Germany: HeidelbergCement has reported that its revenue for the first nine months of 2012 rose by 9.4% to Euro10.5bn from Euro9.62bn in 2011. The German construction materials group reported that earnings before interest and income taxes (EBIT) stayed flat at Euro1.07bn in 2012 compared to Euro1.08bn in 2011. Profit before tax fell by 5% to Euro601m from Euro635m.
Results for the third quarter of 2012 showed a different trend, with increasing EBIT and profit. Revenue rose by 9% to Euro3.94bn from Euro3.62bn compared with the same quarter of 2011. EBIT rose by 11% to Euro608m from Euro548m. Profit before tax rose by 6% to Euro427 from Euro403m. At the end of September 2012 the group's net debt stood at Euro7.76bn, a reduction of Euro740m compared to September 2011.
Cement and clinker sales rose by 2.5% for the first nine months of 2012, to 67Mt from 65.4Mt in 2011. By quarter, its sales remained flat, hitting 24.3Mt in the third quarter of 2012. The group attributed the increase for the nine-month period to a continued recovery of residential construction in North America and a persistently strong demand in Asia. The group blamed declining infrastructure expenditure in some European markets for its losses. The largest contribution to sales volumes was made by the 'Asia-Pacific' group area, followed by North America. The sales volumes of the 'Eastern Europe-Central Asia' and 'Africa-Mediterranean Basin' group areas remained at the previous year's level.
