Heidelberg: Deep in the red

HeidelbergCement is still faced with big losses. As the company announced the first quarter of 2010 will be closed with a deficit of € 199 million. In the previous year the first quarter could be closed with a loss of only € 63 million - a significantly better result than in 2010. Due to the long winter the company even had a decrease in the EBIT margin from minus € 11 million to minus € 18 million. The turnover also decreased from € 2.359 bn to € 2.18 bn. The company is expecting a further “noticeable positive business development” within their branches in the Asia-Pacific area and the African-Mediterranean area. Despite this optimistic prognosis for these regions North-America and Europe are expected to show declining sales figures. In the current year savings of € 300 millon are to be made within the company. The total capacity of cement output is to be increased by about 20 tonnes until 2012.

Source: Baustoffmarkt online