HeidelbergCement revenues up in 2015 with more growth expected in 2016

674 HeidelbergCement is expecting growth in sales of cement, aggregates and ready-mixed concrete in 2016 after increasing its revenues last year, while also significantly reducing company net debt.

Revenues rose by 7% to €13.5 billion, while operating income was up by 16% to €1.8 billion. Net debt was greatly reduced in 2015 to €5.3 billion.

The German building materials giant said its sales growth forecast for 2016 is a reflection of its positive outlook for the global economy; despite increasing geopolitical and macroeconomic risks.

HeidelbergCement also expects to complete its 726 Italcementi takeover at some stage this year.

“2015 was the most successful year for HeidelbergCement since the start of the financial crisis,” said Dr. Bernd Scheifele, chairman of the managing board of HeidelbergCement.

“In addition to the strong development of results, we have achieved key goals and laid the foundation for a successful future. Our new strategic priorities of ‘shareholder returns’ and ‘continuous growth’ are reflected in the considerably raised dividend proposal as well as in the planned takeover of Italcementi.”