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MarketScreener Homepage  >  Equities  >  Xetra  >  HeidelbergCement AG    HEI   DE0006047004

HEIDELBERGCEMENT AG

(HEI)
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HeidelbergCement : maintains full-year guidance despite bad weather in second-quarter

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07/30/2019 | 03:46am EDT
A logo of HeidelbergCement is pictured at their headquarters in Heidelberg

FRANKFURT (Reuters) - HeidelbergCement, the world's second-biggest cement maker, said on Tuesday that market dynamics had weakened slightly in the second quarter due to bad weather, but confirmed its full-year outlook for higher sales and profits.

Heavy rains in parts of North America and Eastern Europe led to a decline in construction activity in the April-June period, the group said.

"The generally positive market dynamics in many of HeidelbergCement's markets weakened slightly in the second quarter as a result of uncertainties regarding future economic developments and weather-related disruption in Eastern Europe and North America," the group said.

Its preliminary result from current operations before depreciation (RCOBD) came in at 1.05 billion euros (£964.12 million) in the second quarter, a like-for-like increase of 1%.

Energy costs, a major cost burden for cement makers, are expected to fall in 2019, HeidelbergCement said, maintaining its outlook for a 3-9% rise in both sales and net profit.

The company also said it was on track to reach its portfolio optimisation target of disposals worth 500 million euros by the end of the year, part of a wider programme to consolidate the business and protect profit margins.

The world's No. 1 cement maker LafargeHolcim is due to report first-half results on Wednesday.

(Reporting by Christoph Steitz and Tassilo Hummel; Editing by Michelle Martin and Susan Fenton)

Stocks mentioned in the article
ChangeLast1st jan.
HEIDELBERGCEMENT AG 0.09% 66.28 Delayed Quote.24.17%
LAFARGEHOLCIM 1.31% 49.53 Delayed Quote.22.30%
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Financials (EUR)
Sales 2019 19 144 M
EBIT 2019 2 248 M
Net income 2019 1 218 M
Debt 2019 8 576 M
Yield 2019 3,46%
P/E ratio 2019 10,9x
P/E ratio 2020 9,85x
EV / Sales2019 1,13x
EV / Sales2020 1,04x
Capitalization 13 151 M
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 76,96  €
Last Close Price 66,48  €
Spread / Highest target 44,4%
Spread / Average Target 15,8%
Spread / Lowest Target -23,9%
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Managers
NameTitle
Bernd Scheifele Chairman-Managing Board
Fritz-Jürgen Heckmann Chairman-Supervisory Board
Lorenz Näger Chief Financial Officer
Dennis Lentz Director-Group Information Technology
Josef Heumann Member-Supervisory Board
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