HeidelbergCement: cement sets - Credit Suisse still on hold

(CercleFinance.com) - The group organised a day to present its new strategic objectives, called "Beyond 2020, at which it set a new CO2 reduction target.


Following this presentation, Crédit Suisse confirms its neutral rating on the share with a target price of 60 euros.

Management aims to increase the group's EBITDA margin by 300 bp by 2025 (400-500 bp in the US).

The margin expansion target is backed by a strategy to simplify and improve its asset portfolio, which includes asset disposals, improvements in the asset base that are based on innovation, with a net investment budget of up to 1.2 billion euros per year (including 50 million euros for CO2 reduction).

The market doesn't seem too convinced either - the share is down over 1.5% in late Friday morning trading.



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