HeidelbergCement 2007 net profit at EUR2.02bn

HeidelbergCement 2007 net profit at EUR2.02bn
Published: 17 March 2008

HeidelbergCement AG increased its net profit to EUR2.02bn (US$3.19bn) in 2007 from EUR951m ($1.5bn) in the previous year, the company said on March 17, 2008.

The net income from continuing operations improved to EUR1.97bn (US$3.12bn) from EUR916m (US$1.45bn).

EPS more than doubled to EUR17.11.

Sales surged by 35.8 per cent to EUR10.86bn (US$17.18bn), mainly due to the initial consolidation of Hanson Plc and the group’s strong organic growth in eastern Europe, central Asia, Norway, Africa, Asia and Turkey.

HeidelbergCement said it would propose a dividend of 1.30 euro ($2.06) per share to the general shareholders’ meeting on May 8, 2008.

The company is optimistic about 2008, anticipating a notable growth in both sales and profit. Again, it expects strong contributions from the markets in Europe and central Asia as well as in the emerging markets, particularly in Asia. The major steps toward Hanson’s integration will be completed by the middle of 2008.