HeidelbergCement - November 2016
HeidelbergCement's turnover improved by 8.4 per cent to EUR10,927m in the first nine months of 2016 and the EBITDA was 19.7 per cent ahead at EUR2121m. At the trading level, the profit increased by 9.7 per cent to EUR1477m and after a net interest charge 15 per cent lower at EUR363m and a contribution from investments some 27 per cent lower at EUR24m, the pretax profit was 9.7 per cent ahead at EUR1049m, but the net attributable profit declined by 6.8 per cent to EUR585m. The net debt at the end of September was 48.5 per cent higher at EUR8868m, giving a gearing level of 53.4 per cent compared with 39 per cent a year ago. Capital investment in the period was EUR1699m compared with EUR631m a year earlier. Excluding acquisitions, investments should amount to around EUR1250m for the full year of which some EUR500m would be for expansion investments. The speed of the Italcementi integration, so far, exceeds expectations.
