Strong first half performance for HeidelbergCement
Tuesday, July 30, 2019 - 11:52
Company enjoys increase in revenue and sales volumes to the end of June 2019
HeidelbergCement have reported a positive start to the year with revenue up 9% to €9.2 billion (previous year: €8.4 billion) for the six months to 30 June 2019, thanks to solid demand and price increases across the company’s operating markets.
‘Despite a persistently challenging environment, we increased our revenue and result in the first half of 2019,’ said Dr Bernd Scheifele (pictured), chairman of the managing board. ‘In general, the market dynamics weakened slightly in the second quarter in comparison with the first quarter. Nevertheless, we were able to improve our result in the second quarter because of our strong global positioning.
‘Good margins in Asia, as well as Western and Southern Europe, more than compensated for the weaker business due to adverse weather conditions in North America and the Africa-Eastern Mediterranean Basin Group area.’
Before depreciation and amortization, the result from current operations rose by 21% to €1.4 billion (2018: €1.2 billion).
Looking ahead to the rest of year, Dr Scheifele said the general outlook for construction in the world markets continues to be positive for the business. The company anticipates a rise in sales volumes for cement, aggregates and ready-mixed concrete.
He commented: ‘We are confident about the second half of the year. We will continue to focus on our action plan to accelerate portfolio optimization and increase our margins as well as cash flow.’