HeidelbergCement: Q1 better than expected
(CercleFinance.com) - Cement maker HeidelbergCement last night reported better-than-expected preliminary quarterly results, which has sent its share up 2% on the Frankfurt stock exchange on Friday.
The German group, one of LafargeHolcim's main competitors, generated operating profit before depreciation and amortisation of 538 million euros in the first quarter, up a third from 405 million euros in the same period last year.
According to a consensus provided by the company, analysts were expecting a significantly lower adjusted Ebitda of around 436 million euros.
Sales also increased from 3.93 billion euros to 3.96 billion euros over the period, compared to a consensus of 3.87 billion euros.
Shortly before noon, HeidelbergCement shares were up 2% on the Frankfurt Stock Exchange, while the European index of construction materials stocks, the STOXX® Europe 600 Construction & Materials, was up 0.9%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The German group, one of LafargeHolcim's main competitors, generated operating profit before depreciation and amortisation of 538 million euros in the first quarter, up a third from 405 million euros in the same period last year.
According to a consensus provided by the company, analysts were expecting a significantly lower adjusted Ebitda of around 436 million euros.
Sales also increased from 3.93 billion euros to 3.96 billion euros over the period, compared to a consensus of 3.87 billion euros.
Shortly before noon, HeidelbergCement shares were up 2% on the Frankfurt Stock Exchange, while the European index of construction materials stocks, the STOXX® Europe 600 Construction & Materials, was up 0.9%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.