HeidelbergCement: US tax reform positive from 2019
(CercleFinance.com) - HeidelbergCement expects the US tax reform to have a negative impact of about 200 million euros on net profit in 2017, the German building materials group said on Tuesday.
In a press release, the company pointed out that the re-measurement of deferred tax assets is a one-time effect that has no real cash impact, with no effect on earnings before tax or cash flow in 2017.
Starting from 2019, the significant reduction of the effective tax rate from 35% to 21% in the USA will have a positive effect on group's net profit and cashflow, HeidelbergCement added.
The shares were up 1.1% at 91 euros on Germany's Xetra market after these announcements were made.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In a press release, the company pointed out that the re-measurement of deferred tax assets is a one-time effect that has no real cash impact, with no effect on earnings before tax or cash flow in 2017.
Starting from 2019, the significant reduction of the effective tax rate from 35% to 21% in the USA will have a positive effect on group's net profit and cashflow, HeidelbergCement added.
The shares were up 1.1% at 91 euros on Germany's Xetra market after these announcements were made.
Copyright (c) 2018 CercleFinance.com. All rights reserved.