HeidelbergCement - March 2013

HeidelbergCement's turnover improved by 8.9 per cent last year to EUR14,020.2m (US$17,927m) while the EBITDA was ahead by 6.7 per cent to EUR2477.2m. At the trading level, the improvement reached 9.4 per cent to EUR1613.3m and the net interest charge was 2.4 per cent higher at EUR558.7m out of a total financial charge 10.3 per cent ahead at EUR640.9m. This resulted in a 23.6 per cent reduction in the pre-tax profit by to EUR607.4m. After a 36.6 per cent reduction in the tax charge and a turnaround into profit from discontinued activities there was a 2.1 per cent increase in the group net profit. After a 31.2 per cent increase in minorities, the net attributable profit emerged 13.5 per cent lower at EUR301.2m. The net debt at the end of the year was 9.3 per cent lower at EUR7047m and the gearing ratio was reduced by a further 10 per cent to 51.3 per cent. Capital investment declined by 9.7 per cent to EUR866m, some 11.6 per cent lower than projected a year ago, but is forecast to increase by some 27 per cent in 2013 to around EUR1100m. The number of employees was reduced by a further 1.1 per cent to 51,966. 

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