Heidelberg Materials Bangladesh reports loss in 3Q24

Heidelberg Materials Bangladesh posted sales of BDT2934.9m (US$24.5m) in the July-September 2024 quarter, down 19.6 per cent YoY from BDT3651.3m in the 3Q23.

Operating profit fell by 71.5 per cent YoY to BDT17.3m from BDT60.7m over the same period.

The company also reported a net loss of BDT7.96m in the 3Q24. The loss per share was BDT0.14, according to a disclosure on the Dhaka Stock Exchange website. The company attributed the negative result to a drop in sales volumes and net sales price per tonne.

Net operating cashflow per share also saw a decline falling to BDT9.77, mainly due to lower collections and higher income tax payments.

January-September 2024 results
Heidelberg Materials Bangladesh posted sales of BDT11,154m in the January-September 2024 period, down 19.5 per cent from BDT13,859m in the 9M23.

Operating profit declined by 22 per cent to BDT588.2m in the 9M24 from BDT754.4m in the 9M23.

The company reported a profit of BDT413.2m in the 9M24 period, down 18.2 per cent YoY from BDT505.1m in the 9M23.