HeidelbergCement : Demand slightly lacklustre in Q4 but good cash generation
>EBITDA in line with forecasts and net debt below - HeidelbergCement has reported Q4 2019 sales of € 4.578bn (FY 2019: € 18.851bn) and Q4 2019 EBITDA of € 968m. The group had already issued a preliminary release with the main data, with sales shy of forecasts (see our equity flash entitled “2019 in line, with the exception of sales!â€). In Q4, the group saw a decline in volumes in its main businesses (cement: -3% l-f-l, aggregates: -3% l-f-l, ready-mix concrete: -5% l-...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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