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HeidelbergCement Q4 RCO Rises, Revenue Down, Cement Volume Up; Sees Demand Growth Ahead

HeidelbergCement (HDELY.PK) reported Tuesday that its fourth-quarter result from current operations or RCO increased 7.4 percent to 648 million euros from last year's 603 million euros.

RCO margin was 14.5 percent, up from 13.2 percent a year ago.

RCO before depreciation and amortisation was 976 million euros, up 0.8 percent from prior year's 968 million euros. Adjusted RCO margin was 21.8 percent, higher than 21.2 percent a year ago. On a like-for-like basis, RCO grew 12.9 percent and adjusted RCO increased 6 percent.

Group revenue for the quarter decreased 2.5 percent to 4.47 billion euros from previous year's 4.58 billion euros last year. Excluding consolidation and currency effects, it grew 2.6 percent.

Cement volume grew 1.7 percent to 31.9 million tonnes, and Aggregates volume edged up 0.6 percent to 75.5 million tonnes.

Looking ahead, HeidelbergCement anticipates demand to develop positively in many markets in 2021. According to the company, good start into the year confirms optimistic view of building materials market development in 2021.

Further, the company said that by 2025, it aims to reduce the specific net CO2 emissions to below 525 kg per tonne of cementitious material, which corresponds to a reduction of 30% compared with 1990.

By 2030, this figure is to fall to below 500 kg per tonne of cementitious material. Under the CO2 Roadmap 2030, each country has specific CO2 reduction targets to meet.

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