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Cette analyse a été commandée et financée par l’entreprise concernée et constitue donc un avantage non-monétaire mineur tel que défini par MIFID2

Cementir Holding

CR
Bloomberg   CEM IM
Ciments & Agrégats  /  Italie  Web Site   |   Investors Relation
Egalement présent dans : Sociétés holdings
Solid position in a niche market
Objectif
Potentiel 23,5 %
Cours (€) 14,32
Capi (M€) 2 279
Perf. 1S: 5,14 %
Perf. 1M: 4,53 %
Perf. 3M: 25,6 %
Perf Ytd: 35,9 %
Perf. relative/stoxx600 10j: 0,14 %
Perf. relative/stoxx600 20j: 6,52 %
EPS change18/04/2023 16:34

Price hikes boost the EPS

Changement d’EPS2023 : € 0,85 vs 0,95-10,2 %
2024 : € 0,94 vs 1,04-9,91 %

Cementir Holding reported better-than-expected results thanks to price increases and higher financial income. For the coming years we expect continued organic growth in Nordics & Baltics (43% of sales) where the company has a leading position in white cement, although this will be more limited (4% yoy) as we see a continued decline in volume and Cementir may not be able to hike its prices as in 2022.



Changement de NAV€ 11,0 vs 9,82+11,7 %

Cementir Holding has reported a robust balance sheet, leading to a positive net cash position that has increased our NAV by 12% compared to our previous estimates.



Mises à Jour

08 nov. 23 Publication Res./CA
Q3 23: Conservative guidance

31 juil. 23 Publication Res./CA
H1 23: positive price-cost spread

10 mai 23 Publication Res./CA
Q1 23: Pricing boosts profitability

18 avr. 23 EPS change
Price hikes boost the EPS

13 févr. 23 Publication Res./CA
FY 22: Price hikes to manage inflation.

28 juil. 22 Publication Res./CA
H1 22: IAS 29 lowers profitability

06 mai 22 Publication Res./CA
Q1 22: profitability outpacing cost inflation

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