AlphaValue Corporate Services
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
Positioned in a niche market
Objectif
Potentiel 42,6 %
Cours (€) 9,19
Capi (M€) 1 462
Perf. 1S: -0,86 %
Perf. 1M: -5,74 %
Perf. 3M: 4,20 %
Perf Ytd: -3,67 %
Perf. relative/stoxx600 10j: 0,98 %
Perf. relative/stoxx600 20j: -7,60 %
Opinion change08/02/2021

Changement d’OpinionAchat vs Accumuler

Changement d’EPS2020 : € 0,55 vs 0,45+20,6 %
2021 : € 0,64 vs 0,55+17,2 %

Following the group's preliminary FY20 results, we have updated our model to incorporate the better than expected results. Revenue and EBITDA were 4% and 13% above our expectations respectively, resulting in an increase of €0.09 in FY20 EPS 2020.

We have also increased the FY21 top-line and EBITDA by 6.5% and 12.5%, respectively, largely due to the improving Mediterranean market and also based on the Industrial Plan 2020-23 announced by the group.



Changement de DCF€ 11,1 vs 8,77+26,4 %

Our DCF based value has been positively impacted by the higher earnings forecast, and due to the strong cash generation expected over the medium term (net debt down from €240m in FY19 to €122m in FY20 and we expect the group to have a net cash position from FY22 onwards).



Mises à Jour
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