Germany: HeidelbergCement has started to build its sales revenue following its acquisition of Italcementi with growth in Europe and North America. Its sales rose by 19% year-on-year to Euro13bn in the first nine months of 2017 from Euro10.9bn in the same period in 2016. On a like-for-like basis this rose by 1.1%. Its cement and clinker sales volumes rose by 29.2% to 94.4Mt from 73Mt or by 0.3% on a like-for-like basis.

“As expected, the positive trend reversal in May 2017 led to a significantly improved development of results in the third quarter”, said chairman of the managing board, Bernd Scheifele. “North America, Australia, Morocco, India, as well as Northern and Eastern Europe have developed very strongly. The countries of Southern Europe are showing clear signs of recovery, and the emerging countries have passed their lowest point. We have succeeded in reducing the rise in energy costs through the flexible use of various fuels.” He added that the synergies from the acquisition of Italcementi have already ‘significantly’ exceeded the target for 2017.

By region cement sales volumes rose in all regions on both a consolidated and pro forma basis except for the group’s Northern and Eastern Europe - Central Asia and its Asia-Pacific regions. In the US strong markets were noted in California and Washington alongside price growth. In Indonesia the cement producer said that despite the market showing signs of recovery it was still facing price pressure. In Egypt continued reduced market demand was reported.