HeidelbergCement sees first rise in six quarters

HeidelbergCement sees first rise in six quarters
30 July 2010

HeidelbergCement AG said sales rose for the first time in six quarters as a rebound in the global economy revived demand.

Sales in the quarter ended June 30 rose 9.5 per cent to EUR3.3bn (US$4.3bn), while operating profit rose 9.1 per cent to EUR693m.

“Demand for our building materials noticeably improved in the second quarter,” Chief Executive Officer Bernd Scheifele said in an e-mailed statement today. Sales volumes for its main products, cement, aggregates, and ready-mix concrete, all rose in the quarter.

The company gave no forecast, only stating it plans to benefit over proportionally from the economic recovery this year and next. The recovery’s strength and the impact of budget- deficit reduction on infrastructure spending are still unclear, the CEO said.
Published under Cement News