Heidelberg Materials posts record annual trading figures

German building materials giant Heidelberg Materials is celebrating record annual trading results. The Group’s 2023 revenue was €21.2 billion (+4% on 2022), with the result from current operations up by an eye-catching 29% to €3 billion.
Quarry Products / February 22, 2024
By Guy Woodford
Heidelberg Materials' Brevik cement plant in Norway is the Group's most advanced CCS project. Pic: Heidelberg Materials

Further figures reveal that Heidelberg Materials’ profit for the financial year increased significantly, with earnings per share at €10.4 (+23%2). Group return on invested capital was above 10% for the first time – ROIC at 10.3% (previous year: 9.1%). A strong focus on shareholder return continued – with a new share buyback programme of €1.2 billion announced. Heidelberg Materials’ specific net CO₂ emissions dropped by 3%, with new brands introduced for the Group's sustainable product portfolio.

Dr Dominik von Achten, chairman of the Heidelberg Materials' managing board. Pic: Heidelberg Materials

Heidelberg Materials has an optimistic outlook for 2024, with Group revenue growth forecasted at €3–3.3 billion.

“Despite a persistently difficult market environment, we closed the past financial year with a record result,” said Dr Dominik von Achten, chairman of the managing board of Heidelberg Materials. “We achieved new all-time peaks in all of our key figures. In the 150th year of our company’s history, we have again shown that we can deal with change and crises. I am extremely proud of our teams around the world, who have remained firmly focused on our targets and have once again done an extraordinary job.

“An essential pillar for our long-term corporate success is sustainability, an area in which we also made great progress last year. We already generate over a third of our revenue with sustainable products. We offer our customers a wide range of low-carbon and circular products, which we have now incorporated into the evoBuild brand across the Group. With evoZero, the world’s first carbon-captured net-zero cement, we are paving the way for the future of construction. The product will be available next year and can already be ordered.

HM logo
Heidelberg Materials is toasting record annual trading results. Pic: Heidelberg Materials

“We are entering the new financial year 2024 with optimism. Although the general economic conditions in the construction sector remain challenging, we anticipate growth in revenue and earnings also in the current year. Our shareholders are benefitting from this growth thanks to the progressive dividend and the new, comprehensive share buyback programme.”

For more information on companies in this article