HeidelbergCement - November 2013
HeidelbergCement's turnover eased by 0.7 per cent to EUR10,450.3m in the first nine months of the 2013 and the EBITDA was 0.9 per cent lower at EUR1763.9m. Kiln fuel costs declined by 7.3 per cent, but the cost of electric power increased by 2.4 per cent. At the trading level, the profit was off by 0.7 per cent to EUR1143.4m and after a net interest charge 9.7 per cent lower at EUR382.1m, an associates contribution 23.1 per cent lower at EUR22.3m and net exceptional items, the pretax profit rose by 65.3 per cent to EUR974.5m while the net attributable profit jumped from EUR226.3m to EUR754.8m. The net debt at the end of September, however, was 3.2 per cent higher at EUR8005m as a result of acquisitions and the gearing level increased from 55 per cent to 61.5 per cent, but remained below the 65.9 per cent of two years ago. Capital investment in the period was increased by 81.9 per cent to EUR930.1m and should reach some EUR1100m for the full year.