HeidelbergCement Bangladesh Ltd, owned by HeidelbergMaterials, announced its financial results for the 9M22 period on 18 October. It posted a loss of BDT241.3m (US$2.3m0 during this period compared to the profit of BDT558.5m earned in the corresponding period in the last year, according to the company’s regulatory filing to the local bourse.

The company's net sales/revenue increased by 1.1 per cent to BDT12.80bn, but the cost of sales also increased to BDT12.22bn from BDT11.09bn during this period.

The distribution and administrative expenses decreased to BDT281m from BDT286m, but administrative expenses rose to BDT415m from BDT360m, respectively, during the nine-month period. The financial cost increased to BDT48m from BDT10m during this accounting period. 

HeidelbergCement Bangladesh officials attributed losses to the high cost of raw materials and freight charges, the local currency devaluation against the dollar and scheduled maintenance of cement plants.

Last year the company's director's report said that in 2021, it delivered a total of 2.2Mt of cement, marked as the highest volume in the industry, from its three plants located at Kanchpur, Chittagong, and Mukterpur.