Italcementi acquisition strengthens company’s sales volumes, revenue, and result in second quarter
HeidelbergCement’s have reported a significant increase in sales volumes during the second quarter (Q2) of 2017, largely as a result of the consolidation of Italcementi.
Cement and clinker sales volumes increased by 47% to 32.8 million tonnes (Q2 2016: 22.3 million tonnes), while deliveries of ready-mixed concrete rose by 22% to 12.2 million cubic metres (Q2 2016: 10.0 million cubic metres).
Deliveries of aggregates also registered an acquisition-related rise of 18% to 81.4 million tonnes (Q2 2016: 69.1 million tonnes).
As a result of the consolidation of Italcementi, HeidelbergCement’s revenue rose by 29% in the second quarter to €4.61 billion (Q2 2016: €3.57 billion), while the result from current operations before depreciation and amortization improved by 22% to €964 million (Q2 2016: €791 million).
After depreciation and amortization, the result from current operations rose by 14% to €683 million (Q2 2016: €601 million).
‘In the light of the difficult general conditions, we achieved a good result in the second quarter,’ said Dr Bernd Scheifele, chairman of the managing board. ‘The synergies from the Italcementi acquisition are clearly visible in the results.’
Dr Scheifele added that HeidelbergCement remain cautiously optimistic about the outlook for 2017. ‘With the acquisition of Italcementi and its rapid integration, we have impressively demonstrated our tremendous business potential and strong momentum,’ he said.
‘From a global perspective, we are well positioned to achieve our strategic goals – continuous growth and sustainable returns for our shareholders.’
