Building Materials

Cement roadshow notes – CRH, Cemex, HeidelbergCement and LafargeHolcim

  • Sectors : Building Materials
  • Companies : CRH | LafargeHolcim | Saint-Gobain Group | Buzzi Unicem | HeidelbergCement AG

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
Buzzi Unicem OUTPERFORM 04/04/16 Neutral 05/08/15 1932c
CRH OUTPERFORM 23/05/12 Neutral 12/01/12 3063c
HeidelbergCement AG OUTPERFORM 16/06/17 Neutral 05/02/14 6424c
LafargeHolcim NEUTRAL 09/01/19 Underperform 17/11/15 4702chf
Saint-Gobain Group NEUTRAL 09/01/19 Outperform 07/09/15 3340c

DAVY VIEW

Davy hosted its Annual Industrials Conference in New York on Thursday September 5th. Companies attending included CRH, Cemex, HeidelbergCement and LafargeHolcim. Updates were generally reassuring on trading, suggesting little risk to full year guidance across the sector. End-market trends were broadly in-line with Q2 updates with pockets of softness (India, Indonesia Mexico), pricing strength and a bullish tone on US trading. With debt levels falling, capital allocation and acquisitions were hot topics for both CRH and LafargeHolcim. Our detailed roadshow notes are below.

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Sep 6 2019, 07:25 IST/BST

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