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BREE Breedon Group Plc

466.50
14.50 (3.21%)
22 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Breedon Group Plc LSE:BREE London Ordinary Share GB00BM8NFJ84 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  14.50 3.21% 466.50 767,422 16:35:03
Bid Price Offer Price High Price Low Price Open Price
467.00 468.00 470.00 453.50 459.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:03 UT 310,554 466.50 GBX

Breedon (BREE) Latest News

Breedon (BREE) Discussions and Chat

Breedon Forums and Chat

Date Time Title Posts
21/11/202410:12Breedon Holdings Limited (was Marwyn Materials)1,290

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Breedon (BREE) Most Recent Trades

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Trade Time Trade Price Trade Size Trade Value Trade Type

Breedon (BREE) Top Chat Posts

Top Posts
Posted at 30/10/2024 14:07 by weemonkey
This Budget should be very good for BREE one would think
Posted at 29/7/2024 16:01 by robow
from Citywire
Deutsche: New growth runway at ‘resilientR17; Breedon

Breedon (BREE) is showing ‘resilience in the face of challenging conditions’, says Deutsche Bank.

Analyst Christen Hjorth retained his ‘buy’ recommendation and target price of 520p on the Citywire Elite Companies AA-rated construction materials group, which gained 1.6% to 413.6p on Friday.

It reported ‘robust’ first-half results in a ‘weather-impacted half’, with earnings up 2%, moderately ahead of Hjorth’s forecast.

‘Management points to its full-year expectations remaining unchanged,’ he said. ‘We therefore retain our [pre-tax earnings] forecasts, although earnings per share nudges up modestly due to lower finance costs and tax.

Hjorth calculated that Breedon trades on a 2024 price to earnings ratio of 13 times and a dividend yield of 4%.

‘We view these as attractive valuation metrics for a company with scope for a meaningful volume recovery and margin normalisation, alongside a new potential US growth runway.’
Posted at 24/7/2024 14:58 by swiss paul
Breaking down you mean!
What a load of guff
BREEDON GROUP PLC

Interim results 2024



Strategic progress delivers a resilient performance

BMC trading ahead of plan; integration progressing well

Management expectations for the full year unchanged



Breedon Group plc (Breedon or the Group), a leading vertically-integrated construction materials group in Great Britain, Ireland and the United States, announces unaudited results for the six months ended 30 June 2024.





Statutory highlights



Underlying1highlights



£m

except where stated

H1 2024

H1 2023

% change



H1 2024

H1 2023

% change

% LFL2



Revenue

764.6

742.7

3%



764.6

742.7

3%

(6)%



EBITDA3

103.4

103.9

-



118.1

112.3

5%

(5)%



EBITDA3 margin

13.5%

14.0%

(50)bps



15.4%

15.1%

30bps





EBIT4

56.9

62.1

(8)%



71.6

70.5

2%

(9)%



EBIT4 margin

7.4%

8.4%

(100)bps



9.4%

9.5%

(10)bps





Profit Before Tax

46.5

56.5

(18)%



61.2

64.9

(6)%





Basic EPS5

10.0p

13.0p

(23)%



13.9p

15.3p

(9)%





Dividend per share









4.5p

4.0p

13%





Net Debt6









472.3

220.4

114%



Covenant Leverage7









1.6x

0.7x

0.9x



ROIC8









8.8%

10.0%

(120)bps







FINANCIAL HIGHLIGHTS



Third platform launch and resilient pricing offset weather impact and market headwinds

· Revenue increased 3% supported by our entry into the US

· Pricing contributed 2ppt, offset by 8ppt volume reduction which principally reflects wet weather conditions across the Group and challenging markets in GB

· Underlying EBIT increased 2% backed by disciplined operational efficiency and cost recovery



Financial position retains strategic flexibility

· Covenant Leverage increased to 1.6x; remains comfortably within our target range of 1x to 2x

· RCF refinanced; securing access to longer-term finance and greater liquidity with incremental reduction in ongoing debt service costs

· Seasonal working capital outflow as expected

· Post-tax ROIC 8.8%; reflecting short-term dilution from the BMC acquisition and impact of increased corporate tax rates

Interim dividend increased to 4.5p; demonstrating confidence in the long-term growth outlook

OPERATING HIGHLIGHTS
Operational performance benefitted from flexible local model and agile execution

· GB revenue decreased 5%; robust surfacing performance and modest price progression, partially offset by volume declines related to the more challenging market. Underlying EBIT down 17%, impacted by operational gearing

· Strong performance in Ireland where Underlying EBIT improved by 37%; successful tendering season and healthy order book with growing activity levels following resumption of the governing Assembly at Stormont

· BMC trading ahead of prior year and plan; contributing nearly four months of revenue and earnings with healthy markets and a robust order book

· Cement Underlying EBIT margin improved to 15.2%; soft volumes offset by resilient pricing, lower energy costs and increased provision of lower clinker content cement



STRATEGIC HIGHLIGHTS



Active M&A pipeline in all geographies

· Launched a scalable third platform in the fragmented and growing US construction materials market through the acquisition of BMC

· M&A pipeline across the three platforms remains well populated and active, completing two bolt-on transactions in GB



Sustainability agenda succeeding

· Reinvigorated our health, safety and wellbeing strategy, promoting a proactive safety culture with clearer and firmer rules focused on risk elimination

· First CDP ratings awarded (Climate Change: B, Water Security: C) and targets submitted to SBTi for formal validation

· Continue to decarbonise the cement business; increased use of alternative fuels, solar farm construction commenced at Kinnegad, increased sales of CEM II, and further progress on Peak Cluster



Strategic initiatives and investment drive operational excellence

· Quarry operational improvement programme being implemented from 'face to gate', delivering efficiencies and process improvements

· BMC integration progressing well; investment made in health and safety, quarry optimisation, technology and sustainability


CURRENT TRADING AND OUTLOOK
Growth expected in all our markets from 2025 as economic and political landscape stabilises

· The new UK Government's growth agenda appears supportive of the construction market, in particular housebuilding and infrastructure. Alongside the resumption of a governing Assembly at Stormont, these are encouraging developments

· In RoI, where we have secured positions on high-profile road projects, recent reports reinforce the long-term structural need for housing and infrastructure investment

· In the US, market fundamentals and long-term growth prospects are underpinned by significant infrastructure and housing deficits alongside robust stimulus funding and healthy state budgets

· All our markets are expected to benefit from falling interest rates in the months ahead

· Our healthy balance sheet provides us with the strategic flexibility to invest for growth, maintain our progressive dividend policy and execute bolt-on acquisitions across each platform

· Management expectations for the full year remain unchanged with Underlying EBIT slightly more weighted towards the second half than is typical
Rob Wood, Chief Executive Officer, commented:

"For the team to deliver such a resilient performance given the challenging GB market conditions we have faced is an incredible achievement.

"We achieved a major strategic objective in March, entering the US and establishing our third platform with the transformative acquisition of BMC, creating the foundation from which we will build out our US business. We expanded our routes to market, delivering two bolt-on transactions in GB, and growing organically through our downstream businesses, pulling through more of our own material. We moved our sustainable growth strategy forward on all fronts in the first half of 2024 and were pleased to see this recognised by CDP with our first ratings placing us at the forefront of our sector for Climate Change and Water Security.

"During this time the quality and flexibility of the Breedon team, of whom I am incredibly proud, have kept us close to our customers, accelerated our drive for efficiencies, and strengthened our operations. As the economic and political clouds clear in GB, our markets will return to growth in time and we will be well placed to grow and succeed.



Posted at 22/5/2024 05:48 by undervaluedassets
According to my sharescope they have holdings amounting to circa 38% of the equity.

Ready to stand corrected (Sharescope can get these things wrong)

Blackrock have a chunk too.. 9%

Anyway what do these high rollers want to do with all this equity - management buyout? takeover?

As I said there is something going on..

Can't blame them.. BREE Great business that has been largely snubbed by the market for years despite pleasing results.

If silly UK investors don't want it .. someone else will gladly steal it from them for a few pieces of silver.
Posted at 18/5/2024 14:55 by brucie5
Wot, no comment? Just noticed this in the FT dir dealings and thought I'd take a look. That's a big purchase.

--------------------------------------------------------------------------

Notification of transactions by Directors/Persons Discharging Managerial Responsibilities (PDMR) and Persons Closely Associated with them (PCA)



The Company has been notified that on 9 May 2024 Abicad Holding Limited a PCA of Amit Bhatia, Non-executive Chair of Breedon Group plc and PDMR, bought 1,100,000 ordinary shares of £0.01 each (Shares) in the Company, at an aggregate price of £3.8275 per share.



This notificatio
Posted at 26/4/2024 18:40 by swiss paul
thanks XAMF, sometimes it helps us less educated if you can put some context around the chart.

your retrace might be helped by piggies being in the trough
The Company announces that on 25 April 2024 the following PDMRs were each granted conditional awards under the Company's Performance Share Plan (PSP awards) in respect of the three-year performance period (2024 to 2026), to acquire the number of ordinary shares of £0.01 in the Company (Ordinary Shares) set against their names in the table below. The PSP awards will normally vest on 25 April 2027, subject to continued employment and the satisfaction of the undernoted performance conditions. In addition, any resulting shares will be subject to a further holding period of two years from the date of vesting.



Director & PDMR

Role

Ordinary Shares subject to PSP award

Rob Wood

Chief Executive Officer

366,739

James Brotherton

Chief Financial Officer

217,061



Performance measure

Weighting

Calibration of targets

Percentage of part of PSP award capable of vesting

EPS

42.5%

Company's fully diluted underlying EPS for 2026

Less than 37.50 pence

37.50 pence

Between 37.50 pence and 40.40 pence

40.40 pence

Between 40.40 pence and 44.44 pence

44.44 pence or more

0%

25%

Pro-rata straight-line basis
between 25% and 50%

50%

Pro-rata straight-line basis
between 50% and 100%

100%

Relative TSR

42.5%

Company's TSR ranking relative to constituents of the FTSE 250 Index (excluding investment trusts)

Below median

Median

Between median and upper quartile

Upper quartile or better

0%

25%

Pro-rata straight-line basis
between 25% and 100%

100%

Sustainability - Reduction of Core Carbon Intensity*

15%

% reduction of Core Carbon Intensity during the three year performance period

Below 4.95%

4.95%

Between 4.95%

and 6.6%

6.6%

Between 6.6% and 8.25%

8.25% or better

0%

25%

Pro-rata straight-line basis
between 25% and 50%

50%

Pro-rata straight-line basis
between 50% and 100%

100%



* Core Carbon Intensity measures reductions in carbon intensity per tonne of core product sold.



not exactly taxing are they
Posted at 26/4/2024 07:16 by xamf
Swiss Paul. No digestive tracts need to be exposed in response to my chart. It shows the FIB retracement levels should (heaven forbid) Bree falls back from current levels. Don't currently hold but Bree is on my watchlist.
Posted at 24/4/2024 08:08 by my retirement fund
I don't think it took a rocket scientist to work that one out, but then the worsening macroeconomics is something the management should have flagged and indeed been flagging for the last 8 years on the trott since Brexit basically. If the were following a sensible tack, eg saying stuff like we are consolidating out British operations to realise cost savings and we are investing in more profitable European and American operations and if the were actually doing that well. The share price would be a lot higher!
Posted at 03/10/2023 09:09 by swiss paul
Investor site visit
Breedon Group plc, a leading vertically-integrated construction materials group in Great Britain and Ireland, is today hosting a site visit for investors and analysts at its Wickwar Quarry near Bristol.

Hosted by Rob Wood, CEO, and James Brotherton, CFO, the day will provide a better understanding of the vertically-integrated business model, including presentations from colleagues across our Great Britain business, and a site tour.

The presentation will be available under the investor relations section of the Breedon website:Investors - Breedon (breedongroup.com).

No new material trading information will be disclosed.

Ha Ha and on tha t annoucnement the old sleepy share went up - Quelle surprise.

Anyway it brings me closer to my get out price - Marshalls - far better company - that is where my money is heading
Posted at 04/7/2022 19:32 by tole
https://www.fool.co.uk/2022/07/04/heres-why-this-aim-listed-stock-could-be-one-of-the-best-shares-to-buy/Here's why this AIM-listed stock could be one of the best shares to buy!This Fool is looking for the best shares to buy. Despite macroeconomic issues, this stock could be a great long-term buy for his holdings.Jabran Khan?Published 4 July, 4:39 pm BSTBREEFinding the best shares to buy now is not an easy task. I look for businesses that provide products and services to burgeoning markets that could give stable and consistent investor returns. One stock that could fall into that category is Breedon (LSE:BREE). Should I add the shares to my holdings?Construction materials and infrastructureAs a quick reminder, Breedon is a construction materials business with operations in the UK and Ireland. Some of the materials it produces include cement, aggregates, concrete, and asphalt, as well as other specialist construction products. Furthermore, it also offers contracting services for large infrastructure projects such as building roads.So what's happening with Breedon shares currently? Well, as I write, they're trading for 59p, as a penny stock. At this time last year, the stock was trading for 110p, which is a 46% drop over a 12-month period.Many shares have fallen in recent months due to macroeconomic headwinds as well as the tragic events in Ukraine.The best shares to buy have risks tooThe biggest threat to Breedon's investment viability, especially in the shorter term, is that of macroeconomic factors. Soaring inflation, the rising cost of raw materials as well the supply chain crisis will have an impact on operations, as well as profitability. This could affect its balance sheet and growth plans as well as shareholder returns.Competition in the construction industry is intense. There are many players all vying for the same customers and contracts to boost their coffers and grow. Breedon could be out-muscled and outmanoeuvred by competitors with more financial power and presence.The bull caseThe construction market is a growing one. In fact, it wasn't majorly disrupted when the pandemic struck. Governments allowed construction businesses to continue as best they could, unlike many others, and continue building where it was safe to do so. As well as this, demand for housing is currently outstripping supply. A lot goes into building homes and lots of different types of aggregates that Breedon supplies are required. In the longer term, Breedon could see this surge in construction spending turn into performance growth and investor returns.At current levels, Breedon shares look decent value for money on a price-to-earnings ratio of just 12. Furthermore, the shares would boost my passive income through dividend payments. The shares currently yield 2.8%. Most of my best shares to buy boost my passive income stream. It is worth remembering, however, that dividends can be cancelled at the discretion of the business at any time.Breedon already has a good track record of performance, even in the pandemic period. It has recorded consistent revenue and profit in the past four years. I do understand that past performance is not a guarantee of the future.Overall, I think Breedon could be a shrewd addition to my holdings, especially as the shares have fallen back in recent months. Large scale construction spending on infrastructure by the government as well as initiatives to boost the number of homes should benefit a business like Breedon. I would add the shares to my holdings and expect to see consistent and stable returns.
Breedon share price data is direct from the London Stock Exchange

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