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HeidelbergCement reports record year in 2017

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World Cement,

HeidelbergCement reported a record year in 2017, boosted by the integration of Italcementi into the results for the first full year. Revenue hit €17.3 billion, a 14% increase on the previous year, while earnings were also 14% higher at €3.1 billion.

Cement sales were 125.7 million t, a 22% increase on 2016, Sales of aggregates and ready-mixed concrete also showed double-digit growth. Asphalt sales were up 3%.

“2017 was an exceptional year for HeidelbergCement,” said Dr Bernd Scheifele. “In its history stretching back over 140 years, HeidelbergCement has never sold more cement, concrete, gravel, and sand than in 2017. New record figures were also achieved in revenue and result from current operations.”

Despite the record headline figures, pro-forma figures – which strip out the impact of the Italcementi integration – were less spectacular. Revenue rose just 2% on a like for like basis, while earnings were up 6%.

Pro-forma cement, aggregates, and asphalt sales were up just 1%, while ready-mixed concrete sales were down 3%.

Looking forward, the company expects a positive 2018, predicting rises in sales volumes of cement, aggregates, and ready-mixed concrete. It is targeting an moderate increase in revenues, while seeing earning rise by a “mid to high-single digit percentage before exchange rate and consolidation effects.”

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Heidelberg Cement news Cement news 2018