HeidelbergCement - November 2014
HeidelbergCement's turnover improved by 2.7 per cent to EUR10,127m in the first nine months of the 2014 and EBITDA was 5.7 per cent ahead at EUR1794m. At the trading level, the profit increased by 10.9 per cent to EUR1241m and after a net interest charge 12.1 per cent higher at EUR463m, an associates’ contribution 14 per cent lower at EUR17m and a lower net exceptional items contribution, the pretax profit declined by 15.3 per cent to EUR803m, giving a net attributable profit 33.5 per cent down at EUR599m. The net debt at the end of September was 3.1 per cent lower at EUR7629m, giving a gearing level of 54.7 per cent compared with 60.8 per cent a year ago. Capital investment in the period was 19.8 per cent lower at EUR733m and should around EUR1200m for the full year, half of which would be for expansion investments.