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18 Mar 2022
17th Basic Materials Conference Guide
Compagnie de Saint-Gobain SA (SGO:PAR), 0 | Wienerberger AG (WIE:WBO), 0 | CRH public limited company (CRH:LON), 6,247 | Heidelberg Materials AG (HEI:ETR), 0 | Sika AG (SIKA:SWX), 0 | Vicat SA (VCT:PAR), 0 | Holcim Ltd (HOLN:SWX), 0 | Travis Perkins plc (TPK:LON), 717 | Vulcan Materials Company (VMC:NYS), 0 | Cemex SAB de CV Sponsored ADR (CX:NYS), 0 | Martin Marietta Materials, Inc. (MLM:NYS), 0 | Eagle Materials Inc. (EXP:NYS), 0 | Summit Materials, Inc. Class A (SUM:NYS), 0 | Martin Marietta Materials, Inc. (0JZ0:LON), 0 | Summit Materials, Inc. Class A (0LAI:LON), 0 | Vicat SA (0MGJ:LON), 0 | Vulcan Materials Company (0LRK:LON), 0 | Wienerberger AG (0MKZ:LON), 0
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17th Basic Materials Conference Guide
Compagnie de Saint-Gobain SA (SGO:PAR), 0 | Wienerberger AG (WIE:WBO), 0 | CRH public limited company (CRH:LON), 6,247 | Heidelberg Materials AG (HEI:ETR), 0 | Sika AG (SIKA:SWX), 0 | Vicat SA (VCT:PAR), 0 | Holcim Ltd (HOLN:SWX), 0 | Travis Perkins plc (TPK:LON), 717 | Vulcan Materials Company (VMC:NYS), 0 | Cemex SAB de CV Sponsored ADR (CX:NYS), 0 | Martin Marietta Materials, Inc. (MLM:NYS), 0 | Eagle Materials Inc. (EXP:NYS), 0 | Summit Materials, Inc. Class A (SUM:NYS), 0 | Martin Marietta Materials, Inc. (0JZ0:LON), 0 | Summit Materials, Inc. Class A (0LAI:LON), 0 | Vicat SA (0MGJ:LON), 0 | Vulcan Materials Company (0LRK:LON), 0 | Wienerberger AG (0MKZ:LON), 0
- Published:
18 Mar 2022 -
Author:
Bromehead Yves YB | Roger Paul PR | Speak George GS | Whitworth Robert RW -
Pages:
52
Looking ahead to the 17th Basic Materials Conference 22-24 March
In this guide we provide an overview of the 13 building materials companies that are participating. We suggest 10 questions on each name. We hope the event will help us answer five big questions.
Question 1: how could the Russia-Ukraine crisis impact growth and profitability?
Some companies have direct exposure and the spectre of stagflation looms large. How will different companies perform in a low-growth, high-cost environment? Many restructured in response to the GFC and COVID-19. It will be interesting to hear what self-help there is left.
Question 2: is pricing power strong enough to pass on spiking inflation?
The market seems comfortable that aggregates and some lightside names can hike prices, but will it be enough to protect margins? And what about cement, where investors appear more nervous? Companies will update us on the latest pricing trends, cost structure and hedging positions.
Question 3: could stimulus boost growth?
Big infrastructure spending plans have been announced around the world, including President Biden''s USD1.2tn package, and many countries also hope to incentivise higher renovation spending. We will hear what impact the companies expect stimulus to have, and when.
Question 4: is more MandA on the cards?
We saw several big deals in the sector last year. Could stagflation create new opportunities, or will rising rates end the party? Absent MandA, it will be useful to know capital allocation priorities.
Question 5: how will different companies cut CO2 and what will it cost?
We think the market is too bearish on remedies that can make a significant difference without vast capex, such as Concrete tech for the heavyside. Will companies agree? ESG isn''t all about CO2 either. Companies will have the opportunity to outline their broader sustainability strategies.