HeidelbergCement upgrades 2006 turnover forecast

HeidelbergCement upgrades 2006 turnover forecast
Published: 10 January 2007

HeidelbergCement AG has upgraded its turnover forecast for 2006 as a result of the company’s increasing sales and the favourable weather at the end of 2006, HeidelbergCement said on January 9, 2007.

The company said it now expected its turnover for the full 2006 to be more than EUR9.0bn (US$11.726 bln), after EUR7.8bn ($10.162 bln) in 2005. The net profit is projected to stand at about EUR1.0bn ($1.303bn), compared with EUR471m ($613.64m) in 2005.

In 2006, HeidelbergCement sold some 80Mt cement and clinker, up from 68Mt the company sold a year earlier.

Further reasons for the raised forecast are the good development of the world’s cement market throughout 2006, the successful cost-cutting programmes which the company launched in 2005, as well as the substantial reduction of the company’s tax rate, HeidelbergCement said.