HeidelbergCement - March 2017

HeidelbergCement's turnover increased by 12.6 per cent last year to EUR15,166m. EBITDA improved by a 12.5 per cent to EUR2939m and the trading profit advanced by 7.5 per cent to EUR1984m. After a 10.2 per cent reduction in net interest payments to EUR396.3m and other items, the pretax profit declined by 8.3 per cent to EUR1204m and the net attributable profit fell by 11.8 per cent to EUR706m after a 3.4 per cent higher tax charge and a minorities charge 3.8 per cent higher at EUR190m. The dividend is being increased by 23.1 per cent to EUR1.60 per share. The net debt at the end of the year was 70.2 per cent higher at EUR8999m and the gearing ratio rose from 33.1 per cent to 50.4 per cent. Capital investment rose from EUR1002m to EUR4039m and is expected to amount to around EUR1400m in 2017, of which some EUR700m should represent maintenance expenditure.

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