Germany: HeidelbergCement has reported that its operating income before depreciation (OIBD) increased by 10% to Euro866m in the third quarter of 2014 from Euro789m in the same period in 2013. It attributed the rise to price increases, declining energy prices and improvement in the performance of the building products business in North America and the UK.
"In the third quarter, we generated the best operating income since the financial crisis started in 2008," said chairman of the managing board Bernd Scheifele.
The Germany-based construction materials producer's revenue rose by 4% to Euro3.81bn. Cement and clinker sales rose by 3.3% to 23.1Mt for the quarter. For the year to date increases in profit, revenue and cement sales volumes have been broadly similar to the third quarter. However, net profit fell by 40% to Euro368m in the third quarter of 2014 due to a one-off effect related to tax expenses.