaValue Corporate Services capitalise on the research and credit analysis expertise deployed by AlphaValue with major institutional investors at European level over the past nine years. The proprietary tools and processes enabling AlphaValue Corporate Services to establish a valuation and/or a credit risk assessment are identical to those used by AlphaValue to the benefit of its institutional clients. The only difference is the recognition that a company evaluation cannot be dissociated from the fact that the latter is paying for the service (AlphaValue Corporate Services), as opposed to the investor footing the bill (AlphaValue). AlphaValue’s research tools are characterised by the transparency of the valuation methodologies, their responsiveness to market data and by nine years’ experience of a universe numbering more than 450 European companies. Through its coverage and sector exhaustiveness, AlphaValue ranks alongside the major research houses in Europe and constitutes the only new entrant to the European space in the past decade. This significant presence is reflected in an unrivalled distribution capability via platforms commonly adopted by investors to access research: Factset, Bloomberg, Capital IQ and the numerous websites. AlphaValue is one the largest research contributors to these platforms, to the benefit of AlphaValue Corporate Services issuer clients. The AlphaValue Corporate Services analysts are AlphaValue’s sector specialists. Their robust knowledge of the business models in their sectors enables the rapid generation of incisive, relevant research and advantageous interaction with the management teams.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.