Italcementi Acquisition Bolsters HeidelbergCement’s Otherwise Middling 2Q Results
Excluding the boost in business that came from the Italcementi acquisition, HeidelbergCement’s mild results extended into the second quarter, as like-for-like volumes fell across cement, aggregates, and ready mix. On the positive side, this had a limited impact on financial results as like-for-like revenue declined just slightly by 0.4% to EUR 4.6 billion. Like-for-like operating EBITDA declined by just 0.5% to EUR 964 million, as margin was largely flat.Despite middling volumes, financial perf...
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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