HeidelbergCement profit up by 79% in 2013

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Germany: HeidelbergCement has announced its consolidated financial results for 2013. The year saw its revenue reach Euro14bn, a 3.4% increase year-on-year, with operating income 5.2% higher than 2012 at Euro1.61bn. Its profit was up by 79% year-on-year reaching Euro945m, with earnings per share more than doubling to Euro3.98.

The company said that it had brought the year to a 'successful close' in a difficult economic environment. It highlighted a return to steady economic growth in North America and Europe as well as continued growth in Asia and Africa.

"In 2013, we generated our best results since the financial crisis," said Dr Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. "This was mainly due to the successful implementation of our FOX 2013 programme, price increases in major markets, reduced financing costs and lower non-recurring charges. Consequently, we were able to improve revenue, operating income and operating margins in all our business lines on a comparable basis. At the same time, we clearly achieved our target of noticeably increasing profit for the financial year and earnings per share."

HeidelbergCement's cement sales volumes rose slightly year-on-year, driven by the positive development of sales volumes in the North America, Asia-Pacific and Africa-Mediterranean Basin group areas, which more than offset a decline in demand elsewhere, especially in Eastern Europe.

For 2014, HeidelbergCement expects continued improvement, including in Eastern Europe. "In 2014 we will benefit from economic development in industrial countries, particularly in North America, the UK, Germany and Northern Europe," said Scheifele. "These countries generate almost 50% of our revenue. Furthermore, we are improving our market position in growth markets with the commissioning of modern production facilities. In view of these factors, as well as our high operational efficiency, we consider ourselves well-equipped to benefit over-proportionally from the accelerating economic growth in the interests of our shareholders."

URL: https://www.globalcement.com/news/item/2359-heidelbergcement-profit-up-by-79-in-2013

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