Few Surprises in HeidelbergCement’s First Quarter; We Don’t See Much Upside from Here
HeidelbergCement reported mild first-quarter results, as the continued stellar performance in North America and a turnaround in Europe was offset by challenges in Asia and Africa-Eastern Mediterranean Basin. Companywide operating EBITDA declined more than 3% on a like-for-like basis amid flat revenue. This quarter’s results remind us the challenges that come with the diversification of a global footprint. Nevertheless, we’re encouraged the company’s progress on headcount reduction and synergy re...HeidelbergCement is engaged in the production and distribution of cement and aggregates, concrete and building products. Co.'s product range is complemented by downstream activities, such as ready-mixed concrete, concrete products, and concrete elements; in some countries, asphalt and building products, such as bricks and roof tiles, lime, or sand-lime bricks, are also manufactured. Furthermore, Co. provides services such as worldwide trading in cement and coal by sea. Co.'s products are used for the construction of houses, infrastructure, and commercial and industrial facilities.
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