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News HeidelbergCement reports ‘good start to 2020’

HeidelbergCement reports ‘good start to 2020’

Written by Global Cement staff 07 May 2020
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Germany: HeidelbergCement has reported a fall in first quarter revenues by 7% year-on-year in 2020, to Euro3.93bn from Euro4.24bn. Revenues fell by 6% in Western and Southern Europe and by 10% in the Asia-Pacific region, but rose by 11% in North America, by 2% in Northern and Eastern Europe and Central Asia and by 3% in Africa-Eastern Mediterranean Basin.

HeidelbergCement Managing Board
Chair Dominik von Achten said that, after year-on-year sales increases across all business lines, “from mid-March our sales volumes were significantly impaired by the effects of the coronavirus pandemic, such as state-imposed production downtimes and construction stoppages on major infrastructure projects.” Total cement and clinker sales over the period were 27.7Mt, down by 3.0% year-on-year from 28.6Mt.

Thanks to its COPE coronavirus action plan, HeidelbergCement says that it has reduced 2020 spending by Euro1.0bn. It says that it has Euro5.7bn of financial liquidity.

Last modified on 13 May 2020
Published in Global Cement News
Tagged under
  • Germany
  • HeidelbergCement
  • Sales
  • Results
  • regions
  • suspensions
  • construction
  • Infrastructure
  • coronavirus
  • Savings
  • Budget
  • GCW455
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