New Risk • Jun 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Upcoming Dividend • May 07
Upcoming dividend of €3.60 per share Eligible shareholders must have bought the stock before 14 May 2026. Payment date: 19 May 2026. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Austrian dividend payers (3.7%). In line with average of industry peers (2.0%). Duyuru • Apr 21
Heidelberg Materials AG (XTRA:HEI) agreed to acquire an additional 39.72% stake in Akçansa Çimento Sanayi ve Ticaret Anonim Sirketi (IBSE:AKCNS) from Haci Ömer Sabanci Holding A.S. (IBSE:SAHOL). Heidelberg Materials AG (XTRA:HEI) agreed to acquire an additional 39.72% stake in Akçansa Çimento Sanayi ve Ticaret Anonim Sirketi (IBSE:AKCNS) from Haci Ömer Sabanci Holding A.S. (IBSE:SAHOL) on April 20, 2026. Upon completion, Heidelberg Materials AG will own 79.44% stake in Akçansa Çimento Sanayi ve Ticaret Anonim Sirketi.
The transaction is subject to approval by regulatory board / committee. New Risk • Apr 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 7.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.3% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Mar 31
Heidelberg Materials AG, Annual General Meeting, May 13, 2026 Heidelberg Materials AG, Annual General Meeting, May 13, 2026, at 10:00 W. Europe Standard Time. Duyuru • Mar 27
Heidelberg Materials AG announces Annual dividend, payable on May 18, 2026 Heidelberg Materials AG announced Annual dividend of EUR 3.6000 per share payable on May 18, 2026, ex-date on May 14, 2026 and record date on May 15, 2026. New Risk • Mar 03
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (6.3% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: €11.17 (vs €9.67 in FY 2024) Full year 2025 results: EPS: €11.17 (up from €9.67 in FY 2024). Revenue: €21.5b (up 1.2% from FY 2024). Net income: €1.99b (up 14% from FY 2024). Profit margin: 9.2% (up from 8.2% in FY 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jan 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 4.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (40% net debt to equity). Share price has been volatile over the past 3 months (4.6% average weekly change). Duyuru • Oct 29
Heidelberg Materials AG to Report Fiscal Year 2025 Final Results on Mar 26, 2026 Heidelberg Materials AG announced that they will report fiscal year 2025 final results at 12:00 PM, Central European Standard Time on Mar 26, 2026 Duyuru • Sep 06
CRH and Heidelberg Materials Reportedly Among Suitors for A Business Being Sold by NCC CRH plc (NYSE:CRH) and Heidelberg Materials AG (XTRA:HEI) are among suitors for a business being sold by NCC AB (publ) (OM:NCC B), according to people familiar with the matter. NCC's industry business which makes aggregates, asphalt and asphalt paving has also attracted interest from Bouygues's Colas unit as well as several private equity firms, the people said. NCC announced a strategic review of the business in February and hired SEB Corporate Finance to advise on a potential divestment, which is now heading into the next round of bidding. The unit, which accounts for about 20% of NCC's sales, could fetch as much as $1 billion (EUR 850 million) in a transaction, some of the people said, asking not to be identified because talks are private. Deliberations are ongoing and the suitors could decide against proceeding with their bids, the people said. NCC could also opt to keep the business for longer, they added. A representative for NCC said the company is still hoping to reach a conclusion of the strategic review before the end of the year, declining to comment on the bidders. Representatives for CRH, Colas and Heidelberg Materials also declined to comment. New Risk • Aug 03
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 40% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Upcoming Dividend • May 09
Upcoming dividend of €3.30 per share Eligible shareholders must have bought the stock before 16 May 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Austrian dividend payers (4.9%). Lower than average of industry peers (2.8%). New Risk • May 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Duyuru • Apr 04
Heidelberg Materials AG, Annual General Meeting, May 15, 2025 Heidelberg Materials AG, Annual General Meeting, May 15, 2025, at 10:00 W. Europe Standard Time. Duyuru • Mar 26
Heidelberg Materials AG announces Annual dividend, payable on May 20, 2025 Heidelberg Materials AG announced Annual dividend of EUR 3.3000 per share payable on May 20, 2025, ex-date on May 16, 2025 and record date on May 19, 2025. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €170, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Basic Materials industry in Europe. Total returns to shareholders of 247% over the past three years. New Risk • Mar 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: €9.67 (vs €10.99 in FY 2023) Full year 2024 results: EPS: €9.67 (down from €10.99 in FY 2023). Revenue: €21.8b (up 2.3% from FY 2023). Net income: €1.75b (down 14% from FY 2023). Profit margin: 8.0% (down from 9.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 28
WIH Cement Developing Company Limited entered into a share purchase agreement to acquire 91.02% stake in Cimenterie De Lukala Sarl from Heidelberg Materials AG (XTRA:HEI) for $3.7 million. WIH Cement Developing Company Limited entered into a share purchase agreement to acquire 91.02% stake in Cimenterie De Lukala Sarl from Heidelberg Materials AG (XTRA:HEI) for $3.7 million on January 27, 2025. The consideration for the 1,574,904 shares of CILU is $3,700,069 (payable in cash), subject to customary closing adjustments for cash, debt and net working capital of CILU. Closing of the HM SPA is subject to and conditional upon the following conditions precedent being satisfied: (A) approval of the transaction by competition authorities, waiver of the authorities’ jurisdiction or waiver or lapse of the prohibition to complete such transaction; (B) no material adverse change has occurred and no circumstance has arisen which would result in a material adverse change; (C) certain of CILU’s operating licenses of permanent quarries in DRC being in force and effect on HM SPA Closing Date and there is no written order, written objection, written indication, written judgment of any authority explicitly threatening or clearly presenting the prospect of revocation of any of those licenses; (D) no order, objection, indication, judgment of any authority has been issued prior to closing which prevents or deems illegal the closing of the HM SPA and/or the sale and transfer of the Intra-Group Repayment Claims under the Intra-Group Transfer Agreement; (E) no breach of any fundamental warranty and no circumstance has arisen which would result in a breach of a fundamental warranty; and (F) the IFC SPA has, if not signed prior to or on the HM SPA Signing Date, been (i) approved by HM AG, (ii) entered into with IFC, and (iii) the IFC SPA’s closing is only dependent on the payment of the purchase price under the IFC SPA and the closing of the HM SPA and all other conditions to the IFC SPA having been fulfilled or waived. The IFC SPA has not been entered into as at the date of announcement.
The closing date will be the date which is: (a) the last Business Day of the month in which the last condition precedent is fulfilled or waived; (b) where the last condition precedent has been fulfilled or duly waived during the last 6 Business Days of a month, the last Business Day of the following month, or (c) another date as mutually agreed by HM AG and WIH Cement, and no earlier than 30 June 2025. The transaction is subject to regulatory approval and is expected to close in 2025. Duyuru • Dec 27
Heidelberg Materials AG SPONSORED ADR Deleted from OTC Equity Heidelberg Materials AG SPONSORED ADR (Germany) has been deleted from OTC Equity effective December 26, 2024, due to Other Reasons. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €121, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Basic Materials industry in Europe. Total returns to shareholders of 107% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €232 per share. Duyuru • Oct 09
Heidelberg Materials AG (XTRA:HEI) acquired unknown minority stake in EnviCore Inc. Heidelberg Materials AG (XTRA:HEI) acquired unknown minority stake in EnviCore Inc. on October 9, 2024.
Heidelberg Materials AG (XTRA:HEI) completed the acquisition of unknown minority stake in EnviCore Inc. on October 9, 2024. Reported Earnings • Jul 31
First half 2024 earnings released: EPS: €3.19 (vs €4.07 in 1H 2023) First half 2024 results: EPS: €3.19 (down from €4.07 in 1H 2023). Revenue: €10.0b (down 4.5% from 1H 2023). Net income: €579.9m (down 24% from 1H 2023). Profit margin: 5.8% (down from 7.2% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • May 10
Upcoming dividend of €3.00 per share Eligible shareholders must have bought the stock before 17 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Austrian dividend payers (5.8%). In line with average of industry peers (3.3%). Duyuru • May 04
Heidelberg Materials AG (XTRA:HEI) entered into a definitive purchase agreement to acquire ACE Group. Heidelberg Materials AG (XTRA:HEI) entered into a definitive purchase agreement to acquire ACE Group on May 1, 2024. The leadership team of ACE Group will stay on board as part of the acquisition to continue managing the companies. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: €10.99 (vs €8.50 in FY 2022) Full year 2023 results: EPS: €10.99 (up from €8.50 in FY 2022). Revenue: €21.3b (flat on FY 2022). Net income: €2.03b (up 27% from FY 2022). Profit margin: 9.6% (up from 7.6% in FY 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: €10.57 (vs €8.50 in FY 2022) Full year 2023 results: EPS: €10.57 (up from €8.50 in FY 2022). Revenue: €21.3b (flat on FY 2022). Net income: €1.96b (up 22% from FY 2022). Profit margin: 9.2% (up from 7.6% in FY 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 05
JSW Cement Reportedly in Initial Talks to Cement Deal with Heidelberg Materials JSW Cement Limited is in initial talks with Germany's Heidelberg Materials AG (XTRA:HEI) to acquire the latter's 13.4 million-tonne-a-year cement businesses in India, industry sources aware of the talks told ET. The people cited above said the discussions, currently bilateral, began after the JSW Group made an unsolicited offer to acquire Heidelberg's local entities that primarily have capacities in peninsular India. To be sure, Heidelberg is yet to take a final call on its India exit strategy and according to the people cited above, it is possible it may eventually decide to opt for a bidding process for the assets to allow other potential buyers to participate and increase competitive intensity for the plants. A Heidelberg Materials spokesperson declined to comment, while the JSW Group did not respond to ET's email seeking comments. Reported Earnings • Jul 30
First half 2023 earnings released: EPS: €4.07 (vs €2.76 in 1H 2022) First half 2023 results: EPS: €4.07 (up from €2.76 in 1H 2022). Revenue: €10.5b (up 5.3% from 1H 2022). Net income: €758.5m (up 43% from 1H 2022). Profit margin: 7.2% (up from 5.3% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 05
Upcoming dividend of €2.60 per share at 3.8% yield Eligible shareholders must have bought the stock before 12 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Austrian dividend payers (5.2%). In line with average of industry peers (3.6%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: €8.50 (vs €9.15 in FY 2021) Full year 2022 results: EPS: €8.50 (down from €9.15 in FY 2021). Revenue: €21.2b (up 13% from FY 2021). Net income: €1.61b (down 11% from FY 2021). Profit margin: 7.6% (down from 9.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 28
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €753.5m from profit in 1H 2021). Profit margin: (down from 8.4% in 1H 2021). Over the next year, revenue is forecast to grow 5.1%, compared to a 7.9% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 06
Upcoming dividend of €2.40 per share Eligible shareholders must have bought the stock before 13 May 2022. Payment date: 17 May 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Austrian dividend payers (4.7%). Higher than average of industry peers (3.8%). Reported Earnings • Feb 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €9.14 (up from €10.42 loss in FY 2020). Revenue: €19.3b (up 9.0% from FY 2020). Net income: €1.80b (up €3.87b from FY 2020). Profit margin: 9.4% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 9.9% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Jul 31
First half 2021 earnings released: EPS €3.80 (vs €15.69 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €8.95b (up 8.3% from 1H 2020). Net income: €753.5m (up €3.87b from 1H 2020). Profit margin: 8.4% (up from net loss in 1H 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 30
Upcoming dividend of €2.20 per share Eligible shareholders must have bought the stock before 07 May 2021. Payment date: 11 May 2021. Trailing yield: 2.9%. Lower than top quartile of Austrian dividend payers (3.2%). In line with average of industry peers (2.7%). Reported Earnings • Mar 20
Full year 2020 earnings released: €10.42 loss per share (vs €5.66 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €17.7b (down 6.6% from FY 2019). Net loss: €2.07b (down 284% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 90% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 04
New 90-day high: €68.90 The company is up 15% from its price of €60.14 on 03 December 2020. The Austrian market is also up 15% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Basic Materials industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €238 per share. Is New 90 Day High Low • Jan 13
New 90-day high: €68.50 The company is up 26% from its price of €54.44 on 14 October 2020. The Austrian market is up 30% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Basic Materials industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €231 per share. Is New 90 Day High Low • Dec 24
New 90-day high: €61.80 The company is up 23% from its price of €50.16 on 24 September 2020. The Austrian market is up 25% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Basic Materials industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €164 per share. Is New 90 Day High Low • Nov 11
New 90-day high: €58.38 The company is up 10.0% from its price of €52.96 on 12 August 2020. The Austrian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €131 per share. Is New 90 Day High Low • Oct 08
New 90-day high: €57.04 The company is up 15% from its price of €49.44 on 10 July 2020. The Austrian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €84.62 per share. 
