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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Cementir Holding N.V.    CEM   NL0013995087

CEMENTIR HOLDING N.V.

(CEM)
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EPS upgrade (2019: +86.9%, 2020: -14.3%) (Cementir Holding)

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03/24/2020 | 08:54am EDT

EPS CHANGE
CHANGE IN EPS
2020 : € 0.56 vs 0.65 -14.3%
2021 : € 0.61 vs 0.77 -20.1%

We have updated our model with the FY19 results. The company performed better than we had anticipated, especially in Turkey, where we priced in the impact of the country's economic strains and devaluation of lira too conservatively. Despite the company's great performance in 2019, we have narrowed our estimates for 2020 and 2021, due to the COVID-19 pandemic. We have only marginally reduced the EPS for 2020 and 2021 because they were already low as compared to the updated 2019 level. However, the company has not communicated anything about the impact of COVID-19, except for the fact that the operations in China are already regaining momentum. Thus, for the moment, our current assumptions are based on a wet finger approach and we will make further changes once the company communicates on the impact and possibly a fresh set of targets during Q1 20 results.


CHANGE IN DCF
€ 10.2 vs 12.0 -14.9%

Along with the change in earnings, we have increased the debt spread to 300bp. We have also changed the EBITDA growth to 1.5% from 2% in the out years because COVID-19 has added an extra layer of uncertainity to the earnings growth, on the already existent ETS Phase IV (Emission Trading Scheme) apprehension.

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Latest news on CEMENTIR HOLDING N.V.
01:23pCEMENTIR N : Credem complies with ECB recommendations on dividend distribution. ..
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04/06CEMENTIR : Information for the Shareholders' Meeting of 20 April 2020
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03/30CEMENTIR N : Credem, ECB recommendations on dividends will be discussed in the b..
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03/24CREDEM : Fitch affirmed long-term idr at ‘bbb'
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03/24EPS UPGRADE (2019 : +86.9%, 2020: -14.3%) (Cementir Holding)
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03/12CEMENTIR : Publication notice of 2019 Annual Report Italian version
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03/12CEMENTIR N : Credem, 2019 consolidated results were affirmed
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03/09CEMENTIR : Notice of call for the Shareholders' Meeting and publication of 2019 ..
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03/06FY19 : profits higher than our conservative projections (Cementir Holding)
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03/04CEMENTIR N : Fitch reviewed bank rating criteria
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More news
Financials (EUR)
Sales 2020 1 149 M
EBIT 2020 141 M
Net income 2020 89,1 M
Debt 2020 176 M
Yield 2020 2,90%
P/E ratio 2020 9,91x
P/E ratio 2021 8,22x
EV / Sales2020 0,87x
EV / Sales2021 0,73x
Capitalization 824 M
Chart CEMENTIR HOLDING N.V.
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Cementir Holding N.V. Technical Analysis Chart | MarketScreener
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Technical analysis trends CEMENTIR HOLDING N.V.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 6,30  €
Last Close Price 5,18  €
Spread / Highest target 54,4%
Spread / Average Target 21,6%
Spread / Lowest Target -7,34%
EPS Revisions
Managers
NameTitle
Francesco Caltagirone Chairman & Chief Executive Officer
Veysi Taner Aykaç President-Eastern Mediterranean Region
Paolo Zugaro Group Chief Operating Officer
Giovanni Luise Group Chief Financial Officer
Giacomo Cornetti Group Chief Information Technology Officer
Sector and Competitors
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CHINA RESOURCES CEMENT HOLDINGS LIMITED-0.21%8 548
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TAIWAN CEMENT CORP.0.88%7 427