Improved Q2 results for HeidelbergCement
Second-quarter sales volumes benefit from positive market environment in Europe, the US and Australia
HeidelbergCement say the positive market environment, particularly in Europe, the US and Australia, made a significant contribution to growth in sales volumes across all business lines in the second quarter of 2016.
While group revenue remained stable in the quarter at €3,575 million, compared with the same period last year (€3,635 million), operating income before depreciation (OIBD) improved by 5.2% to €791 million (€752 million) and operating income rose by 7.8% to €601 million (€557 million).
Net debt at the end of the second quarter amounted to €5.9 billion, more than €450 million less than the same quarter of 2015.
‘In operational terms, the second quarter of 2016 was the best since the financial crisis and thus continued the positive trend of the previous year,’ commented Dr Bernd Scheifele (pictured), chairman of the managing board.
‘The positive market environment in our mature markets and the recovery of demand in Eastern Europe made a significant contribution. We were able to raise the margins in operational terms in all business lines thanks to our margin-improvement programmes and price increases in core markets. Furthermore, we have benefited from declining fuel costs.’
Dr Scheifele added that the good second-quarter results had confirmed HeidelbergCement’s outlook for 2016 and he said the company would continue to concentrate on the strategic points of focus announced in 2015, namely shareholder returns and continuous growth.
‘Thanks to the positive development in the first half of the year, HeidelbergCement are in a strong position to successfully conclude the takeover of Italcementi,’ he continued. ‘With the acquisition, we are strengthening our global market position. In our core business lines – aggregates, cement, and ready-mixed concrete – we will occupy first, second, and third place on a global scale.’
