Skip to main content

HeidelbergCement positive on US tax reform

Published by
World Cement,


HeidelbergCement expects recent tax reform passed the US to have a “positive effect of group net profit and cashflow” from 2019, despite announcing a one-off US$200 million hit to its 2017 balance sheet as a result of changes to regulations brought in the reform.

The writedown is “not cash effective and no impact on earnings before tax or cash flow in 2017”, the company said, adding that the outlook for a significant increase in 2017 group share of profit remained unchanged. The company’s 2017 dividend would also be unaffected.

Going forward, the Germany-based company said that the cutting of the federal corporate tax rate from 35% to 21%, which went into effect from the beginning of 2018, would provide a boost to the company’s net profit and cashflow. The exact impact could not yet be quantified, however, as implementation rules from the US tax authorities were still pending.

Read the article online at: https://www.worldcement.com/the-americas/04012018/heidelbergcement-positive-on-us-tax-reform/

You might also like

 WCT2020

WCT2020

WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »

 

 Spotlight

World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »

 

CEMEX Ventures and Grupo Avintia announce ‘Wallex’

The companies have announced the creation of Wallex, a company focused on design and engineering, manufacturing and on-site installation of offsite panelised and self-supporting construction systems.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

US cement news Heidelberg Cement news Cement news 2018