Heidelberg Materials 3Q Results Hard to See as Significant Catalyst -- Market Talk

Dow Jones10-10

0900 GMT - Heidelberg Materials' limited like-for-like growth forecast for 3Q Ebitda and a tight consensus range make it difficult to see the next results as a significant catalyst, Jefferies analysts say in a research note. The German building materials company's weakness across Western and Northern Europe are anticipated to keep revenue like-for-like in decline, with North America also expected to forecast tough volumes, Jefferies says. Asia appears weak and while Australia is reported to be stable, India price and volumes are down, they say. The company's Africa-Mediterranean region is expected to be a highlight: "We forecast up mid-high single-digit like-for-like improvements in both revenue and Ebitda," they say. Shares trade 1.4% lower at 97.80 euros. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

October 10, 2024 05:00 ET (09:00 GMT)

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Asia appears weak and while Australia is reported to be stable, India price and volumes are down, they say. The company's Africa-Mediterranean region is expected to be a highlight: \"We forecast up mid-high single-digit like-for-like improvements in both revenue and Ebitda,\" they say. Shares trade 1.4% lower at 97.80 euros. 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