Heidelberg, a Germany-based cement manufacturing company, represents renowned branded cement namely"RubyCement" and "ScanCement." The company produces Portland Composite Cement and Ordinary Portland Cement. In 2021, two subsidiaries of the company namely Emirates Cement and Emirates Power amalgamated with Heidelberg. With three plants in Kanchpur, Chittagong and Mukterpur, Heidelberg has a production capacity of 3.51 million metric tons per annum
* The cumulative profits of Multinational Companies (MNCs), excluding BERGERPBL, increased by c5% yoy in Jan-Mar 2023. * Consumer staple companies experienced continued growth, performing well during the quarter: * MARICO’s profit grew c. 25% this quarter because of profitability improvement driven by lower copra price and opex management * RECKITTBEN resumed topline growth and generated strong earnings growth by trimming operating expenses * All construction companies ...
* 67% yoy decline in net loss reported in Q3 CY22. EPS in Q3 CY22 stood at BDT -0.64 against BDT -1.9 in Q3 CY21. In the 9M CY22, Heidelberg reported an EPS of BDT -4.27 against BDT +9.88 in 9m CY21. * 14% yoy growth in top-line revenue reported in Q3 CY22. The growth in revenue is driven by the price hike in the cement industry. * Gross margin declined by 458bps yoy in the said quarter. Unlike LHBL BD, Heidelberg has to import the raw materials for cement manufacturing, the pric...
* HEID BD reported a net loss of BDT 38mn (EPS: BDT -0.66), against net profit of BDT 201mn (EPS: BDT 3.56) in 2Q CY 21. A 5% decline in top line revenue, 443bps contraction of gross margin and higher operating expenses are attributable to the loss reported in the quarter. * Q2 CY22 revenue declined by c5% YoY to BDT 3,888mn. In the first half of this year, the sales of the cement manufacturer went down by 3% YoY. The rise of commodity prices in the international market, especially fol...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
2Q CY 21 NPAT of BDT201mn (EPS: BDT3.56), against Net loss of BDT187mn (EPS: BDT-3.31) in 2Q CY 20. 2Q CY EPS is in line with our expectations (EPS BDT3.41). +132% yoy top-line growth, +540bps GPM expansion, 530bps improvement in opex/sales ratio, lower finance expense and tax cut (effective tax rate c15%, turnover tax 0.9%) boosted the earnings. 2Q CY 21 Revenue increased to BDT 4,097mn (+132% yoy, 43% up from 2Q CY 19) mainly driven by volume growth from govt infrastructure projects, higher...
HEID BD reported 3Q CY 20 loss of BDT27mn (EPS: BDT-0.48), against loss of BDT143mn (EPS: BDT-2.53) in 3Q CY 19. Cement sales rebound (-0.17% YoY, +42% QoQ) along with gross margin expansion (+321 bps YoY) beat our NPAT expectation of BDT-47.6mn. 9M CY 20 NPAT stood at BDT-171mn (EPS: BDT-3.02), vs 9M CY 19 NPAT of BDT9.4mn (EPS: BDT0.17). Revenue stood at BDT 2,514mn (-0.17% YoY), which can be attributed to cement sales recovery after the April-May Covid-brunt on the back of vibrant infrastr...
HEID BD reported 2Q CY 20 loss of BDT187mn (EPS: BDT-3.31), against loss of BDT41mn (EPS: BDT0.72) in 2Q CY 19. c38% YoY COVID-driven top-line decline along with lower annual gross margin (-210 bps YoY) hurt the earnings. Revenue decreased to BDT 1,766mn (-38% YoY) mainly driven by COVID-driven volume dent and lower retail price in 2Q 20. According to our market survey, per bag price for ScanCement (a brand of HEID) was BDT400-410 in May/Jun 2020 vs BDT440-450 in May/Jun 2019. 2Q CY 20 GPM st...
From 2020, oil prices started plunging from the steady level (average $55/bbl) in 2019 due to depressed energy demand from coronavirus containment efforts. After the “Black April†shock of WTI futures plunging to $-37.6/bbl, resulting from twin supply-demand shock, oil futures hovered between $20-$38 in May. Global energy demand is expected to rise from H2 20 due to worldwide relaxation of lockdown measures and oil prices to follow. However, we consider two scenarios and some sub-scenarios t...
Heidelberg Cement (HEID BD) has been demoted to “Z†category from “A†category, effective from 1 June 2020, attributed to the company’s no dividend declaration for CY 19. The company declared no yearly dividend for the first time since its enlistment in 1989. HEID BD paid BDT7.5 cash dividend in 2018. According to the Dhaka Stock Exchange (DSE) settlement and transactions regulation,companies which fail to hold its Annual General Meeting when due, or fail to declare any dividends based...
HEID BD reported 1Q CY 20 NPAT of BDT44mn (EPS: BDT0.77), implying c77% de-growth against NPAT of BDT193mn (EPS: BDT3.42) in 1Q CY 19. Increased finance expenses from loans for acquisition and investment in subsidiary eroded the quarterly profits. Higher sequential gross margin (+400 bps QoQ approx.) along with 6% YoY top-line growth kept the earnings positive. The company also posted CY 19 loss of BDT186mn (EPS: BDT-3.30), vs CY 18 NPAT of BDT810mn (EPS: BDT14.33), implying c123% de-growth. ...
HEID BD reported Q3 CY 19 loss of BDT143mn (EPS: BDT -2.53), vs a NPAT of BDT121mn (EPS: BDT2.14) in Q3 CY 18. The loss was higher than expected as gross margin nosedived to 7.3% from 15.6% in Q3 CY 18 and the company paid BDT143mn income tax denoting payment of minimum turnover tax of c5%. 9M CY 19 NPAT stood at BDT9mn (EPS: BDT0.17), versus 9M CY 18 NPAT of BDT660mn (EPS: BDT11.69).
HEID BD reported Q2 CY 19 loss of BDT41mn (EPS: BDT -0.72), vs a profit of BDT238mn (EPS: BDT4.21) in Q1 CY 18. Lower margin (-1030 bps yoy) and lower net financial income (-70% yoy) led to the poor result. H1 CY 19 NPAT stood at BDT152mn (EPS: BDT2.69), versus H1 CY 18 NPAT of BDT540mn (EPS: BDT9.55).
We reiterate our Hold recommendations on LafargeHolcim (LHBL BD) and Heidelberg (HEID BD), but revise our TPs to BDT36 (from BDT52) and BDT254 (from BDT331), respectively, suggesting an ETR for LHBL of 1.6% and for HEID of 12.2%. This reflects the impact of volume-dependent top-line growth amid ongoing price competition among the grinders. Our cautious view on the two stocks stems from continuing price competition from local grinders, the higher price of raw materials and likely pressure on volu...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.