HeidelbergCement - May 2013

HeidelbergCement's first-quarter turnover was down by 1.4 per cent to €2760.5m, but the EBITDA improved by 3.5 per cent to €218.8m and the trading profit was €4.1m higher at a €15.6m. The net interest charge was 1.4 per cent lower at €133.3m, but the pre-tax loss increased by 9.8 per cent to €161.7m and the net attributable loss emerged 13.2 per cent higher at €234.9m. Capital investment in the period was 22.2 per cent lower at €123.8m, while spending on acquisitions jumped from €2.6m to €269.8m, reflecting the deal with Holcim to increase the interest in Cement Australia from 25 to 50 per cent. The net debt at the end of March was reduced by 7.1 per cent to €7788m to give a gearing level of 56.2 per cent.

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