Morningstar - ADBRI Limited (ABC) Adelaide Brighton Secures South Australian Energy Supply, but Remains Overvalued

Report

Morningstar

Adam Fleck

EUR 101.80 For Business Accounts Only

Adelaide Brighton Secures South Australian Energy Supply, but Remains Overvalued

Narrow-moat-rated Adelaide Brighton continues to reap the benefits of its exposure to Australian construction. The firm has announced steps to remediate inflated energy costs, which were cited as a headwind to first-half margins, signing gas and electricity contracts for its South Australian operations with Beach Energy and Infigen Energy. While the fundamentals for Adelaide Brighton remain attractive, investors appear to be overestimating the earnings leverage to infrastructure growth. We retai...

22/12/2017 13 EN

Underlying

ADBRI Limited

Adelaide Brighton is an integrated construction materials and industrial lime producer which supplies a range of products into building, construction, infrastructure and mineral processing markets throughout Australia. Co.'s principal activities include the production, importation, distribution and marketing of clinker, cement, industrial lime, premixed concrete, construction aggregates and concrete products. In addition to domestic production, Co. is the importer of cement, clinker and slag into Australia.

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AU000000ABC7 Australian Securities Exchange Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Adam Fleck

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Adelaide Brighton Secures South Australian Energy Supply, but Remains Overvalued

Adbri Ltd: 1 director

Thanks to a better fundamental star rating, ADBRI sees an upgrade to Neutral

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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