HeidelbergCement operating profit up 13% in 2014

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674 HeidelbergCement, the construction materials group, reported a 13% rise in operating profit to €1.6 billion for 2014. Adjusted sales revenues amounted to €12.6 billion in 2014. The German sector giant is said to be benefiting from the declining oil price, which lowers cement production costs. In addition, CEO Bernd Scheifele is expecting HeidelbergCement to benefit from the weak euro and the development in industrialised countries in particular in North America and the UK.

Meanwhile the company’s supervisory board has decided to amend the structure of the managing board with the position of a deputy chairman. Effective 1 February 2015, Dr. Dominik von Achten, member of the managing board in charge of the North America Group area, group purchasing and the competence center materials, has been appointed deputy chairman of the managing board.