Heidelberg Materials : Time will tell
>Q3 in line with ad hoc results on 19 October - Our comments on the preliminary figures are contained in the flash published on 19 October. To recap, EBITDA came in 9% ahead of the consensus in the ad-hoc release, for an EBITDA margin of 24.8%, or +443bp after +60bp in Q2 and +247bp in Q1 (see tables on page 2).Although the group had already upgraded its guidance in its ad-hoc press release, management used the conference call to indicate the upper end of its gui...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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