HeidelbergCement's sales fall by 10% in 1HFY2020


August 2020
HeidelbergCement

HeidelbergCement's revenue fell by 10 per cent year-on-year to Euro 8.25 billion in the first half of 2020 from Euro 9.21 billion in the same period in 2019. Its result from current operations before depreciation and amortisation (RCOBD) decreased by 2 per cent to Euro 1.40 billion from Euro 1.44 billion. Sales volumes of cement dropped by 8 per cent to 56.3 Mt, aggregates by 7 per cent to 135 Mt and ready-mixed concrete (RMX) by 11 per cent to 21.7 Mm3. Its net debt decreased by 1.4 per cent to Euro 8.99 billion.

"In the second quarter, revenue dropped in many countries, in some cases by double-digit percentages. Nevertheless, we achieved a good result, which was almost at the previous year's level. The successful implementation of our COPE action plan played a large part in this," said Dominik von Achten, chairman of the managing board of HeidelbergCement.

By region the group noted major falls in sales volumes, revenues and RCOBD in Western and Southern Europe and Asia-Pacific. Although it said that the construction industry in Germany had 'hardly been affected by the corona crisis' despite significant negative effects elsewhere in Europe.