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HEIDELBERGCEMENT AG

(HEI)
  Report
Delayed Quote. Delayed Xetra - 07/29 11:35:03 am
75.38 EUR   +0.11%
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HeidelbergCement : Sustainability Report 2020

06/14/2021 | 04:39am EDT

Company

Strategy &

Business &

Product &

Production &

Employees &

Society & Corporate

Targets Appendix

Portrait

Management

Compliance

Innovation

Supply Chain

Employment

Responsibility

Taking responsibility.

Securing opportunities.

Sustainability Report 2020

Company

Strategy &

Business &

Product &

Production &

Employees &

Society & Corporate

Targets Appendix

Portrait

Management

Compliance

Innovation

Supply Chain

Employment

Responsibility

Dr. Dominik von Achten

Chairman of the Managing Board

Introduction

Ladies and Gentlemen,

For all of us, 2020 was marked by the COVID-19 pandemic. We stopped all travel early on, switched to mobile working wherever possible, and took all necessary measures to minimise the impact of the pandemic. Above all, the extensive exchange of our occupational health and safety expertise across all Group areas has enabled us to ensure the best possible protection of HeidelbergCement's employees, customers, and service providers. With training and information campaigns on the importance of hygiene measures in the workplace, more than half of all our company's training activities in 2020 were devoted to the topic of occupational safety.

Despite the challenging situation regarding COVID-19, the dynamism of the debate on climate protection and corporate sustainability reached new heights in 2020: as a company in the energy- intensive cement industry, a large proportion of the emissions from our production processes have been unavoidable to date. We held extensive, open and sometimes controversial discussions in 2020 with our own employees and also with you, our stake- holders, on how HeidelbergCement will address this challenge.

We are continuously enhancing our sustainability reporting in order to further increase transparency towards our stakeholders: Since September 2020, we are an official supporter of the Task

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HeidelbergCement I Sustainability Report 2020

Company

Strategy &

Business &

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Production &

Employees &

Society & Corporate

Targets Appendix

Portrait

Management

Compliance

Innovation

Supply Chain

Employment

Responsibility

Force on Climate-related Financial Disclosures (TCFD) and have for the first time integrated a TCFD report into this Sustainability Report in accordance with the recommendations on climate- related reporting.

CO2 savings targets significantly tightened

We have placed a high priority on addressing the issue of sustainability as part of our Group strategy "Beyond 2020". We signifi- cantly tightened our CO2 reduction targets in 2020: by 2025, we aim to reduce specific net CO2 emissions to below 525 kg per tonne of cementitious material. This corresponds to a reduction of 30% compared with 1990. Our intention is to reduce this figure to below 500 kg of CO2 per tonne of cementitious material by 2030.

In order to achieve carbon neutrality by 2050 at the latest, we are focusing on the intelligent combination of existing reduction measures and research into new technologies. Our industrial scaling of CO2 reduction and capture technologies in particular is making great strides. Several carbon capture and utilisation/ storage (CCU/S) projects are currently entering the next phase. Our project in Brevik, Norway, the world's first industrial-scale CCS project in the cement industry, is scheduled to start regular operation by 2024. In Slite, Sweden, we are going one step further: by 2030, we intend to operate the world's first carbon- neutral cement plant there. The LEILAC 2 pilot project aims to implement LEILAC technology on an industrial scale at our cement plant in Hanover, Germany, by 2025.

"After having gained valuable experience with CCU/S technologies in Norway and other countries, we are taking the next step with a completely carbon-neutral cement plant in Sweden. This will be a game changer for our industry."

Dr. Dominik von Achten

Chairman of the Managing Board

Sustainability performance enshrined in remuneration

We have consistently enshrined our CO2 reduction targets in our global bonus system. The full variable remuneration can only be achieved if both the financial targets and the sustainability target are met. This regulation has applied to all members of the Managing Board and to every bonus-eligible employee worldwide since the start of the 2021 financial year. We believe that this sends a strong message to the outside world. We see this as a strong message to our internal and external audiences that we take our sustainability goals very seriously.

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HeidelbergCement I Sustainability Report 2020

Company

Strategy &

Business &

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Production &

Employees &

Society & Corporate

Targets Appendix

Portrait

Management

Compliance

Innovation

Supply Chain

Employment

Responsibility

"We have anchored our CO2 reduction targets in the remuneration systems across the Group. The full bonus can only be achieved if both the financial targets and the sustainability target are met."

Dr. Dominik von Achten

Chairman of the Managing Board

As a partner of the United Nations Global Compact (UN GC), we have declared our express commitment to its ten principles in the areas of environmental protection, corruption prevention, labour standards, and human rights, and will take these into account and promote them within our corporate strategy as well as in all our business activities. In this context, we revised our Code of Business Conduct in 2020 and published a new version in January 2021 that makes the importance of human rights and sustainability aspects in particular even clearer.

offensive across all business lines and Group areas, since as one of the world's leading building materials producers we have the ambition and the innovative strength to become the first industrial technology group in the building materials sector.

It is our declared goal to shape the path to CO2 neutrality in a pioneering role. To further drive the essential transformation of the company, we are creating two new Managing Board positions for the topics of sustainability and digitalisation.

We are pursuing this path of change with great commitment and openness, and in close dialogue with our stakeholders. I look forward to your continued support on this journey in 2021, as our shareholders, customers, employees, suppliers, and business partners or representatives of local communities and society.

Yours sincerely,

Dr. Dominik von Achten

Chairman of the Managing Board

Leading the way to climate neutrality

With i.tech® 3D, we delivered an innovative concrete for the first printed residential buildings in Germany in 2020 - just one example of the many ways in which we are demonstrating our commitment to sustainable construction. Within the framework of our "Beyond 2020" strategy, we have launched a digitalisation

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HeidelbergCement I Sustainability Report 2020

Contents

Cover Image:

View from the Brevik cement plant, Norway.

Company

Strategy &

Business &

Product &

Production &

Employees &

Society & Corporate

Targets Appendix

Portrait

Management

Compliance

Innovation

Supply Chain

Employment

Responsibility

How to find your way through the report

To make it easier for you to navigate through the report, we have added links to this PDF file. In the bar at the top edge of the page, you can jump to the individual chapters from any page. The icons operate similarly to those on a website. You can also directly access the chapters from the table of contents.

Table of contents

Go forward/back

Link to HeidelbergCement website

Link to the specified page or website

Company

Strategy &

Business &

Product &

Production &

Portrait

Management

Compliance

Innovation

Supply Chain

08

Organisational structure

13

Vision & mission

35

Legal compliance

42

Focus on customers

52

Environmental management

09

Value chain

13

Sustainability Commitments 2030

35

Business performance

43

Research & technology

52

Energy & climate protection

10

Vertical integration

15

Significant reduction in emissions

37

Compliance management

47

Sustainable construction

59

Alternative fuels

by 2030

39

Risk and opportunity

60

Land use & biodiversity

16

Our path to carbon neutrality

management

62

Local environmental impact

by 2050

66

Management of supplier

17

Responsibility & organisation

relations

18

Challenges & strategy

19

Stakeholder engagement

23

Materiality analysis

25

TCFD report

Employees &

Society & Corporate

Targets

Appendix

Employment

Responsibility

69

Principles

82

Social responsibility

86

Strategy & Management

92

Key figures

70

Employment &

83

Social engagement at our

86

Business & Compliance

102

About this report

co-determination

locations

87

Product & Innovation

103

GRI content index

70

Remuneration policy &

87

Production & Supply Chain

109

Imprint

working time regulation

89

Employees & Employment

71

Occupational health & safety

90

Society & Corporate Responsibility

74

Human resources development

77

Diversity management

05

HeidelbergCement I Sustainability Report 2020

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

HeidelbergCement AG published this content on 14 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2021 08:38:01 UTC.


ę Publicnow 2021
All news about HEIDELBERGCEMENT AG
07/29HEIDELBERGCEMENT AG : Jefferies gives a Buy rating
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07/29HEIDELBERGCEMENT AG : JP Morgan gives a Neutral rating
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07/29HEIDELBERGCEMENT AG : Buy rating from Berenberg
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07/29HEIDELBERGCEMENT AG : UBS keeps its Buy rating
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07/29HEIDELBERGCEMENT AG : JP Morgan reiterates its Neutral rating
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07/29HEIDELBERGCEMENT AG : Deutsche Bank gives a Buy rating
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07/29HEIDELBERGCEMENT AG : Barclays gives a Neutral rating
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Financials
Sales 2021 18 529 M 22 008 M 22 008 M
Net income 2021 1 578 M 1 875 M 1 875 M
Net Debt 2021 5 290 M 6 284 M 6 284 M
P/E ratio 2021 9,45x
Yield 2021 3,32%
Capitalization 14 957 M 17 780 M 17 765 M
EV / Sales 2021 1,09x
EV / Sales 2022 1,01x
Nbr of Employees 53 122
Free-Float 74,5%
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Technical analysis trends HEIDELBERGCEMENT AG
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 75,38 €
Average target price 88,31 €
Spread / Average Target 17,2%
EPS Revisions
Managers and Directors
Ralph Dominik von Achten Chairman-Management Board
Lorenz Nńger CFO, Deputy Chairman-Management Board
Fritz-JŘrgen Heckmann Chairman-Supervisory Board
Dennis Lentz Director-Group Information Technology
Wolfgang Dienemann Director-Global Research & Development
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