HeidelbergCement has finished 1H19 with a good result. The company has stated that it is thanks to solid demand and price increases that its revenue and result increased by around 7% and 6% respectively, on a comparable basis.
The company’s revenue improved by 7% to €9.2 billion y/y. The result from current operations before depreciation and amortisation increased by 6% y/y. Profit for the period and Group share was impaired by non-recurring effect, with the adjusted Group share rising by 38%. The company reported progress in portfolio management and its outlook for 2019 is unchanged, expecting moderate growth in revenue, result, and profit for FY19.
“Despite a persistently challenging environment, we increased our revenue and result in 1H19,” said Dr Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “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.”
Read the article online at: https://www.worldcement.com/europe-cis/30072019/heidelbergcement-announces-1h19-results/