Strong third quarter for Heidelberg Materials
Company weathers increases in energy and raw material prices in third quarter of 2022
HEIDELBERG Materials have reported a strong third quarter of 2022, having been able to offset high energy and raw material costs by energy savings, cost discipline, and price adjustments.
As a result, the Group saw revenue grow significantly to €5,852 million (+15.7% or +13.7% on a like- for-like basis) for the quarter, whilst RCOBD increased by 1.5% to €1,193 million (–2.1% on like-for-like basis) and RCOBD margin was 20.4% (Q3 2021: 23.2%). RCO rose slightly by 0.6% to €874 million (–1.9% on a like-for-like basis).
‘The third quarter was a strong one for Heidelberg Materials. With Group-wide energy-saving measures, cost discipline, and price adjustments, we weathered further increases in energy and raw material prices and maintained our result from current operations at the level of the previous year’s third quarter,’ said Dr Dominik von Achten, chairman of the managing board.
‘The environment remains challenging,’ he continued. ‘Due to high global inflation and the continuation of highly volatile price developments in the energy sector, we anticipate a slight weakening of demand in the coming months, especially in residential construction. However, the third quarter has shown that we are well prepared for this.’
Against this background, Heidelberg Materials have specified their outlook for the 2022 financial year. The company continues to expect a strong increase in revenue (on a like-for-like basis) compared with the previous year and now anticipates a result from current operations of between €2.35 billion and €2.55 billion (Annual Report 2021 outlook: slight increase; Half-Year Financial Report outlook: slight decline).
