Report
Jean-Baptiste Rouphael ...
  • Sven Edelfelt

HeidelbergCement : The only limit to our success today will be our doubts

>A broadly more ambitious strategy - Yesterday, HeidelbergCement held a sustainability CMD and updated the 2025 targets unveiled in 2020. The group is aiming for sales growth of 5% (essentially prices), and an EBITDA margin of 20-22% vs 22% previous (inflation effects) out to 2025, a ROCE clearly above 10% (vs 8%), net debt/EBITDA leverage still between 1.5x and 2.5x, gradual growth in the dividend, a possible share buyback if activity holds up and a cash conversion r...
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
Jean-Baptiste Rouphael

Sven Edelfelt

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