AlphaValue Corporate Services Fundamental Analysis FR
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AlphaValue Corporate Services
This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II

Cementir Holding

CR
Bloomberg   CEM IM
Cement & Aggregates  /  Italy  Web Site   |   Investors Relation
Also operates in : Holding Companies
White knight in a green armour
Opinion change29/07/2021

Change in OpinionBuy vs Add

Change in EPS2021 : € 0.76 vs 0.69+9.44%
2022 : € 0.85 vs 0.79+8.28%

Following a good set of H1 results, along with strong demand momentum and updated guidance, we have revised our estimates upwards. We now assume the FY21 revenue and EBITDA to be €1.35bn and €297m respectively, and estimate them to grow by 6.3% and 7.7% CAGR respectively over 2020-23. As a result, our EPS for FY21 and FY22 have been positively impacted.



Target
Upside 23.4%
Price (€) 8.49
Market Cap (€M) 1,351
Perf. 1W: 3.79%
Perf. 1M: -6.60%
Perf. 3M: -9.97%
Perf Ytd: 29.6%
10 day relative perf. to stoxx600: -0.78%
20 day relative perf. to stoxx600: -6.59%
Updates

12 Nov 21 Earnings/sales releases
9M 21: well managed cost inflation

03 Nov 21 Other news/comments
Cementir Holding accelerating from grey to green

29 Jul 21 Earnings/sales releases
H1 21: all regions in recovery mode

06 May 21 Earnings/sales releases
Q1 21: growth momentum continues

10 Mar 21 Earnings/sales releases
FY20 results - a Turkish Delight

05 Feb 21 Earnings/sales releases
FY 20: performance beyond full-year guidance

10 Nov 20 Earnings/sales releases
9m 20: results in line with 9m19 but cautious gu...

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