HeidelbergCement
HeidelbergCement's first-quarter turnover declined by 4.2 per cent, largely because of poor weather, to EUR3626m, while EBITDA fell by 34.1 per cent to EUR242m. The trading result was a EUR16m loss compared with a profit of EUR108.4m. The net interest charge declined from EUR82.5m to EUR75m. The pretax result improved from EUR9.5m to EUR25m and the net attributable loss declined from EUR70.4m to EUR23m. Capital expenditure in the period rose from EUR195m to EUR716m, reflecting aquisitions. Net debt at the end of March was 2.9 per cent higher than a year earlier at EUR9879m to give a gearing level of 63.9 per cent.
