HeidelbergCement achieves growth goal
First publishedon www.AggBusiness.com
HeidelbergCement said fourth-quarter profit and sales rose as the company cut costs mild weather helped extend the construction season in some of its main markets.
It cut costs and boosted output in faster- growing emerging countries to help offset slower demand in regions including North America.
The preliminary and unaudited figures for the fourth quarter and full year 2011 show that in Q4 revenue increased to €3.3billion (+13.8% from Q4 2010); operating income before depreciation improves by 6.8% to €639million and there was a strong growth in sales volumes for cement (+14.6%), aggregates (+7.7%) and RMC (+12.4).
For the full year 2011, revenue increased to €12.9billion (+9.7% from 2010); operating income before depreciation improves by 3.6% to €2.32 billion, and there was a continued strong growth in sales volumes for all building materials.
The group's cash-saving programme FOX 2013 exceeded expectations and has resulted in cash savings of €384million including cost savings of more than €100million in 2011.
"We are pleased that we achieved our goal of increasing revenue and operating income in 2011 despite the significant surge in energy costs earlier in the year. Once again we could reap the benefit from our advantageous geographical positioning in growth markets and the successful continuation of our efficiency and cost-saving programmes," said Dr Bernd Scheifele, CEO of HeidelbergCement.