HeidelbergCement has released its preliminary figures for 4Q15 and the whole of 2015. The highlights are as follows:
- Revenue increased by 2% to €3.4 billion.
- Operating income before depreciation (OIBD) improved by 11% to €696 million.
Full year 2015:
- Most successful year since the financial crisis.
- Marked increase in operating income (OI) with stable sales volumes.
- Revenue rises by 7% to €13.5 billion.
- Operating income before depreciation (OIBD) increased by 14% to €2.6 billion.
- Operating margin improved by over 100 basis points.
- Net debt reduced to around €5.3 billion (leverage at approx. 2.0x).
For 2016, the company predicts continued recovery and growth in the US markets and the UK, with market recovery in Europe being supported by low oil prices.
“2015 was by far the best year for HeidelbergCement since the financial crisis”, said Dr. Bernd Scheifele, Chairman of the Managing Board. “Despite the slowdown of the global economy in the course of the year, we were able to significantly increase our operating income as anticipated. Our strict focus on improving efficiency and margins in recent years, our advantageous geographical positioning, and continuous investments in growth have made a significant contribution.”
“In 2016, we will once again benefit from the economic development in the industrial countries, particularly in North America and the United Kingdom”, continued Dr. Bernd Scheifele. “In view of our strong positioning in raw material reserves and production sites in attractive locations, the unique vertical integration, and our excellent product portfolio, we believe we are well equipped for the opportunities and challenges of 2016.”
Edited from press release by Angharad Lock
Read the article online at: https://www.worldcement.com/europe-cis/16022016/heidelbergcement-4q15-figures-511/