Heidelberg Materials Ag · XETR:HEI
Heidelberg Materials — Q1 2024 Earnings Presentation
18 slides from Heidelberg Materials's earnings presentation, May 7, 2024
Slide 1: Q1 2024 Trading Update
Q1 2024 Trading Update 7 May 2024 Dr Dominik von Achten – CEO René Aldach - CFO
Slide 2: Q1 2024 operational overview
Q1 2024 operational overview • Good performance in Q1 despite challenging environment impacted by bad weather conditions and less working days: - Revenue -8%; EBITDA -2%; RCO -9% * • EBITDA Margin further improves by +71 bps versus prior year, driven by positive pricing and strict cost management •
Slide 3: Q1 2024: Solid start against a very strong prior year
Operational result Q1 2024: Solid start against a very strong prior year Revenue [€m] Operating EBITDA [€m] Operating EBITDA Margin Operating EBIT (RCO) [€m] -408 €m -14 €m -27 €m LfL: LfL: +71 bps LfL: -8% -2% -9% 4.896 557 542 12.1% 258 4.488 11.4% 232 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 20
Slide 4: Q1 2024 Operating EBIT (RCO) bridge [€m]
Operational result Q1 2024 Operating EBIT (RCO) bridge [€m] -22 €m 258 -12 (-9%) 246 -202 189 -9 7 232 224 Q1 2023 RCO Currency Q1 2023 Net volume Price Depreciation Q1 2024 Scope Q1 2024 RCO LfL RCO over cost & Amort. LfL RCO 4 07.05.2024 Q1 2024 Trading Update | Dr Dominik von Achten, René Aldach
Slide 5: Europe
Operational result Europe Q1 Q1 2023 2024 -214 €m -42 €m -146 bps LfL: -10% LfL: -30% 2.252 127 5.6% 2.038 85 4.2% Revenue [€m] RCO [€m] RCO Margin • Volumes impacted by less working days in the quarter. Demand recovery visible in East Europe • Good cost management partly compensates volume pressure
Slide 6: North America
Operational result North America Q1 Q1 2023 2024 +21 €m -53 €m +219 bps LfL: +464% LfL: -7% 1,030 977 25 2.6% 4 0.4% Revenue [€m] RCO [€m] RCO Margin • Significant result and margin improvement driven by solid price development and disciplined cost management • Weather related shortfall in volumes i
Slide 7: Asia - Pacific
Operational result Asia - Pacific Q1 Q1 2023 2024 -96 €m +3 €m +114 bps LfL: -8% LfL: -1% 937 67 70 8.3% 840 7.2% Revenue [€m] RCO [€m] RCO Margin • Footprint further strengthened through acquisition of ACE Group, largest supplier of pulverised fly ash in Malaysia • Solid margin improvement despite
Slide 8: Africa – Mediterranean - Western Asia
Operational result Africa – Mediterranean - Western Asia Q1 Q1 2023 2024 -69 €m -24 €m -262 bps LfL: -7% LfL: -20% 566 91 16.0% 496 13.4% 67 Revenue [€m] RCO [€m] RCO Margin • Slightly negative volume development due to Ramadan impact in Morocco and Egypt • Overall good pricing in local currencies p
Slide 9: Accelerating portfolio review and optimising cost structure
Strategy Accelerating portfolio review and optimising cost structure Portfolio optimisation: * Strict cost measures: UK Germany Georgia Acquisition of Mick Acquisition of Disposal of HM Georgia Germany Shut-down clinker production in Leimen George (Recycling) SER Group (Recycling) (CEM) Canada Germa
Slide 10: Sustainability highlights
Sustainability highlights • Driving decarbonization: Acquisition of ACE Group, the largest supplier of pulverised fly ash in Malaysia • Up to 500 $m funding secured for Mitchell, our largest CCUS project that will capture 2 mt CO₂ p.a. from 2030 • Draft legislation for Carbon Storage Act and key pri
Slide 11: Guidance confirmed
Business Outlook & Guidance Guidance confirmed 2024 Target Revenue LfL Growth RCO 3.00 to 3.30 €bn ROIC At around 10% CapEx Net Around 1.1 €bn In line with mid-term target: Leverage Between 1.5x-2.0x 11 07.05.2024 Q1 2024 Trading Update | Dr Dominik von Achten, René Aldach
Slide 12: Q1 2024 operational overview
Q1 2024 operational overview • Good performance in Q1 despite challenging environment impacted by bad weather conditions and less working days: - Revenue -8%; EBITDA -2%; RCO -9% * • EBITDA Margin further improves by +71 bps versus prior year, driven by positive pricing and strict cost management •
Slide 13: Appendix
Appendix 13
Slide 14: Currency and scope impacts / Operating Result
Appendix Currency and scope impacts / Operating Result Operating EBITDA Operating EBIT (RCO) Scope & Currency Revenue (€m) (€m) (€m) Q1 2024 Scope Currency Scope Currency Scope Currency Europe 4 14 -4 1 -4 1 North America 32 -12 7 -1 2 0 Asia – Pacific 22 -46 9 -7 7 -4 Africa – Med. - Western Asia 1
Slide 15: 2023 restated figures
Appendix 2023 restated figures * Revenue (m€) Q1 23 Q2 23 H1 23 Q3 23 9M 23 Q4 23 FY 23 Europe 2,252 2,594 4,846 2,444 7,291 2,275 9,566 North America 1,030 1,404 2,434 1,522 3,956 1,263 5,219 Asia - Pacific 937 874 1,811 949 2,759 945 3,705 Africa – Med. - Western Asia 566 590 1,156 601 1,756 533 2
Slide 16: Financial Calendar & IR Contacts
Financial Calendar & IR Contacts Upcoming events: • 16 May 2024 : Annual General Meeting • 30 July 2024 : Half year results • 7 November 2024 : Third quarter trading update Contact: Investor Relations: ir-info@heidelbergmaterials.com +49 6221 481 13227 Press & Media: info@heidelbergmaterials.com 16
Slide 17: Disclaimer
Disclaimer •Unless otherwise indicated, the financial information provided herein has been prepared under International Financial Reporting Standards (IFRS). All the figures included in this presentation are preliminary, unaudited and subject to revision upon completion of the Company's closing and
Slide 18: Heidelberg Materials
Heidelberg Materials