HeidelbergCement increases revenue and results

2015 consolidated financial statements

• Revenue rises by 7% to €13.5 billion.
• Operating income improves by 16% to €1.8 billion.
• Group share of profit for the financial year rises by 65% to €800 million.
• Net debt significantly reduced to €5.3 billion.
• HeidelbergCement earns premium on cost of capital.
• Dividend proposal: €1.30 per share (+73%).

Outlook for 2016

• Positive outlook for the global economy; geopolitical and macroeconomic risks increased.
• Growth in sales volumes of cement, aggregates, and ready-mixed concrete expected.
• Moderate increase in revenue and operating income before currency and consolidation effects; moderate improvement in profit for the financial year before non-recurring items.
• Closing of the Italcementi takeover in the course of the year.
• HeidelbergCement well positioned to benefit from the continued recovery, particularly in the USA, the United Kingdom, Northern Europe, and Australia.

“2015 was the most successful year for HeidelbergCement since the start of the financial crisis,” said Dr. Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “In addition to the strong development of results, we have achieved key goals and laid the foundation for a successful future. HeidelbergCement has substantially increased the profit for the financial year and, for the first time since the financial crisis, earned a premium on the cost of capital. Net debt was again reduced significantly, and the key financial ratios are now at investment grade level. Our new strategic priorities of ‘shareholder returns’ and ‘continuous growth’ are reflected in the considerably raised dividend proposal as well as in the planned takeover of Italcementi.”

Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/europe-cis/17032016/heidelbergcement-increases-revenue-results-710/