HeidelbergCement - March 2014

HeidelbergCement's 2013 turnover eased by 0.6 per cent to EUR13,935.9m and the EBITDA declined by 2.1 per cent to EUR2424.4m. At the trading level, however, there was a 75.1 per cent improvement to EUR1649.7m because of changes in the valuation system, but the increase over the figure shown a year ago was just 2.3 per cent. The net interest charge was 10.3 per cent lower at EUR501.4m out of a total financial charge 12.1 per cent down at EUR568.9m, giving a pretax profit 82.7 per cent higher at EUR1080.8m. After a 53.9 per cent rise in the tax charge to EUR233.3m, a 10.6 per cent increase in the profit from discontinued activities to EUR97.9m and an 18 per cent reduction in the minorities charge, the net attributable profit showed a 161.8 per cent jump to EUR745.4m. The net debt at the end of the year was 6.8 per cent higher at EUR7523m giving a gearing ratio of 59.7 per cent compared with 51.3 per cent a year earlier. Capital investment jumped by 51.7 per cent to EUR1314m and is forecast to be around EUR1200m in 2014, half of which would be for maintenance expenditure. The number of employees increased by 1.1 per cent to 52,560.

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