Cement News tagged under: HeidelbergCement

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Indocement sales advance, further growth ahead, Indonesia

21 March 2012, Published under Cement News

PT Indocement Tunggal Prakarsa, part of the HeidelbergCement Group, said on Tuesday cement sales rose 15 per cent in 2011 and forecasts a strong rise in infrastructure projects supported by the government’s recently-passed land clearing law. Domestic sales volumes by Indocement rose 20.2 per cent as the Indonesian construction sector has been benefiting from lively activity, particularly in the residential and high-rise construction sector, noted HeidelbergCement. As a result of lower stro...

HeidelbergCement lifts revenues, raises savings target

16 March 2012, Published under Cement News

German cement major HeidelbergCement has reported a rise in revenues in 2011 driven significantly by its exposure to attractive growth markets, continuing recovery in most group markets and successful implementation of its “FOX 2013” improvement programme. “The year 2011 was a further consistent step towards reaching our strategic goals”, says Dr. Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “We increased revenue and results despite the unexpectedly heavy rise in e...

HeidelbergCement issues Eurobond

02 March 2012, Published under Cement News

HeidelbergCement issued a Eurobond today under its €10bn EMTN programme with an issuance volume of €300m and a maturity date of 8 March 2016. The proceeds of the transaction will be used for general corporate purposes. “The new Eurobond is a great success,” says CEO Dr. Bernd Scheifele. “We could achieve considerably better terms that represent an adequate price for our risk profile. The successful placement is another step on our way to reduce our financing costs through debt reduction an...

HeidelbergCement Quarry Life Award

22 February 2012, Published under Cement News

The first edition of the Quarry Life Award launched by HeidelbergCement raised strong interest from students and researchers. Over 300 project proposals will be competing in 18 countries on four continents. At the close of entries on 17 February, more than 300 projects ideas had been registered to compete for the first Quarry Life Award launched by HeidelbergCement and its national companies. Students and researchers from Europe, Africa, Asia and Oceania were asked to submit a project pro...

High input costs impact HeidelbergCement India 4Q

20 February 2012, Published under Cement News

HeidelbergCement India posted lower-than-expected results on the back of a sharp rise in input costs. However, the company’s exposure to the Central and Western regions, where demand remains strong, stands it in good stead. The company’s topline increased by 36 per cent YoY and 25 per cent QoQ to INR2570m, it recorded a net loss of INR18m in the fourth quarter of the 2011 calendar year. Strong demand in the Central and Western regions enabled the company to operate at utilization rates...

HeidelbergCement ahead in 2011, but margins narrow

09 February 2012, Published under Cement News

The preliminary figures from HeidelbergCement show a 9.7 per cent advance in turnover last year to €12,902m, but the EBITDA was improving at a more modest 3.6 per cent to €2,321m. The trading profit was up by 3.0 per cent to €1,474m, or by 3.2 per cent adjusting for currency movements and changes in the scope of consolidation. Margins declined as the rise in energy costs could not be passed on in their entirety and the contribution from the sale of emission rights dropped from an adjusted €1...

HeidelbergCement extends its €3bn credit facility

02 February 2012, Published under Cement News

HeidelbergCement has secured an extension of its €3bn syndicated credit facility, which was due to mature at the end of 2013, until 31 December 2015. All 17 original lenders have confirmed their participation and two additional lenders joined the syndicate. The €3bn multicurrency credit facility is intended as liquidity back-up and can be used for cash drawings and guarantees. Under the amendment, the margins increased by 25bps across the existing margin grid, with an additional 50bps pric...

Goldman Sachs keeps "buy" on HeidelbergCement

01 February 2012, Published under Cement News

Goldman Sachs on Tuesday reiterated its "buy" recommendation and EUR43 share price target on HeidelbergCement. Despite the past above-average share price development, the stock remains his favourite in the cement sector, said analyst Will Morgan. The analyst believes that the tailwind from the second half of 2011 will continue also in 2012. Despite an expected slowdown of the growth, HeidelbergCement will be probably able to pass on price increases earlier than competitors. This will be vis...

Tanzanian cement discussions

31 January 2012, Published under Cement News

Tanzanian cement producers have been urged to review their profit margins to make cement more affordable and thus increase per capita consumption, according to local press reports. The address was made by Industry and Trade Ministry permanent secretary (PS), Joyce Mapunjo, at an event organised by Tanzania Portland Cement, The Guardian reports. Ms Mapunjo said Tanzania’s cement demand is lower than neighbouring countries and that low purchasing power is another concern, resulting in low p...

Deutsche Bank maintains “buy” rating on HeidelbergCement

23 January 2012, Published under Cement News

Deutsche Bank has retained its “buy” recommendation on HeidelbergCement and affirmed the EUR42.00 share price target.