HeidelbergCement sees revenue up 1% in 1Q21

HeidelbergCement has seen its revenue increase 0.7 per cent YoY to EUR3958m for the first quarter of 2021, or up four per cent on a like-for-like basis. The result from current operations before depreciation and amortisation (RCOBD) surged 33 per cent to EUR538m, while the result from current operations rose 280 per cent YoY to EUR233m.

"HeidelbergCement has made an excellent start to 2021," said Dr Dominik von Achten, chairman of the Managing Board. "In all group areas, we have once again been able to significantly increase our results and margins compared with an already strong first quarter in the previous year. This is a seamless continuation of our very good development in recent quarters."

Group-wide cement and clinker sales volumes increased by 2.4 per cent YoY to 28.4Mt from 27.7Mt in the first quarter of 2020. Excluding consolidation effects, the increase amounted to 2.9 per cent. Increases in sales volumes in the Asia-Pacific, Africa-Eastern Mediterranean Basin and Western and Southern Europe segments more than offset volume losses in Northern and Eastern Europe-Central Asia and North America, according to the company.

"The very good first quarter confirms our optimistic outlook for 2021," continued the chairman. "We expect continued strong demand in private residential construction and infrastructure in all regions. In particular, the stimulus programmes launched by many governments to support the economic recovery are likely to have a positive impact on construction activity and thus on our sales in the short and medium term."

Therefore, the company expects a slight increase in revenue and result from current operations in 2021, before consolidation and currency effects.