HeidelbergCement: confirms outlook after good first-half
(CercleFinance.com) - German cement maker HeidelbergCement has posted a 17% rise in first-half operating profit, thanks to solid demand and price increases.
The group's result from current operations before depreciation and amortisation (RCOBD) rose by 21% to 1.4 billion euros, the company said on Tuesday.
Group revenue rose by 9% to 9.2 billion euros over the first six months of 2019. Excluding consolidation and exchange rate effects, revenue grew by 7%.
"Despite a persistently challenging environment, we increased our revenue and result in the first half of 2019," said Bernd Scheifele, chairman of the group's managing board.
HeidelbergCement said good margins in Asia, as well as Europe, have more than offset weaker business due to adverse weather conditions in North America and Africa.
The group is maintaining its outlook for 2019 unchanged, with the cement maker still expecting a moderate growth in revenue, result and profit this year.
The shares were trading 1.2% lower after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group's result from current operations before depreciation and amortisation (RCOBD) rose by 21% to 1.4 billion euros, the company said on Tuesday.
Group revenue rose by 9% to 9.2 billion euros over the first six months of 2019. Excluding consolidation and exchange rate effects, revenue grew by 7%.
"Despite a persistently challenging environment, we increased our revenue and result in the first half of 2019," said Bernd Scheifele, chairman of the group's managing board.
HeidelbergCement said good margins in Asia, as well as Europe, have more than offset weaker business due to adverse weather conditions in North America and Africa.
The group is maintaining its outlook for 2019 unchanged, with the cement maker still expecting a moderate growth in revenue, result and profit this year.
The shares were trading 1.2% lower after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.