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HeidelbergCement Q4 RCO Up, But Revenue, Sale Volume Down; Sees Positive Demand

HeidelbergCement (HDELY.PK) reported Tuesday that its fourth-quarter result from current operations or RCO grew 3 percent to 603 million euros from last year's 584 million euros.

RCO margin was 13.2 percent, up from 12.4 percent a year ago.

Result from current operations before depreciation and amortisation or RCOBD grew 13 percent to 968 million euros from prior year's 858 million euros. RCOBD margin grew to 21.2 percent from 18.3 percent a year ago.

Revenue for the quarter, meanwhile, declined 3 percent to 4.58 billion euros from last year's 4.70 billion euros. On a like-for-like basis, revenue dropped 5 percent.

Cement sales volumes declined 4 percent to 31.4 million tonnes, and aggregates volume dropped 2 percent to 75.0 million tonnes.

Looking ahead, HeidelbergCement expects demand to further develop positively in many markets in the 2020 business year, in particular in the emerging markets.

The company will release the consolidated financial statements including the outlook for the business year 2020 on March 19.

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