HeidelbergCement report 2011 results

Company’s full-year revenue up 9.7% while operating income before depreciation rises by 3.6%

IN their preliminary and unaudited figures for the full-year 2011, HeidelbergCement have reported a 9.7% increase in revenue to €12.9 billion, compared with 2010. Operating income before depreciation was up 3.6% to €2.32 billion.

HeidelbergCement said the improvements reflected the continued growth in the company’s emerging markets and the ongoing recovery of its mature markets in North America and Europe after having reached the bottom of the crisis in 2010.

Sales volumes in Europe benefited from mild winter weather both at the beginning and end of 2011, while continued cost-saving efforts contributed to the increase in operating income before depreciation, despite a significantly larger than expected rise in energy costs in the first half of 2011 following the Fukushima accident.

Commenting on the results, Dr Bernd Scheifele (pictured), chief executive officer of HeidelbergCement, said: ‘We are pleased that we achieved our goal of increasing revenue and operating income in 2011 despite the significant surge in energy costs earlier in the year.

‘Once again we were able to reap the benefit from our advantageous geographical positioning in growth markets and the successful continuation of our efficiency and cost-saving programmes.

‘Furthermore, we laid the foundations for future growth with our investments in attractive markets in Eastern Europe, Asia and Africa.’