HeidelbergCement: returns to profit in first quarter

(CercleFinance.com) - Germany's biggest cement maker HeidelbergCement said on Wednesday it returned to profit last quarter thanks to positive market dynamics, despite adverse weather and fewer working days.


The company made a profit of 6 million euros in the first three months of the year, compared with a loss of 35 million euros in the previous year's first quarter, which is typically weak because of seasonal factors.

During the first quarter, the group's cement and clinker volumes rose by 2% to 28.2 million tonnes

While sales in Europe and North America were impacted by a long winter and a reduced number of working days, some emerging countries like Indonesia recorded "considerable increases," the group said.

For 2018, HeidelbergCement remains committed to the goal of increasing revenue "moderately".

Group revenue fell by 4% in the first quarter.

Its stock is currently up 1% at 84 euros.

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