HeidelbergCement : Q1 better than expected in the end but nothing to get excited about
>Q1 EBITDA 8.5% ahead of the consensus and guidance unchanged - HeidelbergCement reported Q1 2022 EBITDA ahead of expectations. EBITDA came in at € 394m, down 26.9% in real terms and -25.4% l-f-l (consensus at € 363m, or 8.5% ahead). For Q1, the group chalked up volume growth in its main businesses (cement: 2.1%, aggregates: 5.3% and RMC: 1.6%). At the EBITDA level, the price/cost differential came to -€ 161m in Q1 after -€ 97m in Q4, -€ 178m in Q3 and -€ 66m in Q2. ...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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