Revenues for German HeidelbergCement up 4.3 pct in 2019

Source: Xinhua| 2020-02-18 21:29:42|Editor: huaxia

BERLIN, Feb. 18 (Xinhua) -- German building materials company HeidelbergCement announced on Tuesday that its revenues increased by 4.3 percent to 18.9 billion euros (20.5 billion U.S. dollars) in the fiscal year 2019.

Solid revenues from the cement, aggregates and ready-mixed concrete business had been offset by lower revenues from trading activities which saw a reduction in the trading of fuels in the fourth quarter of 2019, said the company.

Results from current operations before depreciation increased by 15.5 percent to 3.6 billion euros. HeidelbergCement had "concluded the 2019 business year successfully," said Dominik von Achten, chairperson of the company's managing board.

Western and Southern Europe had recorded "the highest rise", followed by Asia-Pacific and Northern and Eastern Europe-Central Asia. Results in North America and Africa-Eastern Mediterranean Basin "also developed positively", according to HeidelbergCement.

The company's total net debt was "significantly reduced further in the fourth quarter 2019" and declined by approximately 1.2 billion to 7.1 billion euros compared to the previous year, according to the company headquartered in Heidelberg.

"As already in the third quarter, we were able to generate a strong cash flow also in the last quarter and thereby net debt fell markedly below the already downward adjusted forecast from November 2019," said Lorenz Naeger, chief financial officer of HeidelbergCement.

For 2020, HeidelbergCement is expecting "demand to further develop positively in many markets", particularly in the emerging markets.