HeidelbergCement Q1 Revenues Up

HeidelbergCement (HDELY.PK) reported that its first-quarter result from current operations before depreciation and amortization grew by 33% to 538 million euros from 405 million euros last year. The result from current operations rose by 280% to 223 million euros from 59 million euros last year.

First-quarter revenues rose by 1% to 3.96 billion euros from 3.93 billion euros last year. On like-for-like basis, revenues grew 4%.

"HeidelbergCement has made an excellent start to 2021," said Dr. Dominik von Achten, Chairman of the Managing Board. "In all Group areas, we have once again been able to significantly increase our results and margins compared with an already strong first quarter in the previous year. This is a seamless continuation of our very good development in recent quarters".

Cement sales volume rose 2% to 28.4 million tons from 27.7 million tons last year. Deliveries of aggregates increased by 2.0% year-on-year to 61.3 million tons from 60.1 million tons.

Looking forward, HeidelbergCement expects a slight increase in revenue and result from current operations before consolidation and currency effects in 2021.

"The very good first quarter confirms our optimistic outlook for 2021," said Dr. Dominik von Achten. "We expect continued strong demand in private residential construction and infrastructure in all regions. In particular, the stimulus programmes launched by many governments to support the economic recovery are likely to have a positive impact on construction activity and thus on our sales in the short and medium term."

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