HeidelbergCement Shares Fall After Energy, Transport Costs Hit 1Q Earnings [MarketWatch]
HEIDELBERGCEMENT UNSP/ADR (HDELY)
NASDAQ:AMEX Investor Relations:
heidelbergcement.com/en/investor-relations
Company Research
Source: MarketWatch
At 0721 GMT, shares in HeidelbergCement traded 6.4% lower at EUR51.22. The German company made profit from current operations before depreciation and amortization of 394 million euros ($414.9 million), down 27% compared with the first quarter of the previous year, on an adjusted operating margin that fell to 8.9% from 13.6% previously. Operating profit fell nearly 60% to EUR91 million. The fall in profitability was attributable to the significantly higher costs of energy and transport in the quarter, HeidelbergCement said, with price increases able to only partially offset this. Revenue in the quarter rose 12% to EUR4.43 billion, thanks to price increases across the group as volumes remained flat on year in most business areas, the company said. Despite the lower profit in the quarter, the company said it is still aiming to attain the full-year financial goals it previously set out. "The efficiency programs with a focus on our sales prices and costs are starting to deliver
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