Strong growth in both revenue and results in first quarter, despite decline in sales volumes
DESPITE a decline in sales volumes in the first quarter of 2023, due in large part to lower activity in residential construction, Heidelberg Materials say price adjustments in all Group areas contributed to a 13% increase in revenue, to €4,896 million, whilst the result from current operations recorded strong growth of €168 million to €258 million in the quarter.
With the good order situation for infrastructure projects and certain areas of commercial construction expected to largely offset the decline in residential construction, Heidelberg Materials say the outlook for the 2023 financial year has been upgraded, with the company anticipating moderate revenue growth and a result from current operations of between €2.50 billion and €2.65 billion (previously: €2.35 billion and €2.65 billion).
Dr Dominik von Achten, chairman of the managing board of Heidelberg Materials, commented: ‘We have had a good start to the year. In the first quarter, we were able to achieve a strong increase in revenue and results. Our operations in North America and Europe made a particular contribution to this success. We can keep building on this during the rest of the year…and are optimistic about the full year 2023.’