Heidelberg Materials Might See Short-Term Share Price Weakness -- Market Talk

Dow Jones2024-07-30

0747 GMT - Heidelberg Materials might see short-term share-price weakness while investors form a better view on 2H, RBC Markets analyst Anthony Codling says in a research note. The German building materials company's 2Q results were a touch light on revenue but recurring Ebitda grew and was in line with consensus, with the group reiterating some, but not all, of its full-year guidance. "To hit 2024 consensus recurring Ebit -- EUR3.22 billion -- implies 10% Ebit growth in 2H, which implies significant cost and price management in the face of weak volumes, whereas to reach the lower end of guidance -- EUR3 billion -- implies a 2% reduction in Ebit," Codling says. Shares trade 1.6% lower at EUR97.06. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

July 30, 2024 03:48 ET (07:48 GMT)

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