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The company said there was strong operative development compared to previous year, based on growth in sales volumes in North America and Asia as well as successful price increases.
The Q2 results show revenue up 11% to €3.8 billion; operating income before depreciation (OIBD) up 7% to €698 million; operating cement margin improved; operating cash flow improved by €196 million to €505 million and net debt reduced by €456 million compared to Q2 in 2011.
The FOX 2013 savings programme is ahead of schedule and new initiatives have been started: LEO to reduce logistic costs and PERFORM to improve cement margins.
“The result of the second quarter confirmed our outlook for the 2012 financial year,” says Dr Bernd Scheifele, chairman.
“In North America we see a stronger than expected growth in demand. In contrast, construction activity in some European countries has weakened. Regarding margin development, we expect further declining cost pressure for energy in the second half of the year. We will unabatedly continue our efforts to reduce costs, improve efficiency, and increase prices.
“Thanks to our advantageous geographical positioning in attractive markets in both emerging and industrialised countries, HeidelbergCement is excellently positioned to benefit over-proportionally from the continued economic growth.
“We will do everything in our power to continue this positive trend in the second half of 2012.”
