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MarketScreener Homepage  >  Equities  >  Xetra  >  HeidelbergCement AG    HEI   DE0006047004

HEIDELBERGCEMENT AG

(HEI)
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HeidelbergCement : invests around EUR400 million into the modernisation and reorganisation of its cement sites in France

11/19/2020 | 09:10am EST

HeidelbergCement's subsidiary Ciments Calcia presented the draft terms of its large-scale investment and reorganisation programme for several of its sites in France.

The programme is in line with HeidelbergCement's strategy to create a sustainable low-carbon and high performance business throughout the Group.

'As part of our global business excellence initiative, we intend to further optimise effectiveness, processes and structures of our French sites,' says Dr Dominik von Achten, Chairman of the Managing Board of HeidelbergCement. 'We want to considerably speed up the modernisation of our plants in order to enhance our performance in France, while ensuring alignment with the goals of the Paris agreement. This is why we focus our initiatives on the main CO2-emitting plants in France.'

The programme comprises investments of around EUR400 million at the Ciments Calcia plants, of which nearly EUR300 million are earmarked for the Airvault site alone. The company intends to adapt the organisation at its French headquarters and at two of its production sites in France in the following way:

Conversion of the plant in Gargenville (Yvelines) into a modern grinding center and shut down of the kiln system and quarry operations. This adjustment would in particular enhance the sustainability of this strategically important site, which supplies the Parisian basin via inland waterways.

Shut down of white cement production at the Cruas (Ardeche) site. The site would be converted into an automated cement terminal for the distribution of white cement.

Review of the organisation of headquarters in Guerville (Yvelines) and adaptation to the company's transformation.

The reorganisation would result in the reduction of 162 jobs and creation of 20 new jobs.

HeidelbergCement is significantly pushing its ambitious climate goals. By 2025, the company aims to reduce specific net CO2 emissions to below 525 kg per tonne of cementitious material. To achieve this goal, the company has defined concrete measures for all plants worldwide. The investment and reorganisation programme in France will contribute to reaching this goal.

About HeidelbergCement

HeidelbergCement is one of the world's largest integrated manufacturers of building materials and solutions, with leading market positions in aggregates, cement, and ready-mixed concrete. Around 54,000 employees at more than 3,000 locations in over 50 countries deliver long-term financial performance through operational excellence and openness for change. At the center of actions lies the responsibility for the environment. As forerunner on the path to carbon-neutrality, HeidelbergCement crafts material solutions for the future.

Contact:

Tel: +49 6221 481 13249

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 17 567 M 21 212 M 21 212 M
Net income 2020 -2 153 M -2 600 M -2 600 M
Net Debt 2020 6 997 M 8 448 M 8 448 M
P/E ratio 2020 -6,21x
Yield 2020 2,66%
Capitalization 13 250 M 16 020 M 16 000 M
EV / Sales 2020 1,15x
EV / Sales 2021 1,07x
Nbr of Employees 53 882
Free-Float 74,5%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 71,51 €
Last Close Price 66,78 €
Spread / Highest target 27,3%
Spread / Average Target 7,09%
Spread / Lowest Target -17,6%
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Managers and Directors
NameTitle
Ralph Dominik von Achten Chairman-Management Board
Fritz-Jürgen Heckmann Chairman-Supervisory Board
Lorenz Näger CFO, Deputy Chairman-Management Board
Dennis Lentz Director-Group Information Technology
Wolfgang Dienemann Director-Global Research & Development
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