HeidelbergCement to increase EBITDA by 75% by 2020

HeidelbergCement aims to increase its free cash flow generation to about €6 billion as part of its Vision 2020, a series of updated financial targets and strategic priorities for the three-year period starting 2018.

The Vision 2020 strategy document, presented during the recent Capital Markets Day 2018 in Bergamo, Italy, says the free cash flow generation pledge reflects the German global building materials giant’s proven focus on operational leadership and a strong asset base.

The forecasted improvem

HeidelbergCement says it will return more cash to shareholders and be "disciplined" about acquisitions, having chosen to stay out of a merger between rivals Holcim and Lafarge that is creating the biggest single cement producer in the industry, Reuters news agency reports. Germany-based HeidelbergCement, which has met significant debt reduction and other financial targets it set in 2009, said on Wednesday it would focus on raising its dividend, expanding the company, cutting debt further and possibly buying

HeidelbergCement’s revenue rose by 13% to €15.16 billion in the 2016 financial year – with its acquisition of Italcementi the key driver of growth.

The German building materials giant says its integration of Italy-based Italcementi is ahead of schedule, with synergies from the acquisition increased to €470 million.

HeidelbergCement’s consolidated financial statement for 2016 also revealed that cash flow from operations also rose by 29% to €1.9 billion in 2016. The company is proposing a dividend to sh