Report
Chaima Ferrandon ...
  • Delphine Brault
  • Sven Edelfelt

HeidelbergCement : The ecological transition at centre stage

>The main thrusts of the strategy out to 2025 - HeidelbergCement yesterday presented its “Beyond 2020” strategy. The group is aiming for growth in the EBITDA margin of 300bp out to 2025, a ROCE clearly above 8%, a ND/EBITDA ratio of 1.5-2.5x, gradual growth in the dividend (vs a payout of 40-45% previously), a possible share buyback if activity holds up and a cash conversion rate of 45% (49% in 2019). The company plans to continue asset disposals and will not limit it...
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
Chaima Ferrandon

Delphine Brault

Sven Edelfelt

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