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Cementir Holding

DB:3PC
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3PC
DB
€819M
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Cementir Holding N.V., through its subsidiaries, produces and distributes grey and white cement, ready-mix concrete, aggregates, and concrete products in the Nordic and Baltic regions, Belgium, North America, Turkey, Egypt, the Asia Pacific, and Italy. The last earnings update was 30 days ago. More info.


Add to Portfolio Compare Print
  • Cementir Holding has significant price volatility in the past 3 months.
3PC Share Price and Events
7 Day Returns
7.6%
DB:3PC
6.6%
Europe Basic Materials
2.1%
DE Market
1 Year Returns
-19.2%
DB:3PC
-26.7%
Europe Basic Materials
-16.6%
DE Market
3PC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cementir Holding (3PC) 7.6% 3.8% -21.1% -19.2% -2.6% -24.9%
Europe Basic Materials 6.6% -18.2% -32.2% -26.7% -36.7% -34%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • 3PC outperformed the Basic Materials industry which returned -26.7% over the past year.
  • 3PC underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
3PC
Industry
5yr Volatility vs Market

3PC Value

 Is Cementir Holding undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cementir Holding to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cementir Holding.

DB:3PC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:3PC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 8.2%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 24%) (69.77%))
1.168
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.17
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.168 * 8.23%)
9.22%

Discounted Cash Flow Calculation for DB:3PC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cementir Holding is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:3PC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.22%)
2020 101.00 Analyst x2 92.47
2021 111.63 Analyst x4 93.57
2022 118.73 Analyst x3 91.12
2023 114.89 Est @ -3.23% 80.73
2024 112.16 Est @ -2.38% 72.15
2025 110.16 Est @ -1.78% 64.88
2026 108.65 Est @ -1.37% 58.59
2027 107.49 Est @ -1.07% 53.07
2028 106.55 Est @ -0.87% 48.16
2029 105.78 Est @ -0.72% 43.78
Present value of next 10 years cash flows €698.00
DB:3PC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €105.78 × (1 + -0.39%) ÷ (9.22% – -0.39%)
€1,096.00
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,096.00 ÷ (1 + 9.22%)10
€453.56
DB:3PC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €698.00 + €453.56
€1,151.56
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,151.56 / 159.12
€7.24
DB:3PC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3PC represents 1.00389x of BIT:CEM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00389x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 7.24 x 1.00389
€7.27
Value per share (EUR) From above. €7.27
Current discount Discount to share price of €5.17
= -1 x (€5.17 - €7.27) / €7.27
28.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Cementir Holding is available for.
Intrinsic value
29%
Share price is €5.17 vs Future cash flow value of €7.27
Current Discount Checks
For Cementir Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cementir Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cementir Holding's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cementir Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cementir Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3PC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.53
BIT:CEM Share Price ** BIT (2020-04-07) in EUR €5.15
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.52x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cementir Holding.

DB:3PC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:CEM Share Price ÷ EPS (both in EUR)

= 5.15 ÷ 0.53

9.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cementir Holding is overvalued based on earnings compared to the Europe Basic Materials industry average.
  • Cementir Holding is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Cementir Holding's expected growth come at a high price?
Raw Data
DB:3PC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
13.7%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.67x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:3PC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.81x ÷ 13.7%

0.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cementir Holding is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Cementir Holding's assets?
Raw Data
DB:3PC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €6.57
BIT:CEM Share Price * BIT (2020-04-07) in EUR €5.15
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.85x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:3PC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:CEM Share Price ÷ Book Value per Share (both in EUR)

= 5.15 ÷ 6.57

0.78x

* Primary Listing of Cementir Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cementir Holding is good value based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Cementir Holding's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Basic Materials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Basic Materials industry average (and greater than 0)? (1 check)
  5. Cementir Holding has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

3PC Future Performance

 How is Cementir Holding expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cementir Holding expected to grow at an attractive rate?
  • Cementir Holding's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Cementir Holding's earnings growth is positive but not above the Germany market average.
  • Cementir Holding's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3PC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3PC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 13.7%
DB:3PC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:3PC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3PC Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,369 190 127 2
2021-12-31 1,312 178 112 2
2020-12-31 1,159 201 99 3
2020-04-08
DB:3PC Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 1,227 215 84
2019-06-30 1,211 188 90
2019-03-31 1,232 133
2018-12-31 1,210 157 140
2018-06-30 1,185 124 158
2018-03-31 1,148 107
2017-12-31 1,152 159 105
2017-06-30 1,017 166 114
2017-03-31 943 100

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cementir Holding's earnings are expected to grow by 13.7% yearly, however this is not considered high growth (20% yearly).
  • Cementir Holding's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:3PC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Cementir Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3PC Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.79 0.79 0.78 2.00
2021-12-31 0.65 0.70 0.58 3.00
2020-12-31 0.57 0.63 0.40 4.00
2020-04-08
DB:3PC Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.53
2019-06-30 0.57
2019-03-31 0.83
2018-12-31 0.88
2018-06-30 0.99
2018-03-31
2017-12-31 0.66
2017-06-30 0.72
2017-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Cementir Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Cementir Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cementir Holding has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

3PC Past Performance

  How has Cementir Holding performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cementir Holding's growth in the last year to its industry (Basic Materials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cementir Holding's year on year earnings growth rate has been positive over the past 5 years.
  • Cementir Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Cementir Holding's 1-year earnings growth is negative, it can't be compared to the Europe Basic Materials industry average.
Earnings and Revenue History
Cementir Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cementir Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3PC Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,227.14 83.57 198.11
2019-06-30 1,210.70 90.04 177.42
2019-03-31 1,231.76 132.77 183.43
2018-12-31 1,209.54 140.30 176.33
2018-06-30 1,184.74 157.56 201.55
2018-03-31 1,147.91 107.09 196.81
2017-12-31 1,151.90 104.57 196.57
2017-06-30 1,016.74 114.42 168.56
2017-03-31 942.74 100.02 156.97
2016-12-31 940.04 100.86 157.90
2016-09-30 1,015.20 60.97 180.17
2016-06-30 985.85 54.67 170.81
2016-03-31 982.76 61.07 170.32
2015-12-31 979.67 67.48 169.84
2015-09-30 971.27 71.22 168.76
2015-06-30 962.87 74.96 167.68
2015-03-31 962.14 73.30 166.36
2014-12-31 961.40 71.63 165.04
2014-09-30 979.91 62.44 173.21
2014-06-30 998.42 53.25 181.37
2014-03-31 997.30 46.69 178.48
2013-12-31 996.18 40.12 175.59
2013-09-30 995.61 31.09 167.12
2013-06-30 995.04 22.07 158.66

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cementir Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cementir Holding used its assets less efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Cementir Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cementir Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Basic Materials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cementir Holding has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

3PC Health

 How is Cementir Holding's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cementir Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cementir Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cementir Holding's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cementir Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cementir Holding Company Filings, last reported 3 months ago.

DB:3PC Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,181.57 487.45 330.95
2019-06-30 1,124.39 485.25 166.01
2019-03-31 1,128.38 488.87 232.61
2018-12-31 1,128.38 488.87 232.61
2018-06-30 1,108.38 654.54 257.43
2018-03-31 1,015.66 758.87 214.53
2017-12-31 1,015.66 758.87 214.53
2017-06-30 1,015.78 812.74 196.29
2017-03-31 1,060.30 809.96 244.03
2016-12-31 1,060.30 809.96 244.03
2016-09-30 1,060.30 809.96 244.03
2016-06-30 1,112.87 383.43 115.70
2016-03-31 1,112.87 383.43 115.70
2015-12-31 1,131.11 365.05 136.77
2015-09-30 1,131.11 365.05 136.77
2015-06-30 1,120.14 412.08 94.23
2015-03-31 1,120.14 412.08 94.23
2014-12-31 1,123.30 377.92 93.86
2014-09-30 1,123.30 377.92 93.86
2014-06-30 1,046.30 457.42 98.33
2014-03-31 1,046.30 457.42 98.33
2013-12-31 1,029.41 439.27 110.73
2013-09-30 1,029.41 439.27 110.73
2013-06-30 1,078.03 486.24 83.22
  • Cementir Holding's level of debt (41.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (33.7% vs 41.3% today).
  • Debt is well covered by operating cash flow (44.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 17.2x coverage).
X
Financial health checks
We assess Cementir Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cementir Holding has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

3PC Dividends

 What is Cementir Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.72%
Current annual income from Cementir Holding dividends. Estimated to be 3.16% next year.
If you bought €2,000 of Cementir Holding shares you are expected to receive €54 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Cementir Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Cementir Holding's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
Upcoming dividend payment

Purchase Cementir Holding before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:3PC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:3PC Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.19 2.00
2021-12-31 0.17 4.00
2020-12-31 0.15 5.00
2020-04-08
DB:3PC Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-05 0.140 2.892
2019-03-07 0.140 2.223
2018-04-24 0.100 1.672
2017-03-28 0.100 1.545
2017-03-03 0.100 1.878
2016-03-29 0.100 2.377
2016-03-10 0.100 2.162
2015-04-02 0.100 1.842
2015-03-10 0.100 1.476
2014-03-26 0.080 1.463
2014-03-07 0.080 1.230
2013-03-28 0.040 1.387
2013-03-07 0.040 1.874
2012-07-25 0.040 2.456
2012-03-08 0.040 2.691
2011-03-28 0.060 3.376
2011-03-08 0.060 2.778
2010-04-06 0.060 2.599
2010-02-11 0.060 2.002

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Cementir Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.2x coverage).
X
Income/ dividend checks
We assess Cementir Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cementir Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cementir Holding has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3PC Management

 What is the CEO of Cementir Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Francesco Caltagirone
COMPENSATION €5,024,000
AGE 51
CEO Bio

Mr. Francesco C. Caltagirone Jr., serves as the Group Chief Executive Officer and Member of Executive Board at Aalborg Portland Holding A/S. Mr. Caltagirone has been the Chairman of the Board and Chief Executive Officer of Cementir Holding N.V. (formerly known as Cementir Holding S.p.A.) since 1996 and serves as its Executive Director since June 27, 1995. After spending six years in the building sector, he joined the Cementir Group in 1995. He has deep knowledge and significant experience in the cement and recycling sector. He serves as Vice Chairman of Cimbeton Hazir Beton ve Prefabrik Yapi Elemanlari Sanayi ve Ticaret A.S., and served as Director at Çimentas Izmir Çimento Fabrikasi Türk A.S. (alternate name, Cimentas Izmir Cimento Fabrikalari TAS). He serves as Chairman of the Board of Directors of Caltagirone SpA (Italy). He served as a Vice Chairman of Aalborg Portland Holding A/S (alternate name, Aalborg Portland AS) and Banca Antonveneta S.p.A. He has been Director of SUEZ SA since February 28, 2017. He serves as a Director of Cimentas Izmir Cimento Fabrikalari TAS. Mr. Caltagirone serves as a Director at Caltagirone SpA. He serves as Director of Caltagirone Editore SpA since April 23, 2018. He served as Member of the Board of Directors of ACEA SpA.

CEO Compensation
  • Francesco's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Francesco's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Cementir Holding management team in years:

2.4
Average Tenure
  • The tenure for the Cementir Holding management team is about average.
Management Team

Francesco Caltagirone

TITLE
Chairman & CEO
COMPENSATION
€5M
AGE
51

Giovanni Luise

TITLE
Chief Financial Officer
TENURE
1.4 yrs

Giacomo Cornetti

TITLE
Chief Information Technology Officer
TENURE
2.6 yrs

Claudio Gioacchino Criscuolo

TITLE
General Counsel

Marco Bianconi

TITLE
Corporate Development
AGE
53
TENURE
3.4 yrs

Michele Marino

TITLE
Chief Sales

Alessandro Maniscalco

TITLE
Chief Human Resources Officer
TENURE
2.3 yrs

Paolo Zugaro

TITLE
General Manager
TENURE
2 yrs

Pasquale Vetrano

TITLE
Chief Global Procurement Officer
TENURE
2.8 yrs

Franco Doria

TITLE
Chief Internal Audit Officer
Board of Directors Tenure

Average tenure and age of the Cementir Holding board of directors in years:

8
Average Tenure
50
Average Age
  • The tenure for the Cementir Holding board of directors is about average.
Board of Directors

Francesco Caltagirone

TITLE
Chairman & CEO
COMPENSATION
€5M
AGE
51

Azzurra Caltagirone

TITLE
Vice Chairman of the Board
COMPENSATION
€11K
AGE
46
TENURE
0.5 yrs

Alessandro Caltagirone

TITLE
Vice Chairman of the Board
COMPENSATION
€8K
AGE
50
TENURE
0.5 yrs

Paolo Di Benedetto

TITLE
Independent Director
COMPENSATION
€72K
AGE
72
TENURE
8 yrs

Mario Delfini

TITLE
Director
COMPENSATION
€50K
AGE
79
TENURE
27.8 yrs

Saverio Caltagirone

TITLE
Director
COMPENSATION
€12K
AGE
48
TENURE
16.9 yrs

Edoardo Caltagirone

TITLE
Director
COMPENSATION
€10K
AGE
75
TENURE
27.8 yrs

Fabio Corsico

TITLE
Director
COMPENSATION
€236K
AGE
46
TENURE
12.3 yrs

Veronica De Romanis

TITLE
Independent Director
COMPENSATION
€52K
AGE
50
TENURE
5 yrs

Chiara Mancini

TITLE
Independent Director
COMPENSATION
€52K
AGE
47
TENURE
5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Aug 19 Sell Francesco Caltagirone Individual 12. Aug 19 12. Aug 19 -1,250,000 €5.93 €-7,412,500
13. Aug 19 Buy Francesco Caltagirone Individual 12. Aug 19 12. Aug 19 1,250,000 €5.93 €7,412,500
17. Jun 19 Sell Francesco Caltagirone Individual 13. Jun 19 13. Jun 19 -1,270,299 €6.04 €-7,672,606
17. Jun 19 Buy Francesco Caltagirone Individual 13. Jun 19 13. Jun 19 1,270,299 €6.04 €7,672,606
X
Management checks
We assess Cementir Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cementir Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

3PC News

Simply Wall St News

3PC Company Info

Description

Cementir Holding N.V., through its subsidiaries, produces and distributes grey and white cement, ready-mix concrete, aggregates, and concrete products in the Nordic and Baltic regions, Belgium, North America, Turkey, Egypt, the Asia Pacific, and Italy. The company offers various grey cement products and solutions that are used in construction industry; and white cement products and solutions for architectural, aesthetic, and structural applications. It also provides pre-stressed cement products that consists of structural components for the building and transport industries; aggregates, such as sand, gravel, or crushed stones; and value added products and solutions. In addition, the company purchases, sells, and manages clinker, cement, spare parts, pet-coke, coal, and other construction materials. Cementir Holding N.V. was incorporated in 1947 and is headquartered in Rome, Italy.

Details
Name: Cementir Holding N.V.
3PC
Exchange: DB
Founded: 1947
€819,468,000
159,120,000
Website: http://www.cementirholding.com
Address: Cementir Holding N.V.
200, Corso di Francia,
Rome,
Rome, 00191,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT CEM Ordinary Shares Borsa Italiana IT EUR 17. Nov 1980
DB 3PC Ordinary Shares Deutsche Boerse AG DE EUR 17. Nov 1980
LSE 0HY2 Ordinary Shares London Stock Exchange GB EUR 17. Nov 1980
BATS-CHIXE CEMM Ordinary Shares BATS 'Chi-X Europe' GB EUR 17. Nov 1980
Number of employees
Current staff
Staff numbers
3,042
Cementir Holding employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 02:59
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/03/09
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.