2022 Half Year Results

28 July 2022

Dr. Dominik von Achten - Group CEO René Aldach - Group CFO

Key Messages Q2 2022

  • Strong pricing drives top line growth and stabilizes result: Revenue +10%; EBITDA -6%; RCO -6% *
  • Price over cost almost stable for the quarter, turned positive in the month of June
  • CO2 reduction further accelerated by around 2.5%; even before CCUS projects
  • Renewal of syndicated credit line linked to the sector's most ambitious CO2 target
  • Outlook - strong revenue growth confirmed,
    slight decrease in operating EBITDA and RCO expected for full year 2022 *

* LfL, excluding currency and scope impacts.

O P E R A T I O N A L P E R F O R M A N C E

Solid result despite a very strong comparison base

Revenue (m€)

+27.7%

LfL: +29.9%

+10.9%

LfL: +10.4%

4,980

5,523

4,324

Q2 2020

Q2 2021

Q2 2022

Operating EBITDA (m€)

+13.3%

LfL: +14.8%

-4.3%

LfL: -5.7%

1,182

1,131

998

Q2 2020

Q2 2021

Q2 2022

Operating EBITDA Margin

-262 bps

-325 bps

23.1%

23.7%

20.5%

Q2 2020

Q2 2021

Q2 2022

Operating EBIT (RCO) (m€)

+25.4%

LfL: +28.4%

-5.2%

LfL: -5.7%

862

817

651

Q2 2020

Q2 2021

Q2 2022

3

2022 Half Year Results | 28 July 2022

O P E R A T I O N A L P E R F O R M A N C E

Successful price increases drive top line growth and stabilize EBITDA & RCO

Revenue (m€)

+20.5%

LfL: +24.2%

+11.3%

LfL: +11.6%

8,938

9,950

8,254

H1 2020

H1 2021

H1 2022

Operating EBITDA (m€)

+8.6%

LfL: +11.6%

-11.4%

LfL: -11.8%

1,720

1,525

1,404

H1 2020

H1 2021

H1 2022

Operating EBITDA Margin

-168 bps

-392 bps

17.0%

19.2%

15.3%

H1 2020

H1 2021

H1 2022

Operating EBIT (RCO) (m€)

+27.8%

LfL: +33.1%

-16.3%

LfL: -15.6%

1,084

908

710

H1 2020

H1 2021

H1 2022

4

2022 Half Year Results | 28 July 2022

O P E R A T I O N A L P E R F O R M A N C E

Q2 2022 - Regional overview

Volumes

Q2 20

Q2 21

Q2 22

'22 vs '21

Successful price increases to a large extent compensate cost pressure.

LfL

North America

Cement sales volume (mt)

28.7

33.5

30.5

-6.7%

▪

Stable volume development across business lines with healthy orderbooks in all

Aggregates sales volume (mt)

74.7

83.7

79.5

-1.0%

regions.

Ready mix sales volume (mt)

11.0

12.7

11.9

-2.4%

▪ Positive pricing with further upside in the second half of the year.

▪ General inflation, increased freight rates on imports and labor disruptions put

Revenue (mEUR)

Q2 20

Q2 21

Q2 22

'22 vs '21

pressure on margin.

LfL

Europe

North America

1,216

1,269

1,300

5.9%

▪ WSE: Strong revenue growth driven by very good pricing compensates

Western & Southern Europe

1,182

1,531

1,709

11.6%

significant cost inflation.

North & Eastern Europe - C.A.

765

867

987

13.8%

▪ NEECA: Revenue increase on back of solid pricing, despite subdued volumes.

Asia Pacific

667

754

873

7.7%

Fuel and electricity costs continue to put pressure on margin.

Africa - Eastern Med. Basin

410

460

510

10.4%

Asia - Pacific

▪ Cost inflation could not be offset by price increases. Margin pressure in India

Operating EBITDA (mEUR)

Q2 20

Q2 21

Q2 22

'22 vs '21

and high coal price in Indonesia. Australia impacted by flooding on East Coast.

▪ Positive pricing momentum building across region - particularly in Indonesia,

LfL

North America

288

335

303

-10.7%

Thailand and Australia.

Africa - Eastern Mediterranean

Western & Southern Europe

244

310

336

8.2%

▪ Demand remains intact in most of Sub Sahara & North Africa offsetting market

North & Eastern Europe - C.A.

231

254

235

-7.9%

Asia Pacific

149

161

137

-21.3%

pressure in some parts of West Africa.

▪ Significant increases in the inbound freight, raw material and fuel costs to a large

Africa - Eastern Med. Basin

96

128

120

-7.5%

extend compensated by price increases.

5

2022 Half Year Results | 28 July 2022

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HeidelbergCement AG published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 05:17:05 UTC.