HeidelbergCement: expects to make goodwill charge

(CercleFinance.com) - HeidelbergCement said it expects to record impairment charges of 3.
4 billion euros, primarily due to the impairment of goodwill and other asset depreciations after a Covid-19 related revaluation of its portfolio.

The reasons for these impairments include the effects of the Corona pandemic, which has prompted the company to lower its business expectations, as well as the impact of Brexit, the German cement maker said.

The impairment weighs on the group's result, although does not lead to liquidity outflows, it pointed out in a statement.

The Frankfurt-listed shares were down 0.8% after the announcement.

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