German building materials giant HeidelbergCement says its Q2 2020 preliminary revenue has exceeded the capital market forecast.
HeidelbergCement's Rezzato Mazzano cement plant in Italy
The group's second-quarter preliminary revenue totalled €4.324 billion - against a capital market expectation of €3.907 billion.
A HeidelbergCement spokesperson said that with its COPE action plan, the group had already launched a comprehensive bundle of measures in February 2020, focusing on cost savings and maintaining liquidity.
The spokesperson said these measures were particularly felt in the second quarter of this year and made a significant contribution to the fact that cost savings largely offset the burden on earnings caused by a COVID-related decline in group revenue.
HeidelbergCement's financial report for the first half of 2020 will be published on 30 July 2020.
