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HeidelbergCement has published preliminary results for 2019

Published by , Deputy Editor
World Cement,

HeidelbergCement has published the following preliminary, unaudited figures for sales volumes, revenue, results from current operations before and after depreciation and amortisation, as well as net debt for business year 2019.

Cement and clinker sales volumes fell by 3.1% in 2019 to 125.9 million t. Excluding consolidation effects, cement and clinker sales volumes were 1.6% below the previous year. Aggregates sales volumes were just under the previous year’s level, at 308.3 million t. Excluding consolidation effects, sales volumes fell by 1.2%. Ready-mixed concrete sales volumes were up by 3.4% in 2019 to 50.7 million m3. Excluding consolidation effects, they rose by 1.1%. The development of sales volumes resulted mainly from the company’s strategy of focusing more on necessary price increases than on sales volumes, which led to a decline in sales volumes in the fourth quarter of 2019, in particular. Sales volumes of the whole year 2019 were therefore slightly below expectations.

Group revenue rose by 4.3% to €18 851 million compared to the previous year. Like-for-like, the increase amounted to 2.1%. Lower revenue in trading business – caused especially by the trading of fuels with third parties that has been reduced for risk considerations in the fourth quarter of 2019 – contributed substantially to the revenue development which was slightly below expectations.

The result from current operations before depreciation and amortisation rose by 15.5% to €3 580 million. Like-for-like, the rise amounted to 2.5%. The result from current operations increased by 8.8% to €2186 million. Like-for-like, it rose by 4.7% and was thereby in line with the company’s expectations.

Net debt could be reduced again in the fourth quarter of 2019. It decreased to €7.1 billion before application of IFRS16 by the end of 2019 and thereby fell markedly below the already downward adjusted forecast from November 2019 of €7.4 billion.

The preliminary results for the fourth quarter and business year 2019 for the entire group and the individual group areas, will be presented as scheduled in a trading statement on 18 February 2020. The complete consolidated financial statements of HeidelbergCement including the outlook will be published on 19 March 2020.

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European cement news