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HeidelbergCement Q1 Result From Current Ops. Rises; LFL Revenue Down 8%

HeidelbergCement (HDELY.PK) reported that its first quarter result from current operations before depreciation and amortisation grew by 3% to 405 million euros. Excluding consolidation and exchange rate effects, the growth was 2%. The result from current operations rose by 5% to 59 million euros. Excluding consolidation and exchange rate effects, the growth was 4%.

First quarter Group revenue decreased by 7% to 3.93 billion euros. Excluding consolidation and exchange rate effects, the decline was 8%.

HeidelbergCement has decided to suspend the progressive dividend policy for the time being. The Managing Board and Supervisory Board will propose a dividend of 0.60 euros per share for fiscal 2019. Originally, the dividend proposal was 2.20 euros per share.

For fiscal 2020, the company projects a negative impact on revenue and results due to the significant decline in construction activity in many countries from mid-March.

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