The countries of Denmark, Norway and Sweden are part of HeidelbergCement Group’s Northern and Eastern Europe-Central Asia division. In an exclusive interview, ICR speaks with Giv K Brantenberg, general manager of HeidelbergCement Northern Europe, to find out about the company’s engagement with these three Nordic markets.
ICR: How are the construction markets in Denmark, Norway and Sweden performing in terms of residential, non-residential and infrastructure activity? Also, what is the outlook for cement demand in 2020 and in the medium term?
Giv K Brantenberg (GKB): Within the region residential construction currently accounts from some 40 per cent of construction activity, while the non-residential and infrastructure segments account for roughly 30 per cent each. Over the last years all segments have seen growth, while growth has been very strong in residential and infrastructure in particular. Going forward growth in residential is expected to subside, while infrastructure is set to continue on an expanding path. With the Covid-19 crisis, regional construction output is likely to contract during 2020. However, current forecasts are optimistic that output can be back at 2019 levels as soon as 2021, provided restrictions currently in force can be lifted within a relatively-short period of time.
