Revenues continue upwards at HeidelbergCement

Cement producer HeidelbergCement reported a 9% increase in revenue in the third quarter of 2012, to achieve €3.9 billion (US$4.9 billion).

The quarter, ended September 30, 2012, saw the group’s cement and clinker sales volumes remained stable at 24.3 million tonnes compared to the third quarter of 2011.

Growth was seen in North America, as recovery in the residential housing market drove demand. Asia-Pacific and Africa-Mediterranean Basin also saw increases.

Year-to-date figures saw cement and clinker sales volumes jump 2.5% to 67 million tonnes, compared with 65.7 million tonnes in 2011.

Operating income before depreciation (OIBD) increased by 12.4% to €874 million (US$1.1 billion) while operating income improved by 15.5% to €649 million (US$827 million). Overall, profit in the third quarter 2012 rose by 2.2% to €322.9 million (US$411 million), up from €316.1 million (US$403 million) in 2011.

The first nine months of the year generated group revenue of €10.5 billion (US$13.4 billion), up 9.4% on 2011 figures of €9.6 billion (US$12.2 billion). Profit from January to September amounted to €416.2 million (US$530 million), up from €404.2 million (US$515 million) in 2011.

Meanwhile, Heidelberg Cement predicted continued growth in Russia and Central Asia, North America, Asia-Pacific and Africa-Mediterranean Basin, driven by solid demand, while further decline was expected in Western and Northern Europe.

Dr Bernd Scheifele, chairman of the managing board, said, “We will continue our successful strategy of targeted investments to expand cement capacities in the growth markets of Asia, Africa, and Eastern Europe. More than 5 million tonnes of additional cement capacities are expected to be commissioned in emerging markets in 2013.”