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HEIDELBERGCEMENT AG

(HEI)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 10/26 03:58:42 pm
64.69 EUR   +0.95%
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HeidelbergCement : Q2 2021 Prńsentation (Englisch)

07/29/2021 | 01:17am EDT

2021 Half Year Results

29 July 2021

Dr. Dominik von Achten - Group CEO

Dr. Lorenz Näger - Group CFO

Germany's first 3D-printed house in Beckum. © Detlef Podehl

Key Messages Q2 2021

  • Substantial increase in results in Q2 2021 - revenue +18%, operating EBITDA +22%, operating EBIT +36%; margin further improves by +76 bps (all like-for-likevs Q2 2020)
  • Major step in portfolio optimization - disposal of US West region business
  • High focus on shareholder returns - share buyback program with a total amount of up to 1 billion EUR announced
  • Significant deleveraging - net debt down by 1.5 bn € vs. prior year, driven by solid cash flow generation; leverage at 1.9x
  • Leadership position on path to decarbonization underlined -"BusinessAmbition for 1.5°C" signed and UN "Race To Zero" joined
  • Guidance raised - strong operating EBITDA growth expected for the full year 2021

Q 2 / H 1 2 0 2 1 R E S U L T S

Substantial increase in results - Continuous improvement in all operational metrics

Revenue (m€)

Operating EBITDA (m€)

Operating EBITDA Margin

Operating EBIT (RCO) (m€)

Lfl: +11%

Lfl: +26%

Lfl: +76 bps

Lfl: +57%

+8%

Lfl: +22%

+23%

+64 bps

Lfl: +228 bps

Lfl: +36%

+53%

+224 bps

+32%

Lfl: +18%

8,938

+18%

1,720

23.1% 23.7%

1,084

+15%

8,254

1,404

19.2%

862

1,182

17.0%

710

651

998

4,980

4,324

Q2

H1

Q2

H1

Q2

H1

Q2

H1

2020 2021

3

2021 Half Year Results | 29 July 2021

Q 2 / H 1 2 0 2 1 R E S U L T S

Good volume development in all business lines and regions

Sales volumes

Development in key markets in Q2

Cement (mt)

2019

2020

2021

2021 vs. 2020*

North America

Q2

32.4

28.7

33.5

4.8

16.9%

Half year

61.0

56.3

61.8

5.5

10.0%

Aggregates (mt)

2019

2020

2021

2021 vs. 2020*

Q2

82.7

74.7

83.7

9.0

12.0%

  • Volumes clearly above prior year level driven by easier comparison base and strong underlying business demand
  • Canada strongly coming back from low levels as demand improves in infrastructure and commodity sectors

Europe

Half year

145.6

134.8

145.0

10.2

7.5%

Ready-Mix (mm3)

2019

2020

2021

2021 vs. 2020*

Q2

13.1

11.0

12.7

1.7

15.4%

Half year

24.4

21.7

23.5

1.8

9.0%

Asphalt (mt)

2019

2020

2021

2021 vs. 2020*

Q2

3.0

2.6

2.9

0.3

11.4%

  • Good demand all around Western and Southern Europe
  • Solid demand increase in Nordics and Eastern Europe in all business lines driven by residential and infrastructure projects

Asia-Pacific

  • Volumes improve across the region despite Covid-19 driven uncertainty in most of the countries

Africa - Eastern Mediterranean

Half year

4.8

4.3

4.8

0.5

11.5%

Another solid quarter driven by Sub-Saharan business and Morocco

* % development based on LfL, excluding scope impacts

4

2021 Half Year Results | 29 July 2021

Q 2 / H 1 2 0 2 1 R E S U L T S

Operating EBITDA increases by 22% in Q2 2021

Q2 Operating EBITDA Bridge (m€)

+21.8%

277

-66

1,182

-1

1,182

998

-28

971

Q2 2020 EBITDA

Currency

Q2 2020

Net volume

Price over cost

Q2 2021

Scope

Q2 2021 EBITDA

LfL EBITDA

LfL EBITDA

5

2021 Half Year Results | 29 July 2021

Um den Rest dieser Noodl zu lesen, rufen Sie bitte die Originalversion auf, und zwar hier.

Disclaimer

HeidelbergCement AG published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:16:07 UTC.


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Financials
Sales 2021 18 584 M 21 548 M 21 548 M
Net income 2021 1 611 M 1 868 M 1 868 M
Net Debt 2021 5 349 M 6 202 M 6 202 M
P/E ratio 2021 7,76x
Yield 2021 3,81%
Capitalization 12 616 M 14 627 M 14 628 M
EV / Sales 2021 0,97x
EV / Sales 2022 0,90x
Nbr of Employees 53 327
Free-Float 74,5%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 64,58 €
Average target price 83,99 €
Spread / Average Target 30,0%
EPS Revisions
Managers and Directors
Ralph Dominik von Achten Chairman-Management Board
RenÚ Samir Aldach Chief Financial Officer
Fritz-JŘrgen Heckmann Chairman-Supervisory Board
Dennis Lentz Director-Group Information Technology
Wolfgang Dienemann Director-Global Research & Development
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