HeidelbergCement Q1 net rises to EUR119m on growth in Europe

HeidelbergCement Q1 net rises to EUR119m on growth in Europe
09 May 2007

HeidelbergCement AG said first-quarter net profit rose to EUR119m from EUR37m in the same period last year as business improved significantly in Europe and Central Asia, thanks to the mild winter.  
Operating income climbed to EUR159m from EUR64m.  
Sales rose to EUR2.060bn from EUR1.744bn, with significant contributions from Eastern Europe, Norway, Germany and Turkey offsetting declines in the North American market, the company said in a press release.  
Overall, the highest growth was achieved in its Europe-Central Asia regional division where cement and clinker sales volumes rose by 32.8 pct to 8.3Mt, thanks to the currently favourable economic environment and boosted by mild weather.  
Turnover in the unit climbed to EUR903m from EUR674m.  
Its North America unit Lehigh saw cement sales volume decline to 3Mt from 3.4Mt in the same period last year, following a slow down in the US property market.  
Turnover in the unit fell to EUR493m from EUR553m.  
The company said that its North American plant capacities were fully utilised despite the weakening in demand.  
Published under Cement News