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MarketScreener Homepage  >  Equities  >  Xetra  >  HeidelbergCement AG    HEI   DE0006047004

HEIDELBERGCEMENT AG

(HEI)
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HeidelbergCement : Shrugging off COVID-19, HeidelbergCement saw good start to 2021

02/23/2021 | 01:24am EST

* 2020 core profit up 6.1% like-for-like

* Cash savings of 1.3 bln eur in 2020

* Sales down 4.6% at 17.61 bln eur

FRANKFURT, Feb 23 (Reuters) - HeidelbergCement, the world's second-largest cement maker, on Tuesday said it saw a good start to 2021 after preliminary results showed core profit was up 6% last year.

"There should be a tailwind from infrastructure programmes, for example in the USA, Australia, India and Italy. I am also confident about private residential construction," Chief Executive Dominik von Achten said.

Adjusted for currency and consolidation effects, the result from current operations before depreciation and amortisation was up 6.1% at 3.71 billion euros ($4.51 billion) last year, while sales were down 4.6% at 17.61 billion.

At 1.3 billion euros, cash savings blew past the group's own forecasts of 1 billion euros, helping the group soften the impact of the coronavirus crisis, which had a substantial impact on construction activity last year.

"We managed to more than compensate for the coronavirus-related decline in sales volumes through consistent spending discipline," von Achten said.

The group also said it would tie variable remuneration of managing board members as well as bonus-eligible employees to both CO2 reduction and financial targets. By 2025, specific net CO2 emissions are to be cut by 30% versus 1990 levels.

($1 = 0.8218 euros) (Reporting by Christoph Steitz; Editing by Riham Alkousaa and Maria Sheahan)


© Reuters 2021
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Financials
Sales 2020 17 517 M 21 329 M 21 329 M
Net income 2020 -2 149 M -2 617 M -2 617 M
Net Debt 2020 6 990 M 8 512 M 8 512 M
P/E ratio 2020 -6,27x
Yield 2020 2,60%
Capitalization 13 413 M 16 274 M 16 332 M
EV / Sales 2020 1,16x
EV / Sales 2021 1,06x
Nbr of Employees 53 882
Free-Float 74,5%
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Technical analysis trends HEIDELBERGCEMENT AG
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 73,45 €
Last Close Price 67,60 €
Spread / Highest target 27,1%
Spread / Average Target 8,66%
Spread / Lowest Target -17,2%
EPS Revisions
Managers and Directors
NameTitle
Ralph Dominik von Achten Chairman-Management Board
Lorenz Näger CFO, Deputy Chairman-Management Board
Fritz-Jürgen Heckmann Chairman-Supervisory Board
Dennis Lentz Director-Group Information Technology
Wolfgang Dienemann Director-Global Research & Development
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