Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

HEIDELBERGCEMENT AG

(HEI)
  Report
Real-time Estimate Tradegate  -  11:46 2022-12-07 am EST
51.05 EUR   -0.84%
12/05HEIDELBERG MATERIALS : Jefferies reiterates its Neutral rating
MD
11/24Focus On Circularity : Heidelberg Materials acquires leading recycling company in the German capital Berlin
PU
11/24HeidelbergCement AG agreed to acquire RWG Germany GmbH from ADCURAM Group AG.
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Heidelberg Materials may shut plants if power prices stay high

09/27/2022 | 12:59pm EST

HEIDELBERG, Germany (Reuters) - Heidelberg Materials, the world's second-largest cement maker, may have to shut down plants in Germany if power prices remain at elevated levels, its chief executive said, heaping pressure on the government to put a cap on prices.

"If power prices won't come down sustainably, we would have to take individual plants in Germany completely off the grid. That's what we have prepared for," Dominik von Achten said on Tuesday.

The company, formerly known as HeidelbergCement, is shifting production to days when power prices are lower, including during the weekend, von Achten told reporters, saying this was a testament to workers' flexibility.

That would require staff at some of its European sites not to come into work during the working week, von Achten said, adding this required ongoing discussions with labour unions.

Heidelberg Materials expects its energy bill to climb by around 1 billion euros ($960 million) in 2022, up from 2.1 billion last year, Chief Financial Officer Rene Aldach said.

To soften the blow, von Achten called for a cap on gas and power prices to protect jobs and production.

($1 = 1.0417 euros)

(Reporting by Christoph Steitz; Editing by Tom Sims and Mark Potter)


ę Reuters 2022
All news about HEIDELBERGCEMENT AG
12/05HEIDELBERG MATERIALS : Jefferies reiterates its Neutral rating
MD
11/24Focus On Circularity : Heidelberg Materials acquires leading recycling company in the Germ..
PU
11/24HeidelbergCement AG agreed to acquire RWG Germany GmbH from ADCURAM Group AG.
CI
11/21HEIDELBERG MATERIALS : Barclays keeps a Sell rating
MD
11/16Switzerland's Sika Shortlists Bidders For Admixture Operations
MT
11/16HEIDELBERG MATERIALS : UBS reaffirms its Buy rating
MD
11/10Heidelbergcement : Supplement - C-028286
PU
11/08HEIDELBERG MATERIALS : Gets a Neutral rating from JP Morgan
MD
11/07Dd : HeidelbergCement AG: Spohn Cement Beteiligungen GmbH, Lending of 500,000 shares until..
EQ
11/07Dd : HeidelbergCement AG: Spohn Cement Beteiligungen GmbH, Lending of 2,500,000 shares unt..
EQ
More news
Analyst Recommendations on HEIDELBERGCEMENT AG
More recommendations
Financials
Sales 2022 20 946 M 22 035 M 22 035 M
Net income 2022 1 451 M 1 527 M 1 527 M
Net Debt 2022 5 122 M 5 388 M 5 388 M
P/E ratio 2022 6,61x
Yield 2022 4,99%
Capitalization 9 905 M 10 420 M 10 420 M
EV / Sales 2022 0,72x
EV / Sales 2023 0,69x
Nbr of Employees 52 350
Free-Float 46,1%
Chart HEIDELBERGCEMENT AG
Duration : Period :
HeidelbergCement AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HEIDELBERGCEMENT AG
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 51,48 €
Average target price 53,97 €
Spread / Average Target 4,83%
EPS Revisions
Managers and Directors
Ralph Dominik von Achten Chairman-Management Board
RenÚ Samir Aldach Chief Financial Officer
Bernhard Scheifele Chairman-Supervisory Board
Wolfgang Dienemann Director-Global Research & Development
Andreas Schnurr Director-Group Human Resources & Compliance
Sector and Competitors
1st jan.Capi. (M$)
HEIDELBERGCEMENT AG-13.51%10 420
CRH PLC-17.31%29 450
ULTRATECH CEMENT LIMITED-4.60%25 333
VULCAN MATERIALS COMPANY-14.27%23 651
MARTIN MARIETTA MATERIALS, INC.-19.81%21 731
GRASIM INDUSTRIES LIMITED12.56%14 548