Report
Sven Edelfelt

HeidelbergCement : Demande un peu molle au T4 mais bonne génération de cash

>EBITDA en ligne avec les attentes et DN en dessous - HeidelbergCement a publié un CA T4 2019 de 4.578 Md€ (FY19 : 18.851 Md€) et un EBITDA T4 2019 de 968 M€. Rappelons que le groupe avait déjà publié les grandes lignes de ces résultats préliminaires compte tenu d’un CA en dessous des attentes (cf. Flash « Une année 2019 conforme, sauf sur le CA »). Au T4, le groupe a enregistré une baisse des volumes dans ses principaux métiers (ciment : -3% pcc, granulats : -3% pcc,...
Underlying
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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Sven Edelfelt

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