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HeidelbergCement Expects Negative Balance Sheet Effect On US Tax Reform

HeidelbergCement (HDELY.PK) said it expects a negative balance sheet effect of about 200 million euros due to the US tax reform that leads to a corresponding impact on Group net profit in 2017. The Group noted that the re-measurement of the deferred tax assets is a one-time effect that is not cash-effective and has no impact on earnings before tax or cash flow in 2017. HeidelbergCement said its outlook of a significant increase of 2017 group share of profit before one-time effects remains unchanged. The write-down has no impact on the communicated, progressive dividend policy, the Group said.

HeidelbergCement currently assumes that, starting in the year 2019, the significant reduction of the effective tax rate in the USA will have a positive effect on Group net profit and cashflow.

by RTT Staff Writer

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