Heidelberg Cement has reported that turnover for the full year in 2010 was up 5.8% on 2009 levels at €11.8billion. The company has also reported that operating income before depreciation margin increased to 19% which the company has attributed to successful measures to reduce costs and increase efficiency. Profits were also up from €168million in 2009 to €511milllion last year.
HeidelbergCement has reported that turnover for the full year in 2010 was up 5.8% on 2009 levels at €11.8billion. The company has also reported that operating income before depreciation margin increased to 19% which the company has attributed to successful measures to reduce costs and increase efficiency. Profits were also up from €168million in 2009 to €511milllion last year.
“In 2010, the HeidelbergCement team successfully demonstrated implementation capabilities and cost efficiency once again,” said Heidelberg chairman of the managing board Dr Bernd Scheifele. “We increased our turnover, operating income, and profit for the financial year in a challenging environment. In addition, Heidelberg is one of the few companies in our industry that managed to improve its operating margin overall as well as in the two core business lines of cement and aggregates.”
Looking at the potential for further improvements this year, the company has said that it expects sustained growth in Asia-Pacific and Africa-Mediterranean Basin and continuing recovery in North America and Europe. Heidelberg will continue to focus on increasing efficiency, reducing costs, and raising prices in order to offset increasing energy and raw material costs as well as rising inflation.
Other targets for 2011 include debt reduction and targeted expansion of cement capacities in growing markets.
