logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Procter & Gamble Company (PG) reported third-quarter net earnings per share of $0.95, an increase of two percent versus the prior year. Net earnings from continuing operations declined 1% year-over-year to $2.54 billion. Core earnings per share increased four percent to $1.00. On average, 20 analysts... Consumer goods giant Procter & Gamble Co. announced Thursday that it has signed an agreement to acquire the Consumer Health business of German drug major Merck KGaA for a purchase price of approximately 3.4 billion euros. P&G expects to close the acquisition of Consumer Health business during the 2018/19 fiscal year, subject to customary closing conditions and regulatory clearances. Alcoa Inc. (AA), the largest producer of aluminum in the US, Wednesday reported a first-quarter profit that trumped Wall Street estimates, driven largely by revenue growth, sending its shares up 5 percent in after-hours trading. New York-based Alcoa's first-quarter profit was $150 million or $0.80...
Follow RTT