Climate risk summary for Heidelberg — Construction Materials, Germany
Heidelberg Materials is one of the world's largest building materials companies, producing cement, aggregates, and ready-mixed concrete. As a major cement producer, Heidelberg faces significant transition risks from carbon pricing and process emissions inherent to cement manufacturing, as well as physical climate risks to its global network of quarries and plants.
Greenhouse gas emissions across all scopes — current year and reduction trajectory
Emissions are modelled using machine learning models trained on reported emissions from 9,000+ public companies. Non-linear patterns are encoded into estimates using financial metrics as inputs.
Find out more here →Financial value at risk from transition and physical climate exposures
Financial impact of carbon pricing, regulatory costs, and market transition on company value
| Metric | 2025 Baseline | 2025 w/ Targets | 2030 Baseline | 2030 w/ Targets | 2050 Baseline | 2050 w/ Targets |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| EBITDA | -$697.9M | -$697.9M | -$1.6B | -$1.1B | -$9.7B | $0.0M |
| EBITDA Margin | -0.0% | -0.0% | -0.1% | -0.0% | -0.2% | 0.0% |
| EBIT | -$697.9M | -$697.9M | -$1.6B | -$1.1B | -$9.7B | $0.0M |
| Net Income | -$663.0M | -$663.0M | -$1.6B | -$1.0B | -$9.2B | $0.0M |
| Net Income Margin | -0.0% | -0.0% | -0.1% | -0.0% | -0.1% | 0.0% |
| Carbon Cost | ||||||
| Carbon Cost | $697.9M | $697.9M | $1.6B | $1.1B | $9.7B | $0.0M |
| Carbon Cost % Revenue | 0.0% | 0.0% | 0.1% | 0.0% | 0.2% | 0.0% |
| Carbon Cost Cash Outflow | $697.9M | $697.9M | $1.6B | $1.1B | $9.7B | $0.0M |
| NPV Carbon Costs | $33.4B | $11.7B | — | — | — | — |
| Balance Sheet & Credit | ||||||
| Total Assets | $0.0M | $0.0M | -$2.1B | -$1.6B | -$36.2B | -$7.8B |
| Total Debt | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Total Equity | $0.0M | $0.0M | -$2.1B | -$1.6B | -$36.2B | -$7.8B |
| Retained Earnings | $0.0M | $0.0M | -$2.1B | -$1.6B | -$36.2B | -$7.8B |
| Debt / EBITDA | 0.11 | 0.11 | 0.19 | 0.12 | 0.36 | 0.00 |
| Interest Coverage | -1.42 | -1.42 | -3.35 | -2.19 | -19.76 | 0.00 |
| Cash Flow | ||||||
| Free Cash Flow (Levered) | -$663.0M | -$663.0M | -$1.6B | -$1.0B | -$9.2B | $0.0M |
| Ending Cash Position | $0.0M | $0.0M | -$2.1B | -$1.6B | -$36.2B | -$7.8B |
| Valuation | ||||||
| Debt/EBITDA ratio | 0.11 | 0.11 | 0.19 | 0.12 | 0.36 | 0.00 |
| EV/EBITDA Valuation | -$2.6B | -$2.6B | -$5.0B | -$3.3B | -$13.5B | $0.0M |
| P/E Valuation | -$3.4B | -$3.4B | -$6.2B | -$4.1B | -$14.9B | $0.0M |
| EV Erosion (DCF) | -$0.7M | -$0.3M | — | — | — | — |
| Blended TVaR | -$3.0B | -$3.0B | -$5.6B | -$3.7B | -$14.2B | $0.0M |
Enterprise value at risk from acute and chronic physical climate hazards
Climate hazard exposure across 53 assets — average annual loss by peril and scenario
AAL represents the expected financial loss from a physical hazard in any given year, averaged across all possible event intensities and their probabilities. It is derived from hazard models that combine historical climate data with forward-looking scenario projections, applied to each asset's location, construction type, and replacement value. Baseline AAL reflects current climate conditions; Scenario AAL incorporates projected shifts in hazard frequency and severity under each warming pathway.
Find out more here →| Asset | Value | Wildfire AAL | Cyclone AAL | Coastal Flood AAL | River Flood AAL | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baseline | RCP 4.5 | RCP 8.5 | Baseline | RCP 4.5 | RCP 8.5 | Baseline | RCP 4.5 | RCP 8.5 | Baseline | RCP 4.5 | RCP 8.5 | ||
| Bicaz Cement Plant | $38M | $401K | $611K | $626K | — | — | — | — | — | — | — | — | — |
| Heidelberg Logansport Cement Plant | $16M | — | — | — | — | — | — | — | — | — | $196K | $60K | $55K |
| Brevik Cement Plant | $550M | $3K | $6K | $8K | — | — | — | — | — | — | $146K | — | — |
| Heidelberg Delta Cement Plant 2 | $15M | $1K | $9K | $10K | — | — | — | $104K | $112K | $121K | $5K | $8K | $11K |
| Fieni Cement Plant | $32M | $76K | $121K | $128K | — | — | — | — | — | — | — | — | — |
| Beremend Cement Plant | $18M | $0K | $0K | $0K | — | — | — | — | — | — | $49K | $14K | $8K |
| Colleferro Cement Plant | $19M | $30K | $45K | $59K | — | — | — | — | — | — | — | — | — |
| Chiscadaga Cement Plant | $21M | $27K | $78K | $91K | — | — | — | — | — | — | $0K | $0K | $0K |
| Cagnano Amiterno Cement Plant | $6.00M | $16K | $24K | $31K | — | — | — | — | — | — | — | — | — |
| HeidelbergCement Bukhtarma Cement Plant | $18M | $11K | $13K | $12K | — | — | — | — | — | — | — | — | — |
| Helwan Cement Plant | $102M | $6K | $7K | $7K | — | — | — | — | — | — | $3K | — | $16K |
| Zuari Cement Sitapuram Cement Plant | $17M | $4K | $3K | $3K | $1K | $0K | $0K | — | — | — | $3K | $4K | $21K |
| Heidelberg Leeds Cement Plant | $16M | $8K | $10K | $10K | — | $0K | $0K | — | — | — | — | — | — |
| Zuari Cement Yerraguntla Cement Plant | $69M | $7K | $7K | $7K | $1K | $2K | $1K | — | — | — | — | — | — |
| Guardiaregia Cement Plant | $5.00M | $7K | $10K | $13K | — | — | — | — | — | — | — | — | — |
| Couvrot Cement Plant | $13M | — | — | — | — | — | — | — | — | — | $6K | — | $0K |
| Tura Cement Plant | $51M | $2K | $2K | $2K | — | — | — | — | — | — | $2K | — | $7K |
| Vac Cement Plant | $10M | $3K | $5K | $5K | — | — | — | — | — | — | — | — | — |
| Bussac Cement Plant | $7.00M | $3K | $5K | $6K | — | $0K | $0K | — | — | — | — | — | — |
| Beaucaire Cement Plant | $9.00M | $1K | $3K | $3K | — | — | — | — | — | — | $1K | $1K | $1K |
| Matera Cement Plant | $17M | $2K | $2K | $3K | — | — | — | — | — | — | — | — | — |
| Samatzai Cement Plant | $12M | $2K | $2K | $2K | — | — | — | — | — | — | — | — | — |
| Lengfurt Cement Plant | $13M | $0K | $1K | $2K | — | — | — | — | — | — | $1K | $1K | $1K |
| Beffes Cement Plant | $5.00M | $0K | $0K | $0K | — | — | — | — | — | — | $1K | $1K | $1K |
| HeidelbergCement Shymkentcement Plant | $17M | $1K | $1K | $1K | — | — | — | — | — | — | — | — | — |
| Rezzato-Mazzano Cement Plant | $17M | $0K | $1K | $1K | — | — | — | — | — | — | — | — | — |
| Lukala Cement Plant | $5.00M | $0K | $1K | $1K | — | — | — | — | — | — | — | — | — |
| Tavernola Bergamasca Cement Plant | $8.00M | $0K | $1K | $1K | — | — | — | — | — | — | — | — | — |
| Cairo Governorate Desert Cement Plant | $19M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Lixhe Cement Plant | $19M | $0K | $0K | $1K | — | — | — | — | — | — | $0K | $0K | $0K |
| Antoing Cement Plant | $10M | — | — | — | — | — | — | — | — | — | $0K | $0K | $0K |
| Paderborn Cement Plant | $5.00M | $0K | $0K | $0K | — | — | — | — | — | — | $0K | $0K | $0K |
| Hannover Cement Plant | $9.00M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Villiers-au-Bouin Cement Plant | $5.00M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Slantsevsky Cement Plant Tsesla | $15M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Heidelberg Geseke Cement Plant | $11M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Heidelberg Fleetwood Cement Plant | $28M | — | — | — | $0K | $0K | $0K | — | — | — | — | — | — |
| Calusco d'Adda Cement Plant | $19M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Suez Cement Attaka Plant | $41M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Ennigerloh Cement Plant | $13M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Heidelberg Nazareth Cement Plant | $34M | $0K | $0K | $0K | $0K | $0K | $0K | — | — | — | — | — | — |
| Isola del femmine Cement Plant | $11M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| HeidelbergCement CaspiCement Plant | $10M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Schelklingen Cement Plant | $18M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Heidelberg Mason City Cement Plant | $10M | $0K | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Picton Cement Plant | $10M | — | — | — | — | $0K | $0K | — | — | — | — | — | — |
| Edmonton Cement Plant | $18M | — | — | — | — | — | — | — | — | — | — | — | — |
| Kjopsvik Cement Plant | $6.00M | — | — | — | — | — | — | — | — | — | — | — | — |
| Heidelberg Mitchell Cement Plant | $31M | — | $1K | $3K | — | — | — | — | — | — | — | — | — |
| Burglengenfeld Cement Plant | $14M | — | $0K | $0K | — | — | — | — | — | — | — | — | — |
| Airvault Cement Plant | $26M | — | — | — | — | $0K | — | — | — | — | — | — | — |
| Heidelberg Union Bridge Cement Plant | $36M | — | — | — | — | $1K | $2K | — | — | — | — | — | — |
| Ranville Cement Plant | $6.00M | — | — | — | — | $0K | $0K | — | — | — | — | $0K | — |