HeidelbergCement’s asset portfolio revalued

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Germany: Following a comprehensive review of its assets HeidelbergCement has announced a Euro3.4bn impairment to its company value compared to the figure from a precious valuation prior to the second quarter of 2020. The company gave the reasons for the impairment as: the demand impacts of the coronavirus pandemic; economic effects on operations in individual countries; notably in the UK post-Brexit; and an increase in the market risk premium used by the Institut für Wirtschaftsprüfer (German public auditing body) for valuation to 7% from 6%. The largest regional impairment was Euro2.7bn, in Western and Southern Europe. Euro2.3bn of the total impairment, “relates to the Hanson acquisition” by HeidelbergCement in 2007.

Last modified on 08 July 2020

URL: https://www.globalcement.com/news/item/11051-heidelbergcement-s-asset-portfolio-revalued

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