HeidelbergCement: confident about 2019 after 'record' 2018

(CercleFinance.com) - HeidelbergCement said that it expects global demand for cement to increase further in 2019 as it reported record numbers for 2018.


The German cement maker said sales volumes and revenue reached new record levels in the company's history last year, with Q4 revenue jumping by 10% to 4.7 billion euros.

And while the group's result from current operations before depreciation and amortisation declined by 5% to 847 million euros, analysts found the performance "re-assuring."

Professionals also said guidance for 2019 looked "positive."

"Considering the overall positive outlook for the global economy, we are confident about the future," said Bernd Scheifele. "We assume that some of the factors that impaired our results in 2018 will not be present in 2019," he added.

Its shares were up 4.5% this morning, just behind Wirecard, the leader in Germany's DAX index.

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