HeidelbergCement AG: HeidelbergCement reports preliminary results for business year 2019
HeidelbergCement publishes the following preliminary, unaudited figures for sales volumes, revenue, result from current operations before and after depreciation and amortisation, as well as net debt for the business year 2019.
Cement and clinker sales volumes fell by 3.1% in 2019 to 125.9 million tonnes. Excluding consolidation effects, cement and clinker sales volumes were 1.6% below the previous year. Aggregates sales volumes were just under the previous year's level, at 308.3 million tonnes. Excluding consolidation effects, sales volumes fell by 1.2%. Ready-mixed concrete sales volumes were up by 3.4% in 2019 to 50.7 million cubic metres. Excluding consolidation effects, they rose by 1.1%. The development of sales volumes resulted mainly from our strategy of focusing more on necessary price increases than on sales volumes which led to a decline in sales volumes in the fourth quarter of 2019, in particular. Sales volumes of the whole year 2019 were therefore slightly below our expectations.
Group revenue rose by 4.3% to ?18,851 million compared to the previous year. Like-for-like, the increase amounted to 2.1%. Lower revenue in our trading business - caused especially by the trading of fuels with third parties that has been reduced for risk considerations in the fourth quarter of 2019 - contributed substantially to the revenue development which was slightly below our expectations.
The result from current operations before depreciation and amortisation rose by 15.5% to ?3,580 million. Like-for-like, the rise amounted to 2.5%. The result from current operations increased by 8.8% to ?2,186 million. Like-for-like, it rose by 4.7% and was thereby in line with our expectations.
Net debt could be reduced again significantly in the fourth quarter of 2019. It decreased to ?7.1 billion before application of IFRS16 by the end of 2019 and thereby fell markedly below the already downward adjusted forecast from November 2019 of ?7.4 billion.
The preliminary results for the fourth quarter and business year 2019 for the entire Group and the individual Group areas, will be presented as scheduled in a trading statement on 18 February 2020. The complete consolidated financial statements of HeidelbergCement including the outlook will be published on 19 March 2020.
For the definition of the terms "result from current operations before depreciation and amortization" and "result from current operations" we refer to page 219 in the Annual Report 2018 (https://www.heidelbergcement.com/en/reports-and-presentations). "Net debt" comprises the sum of all non-current and current financial liabilities minus cash and cash equivalents and derivatives.
Heidelberg, 12 February 2020
HeidelbergCement AG The Managing BoardContact: HeidelbergCement AG Group Communication & Investor Relation Christoph Beumelburg Tel.: +49 6221 481 13249 Fax: +49 6221 481 13217 firstname.lastname@example.org Berliner Straße 6 69120 Heidelberg Germany
12-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: HeidelbergCement AG Berliner Straße 6 69120 Heidelberg
Germany Phone: +49 (0)6221 481-0 Fax: +49 (0)6221 481-13217 E-mail: email@example.com Internet: www.heidelbergcement.com ISIN: DE0006047004 WKN: 604700 Indices: DAX30 Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Hamburg, Hanover, Tradegate Exchange EQS News ID: 974309 End of Announcement DGAP News Service
974309 12-Feb-2020 CET/CEST