HeidelbergCement records 3.4% YoY profit drop in 2019

HeidelbergCement records 3.4% YoY profit drop in 2019

HeidelbergCement's profit was Euro1.24 billion in 2019, down by 3.4 per cent from Euro1.23 billion in 2018. Its revenue grew by 4.3 per cent to Euro18.9 billion from Euro18.1 billion. HeidelbergCement says that it reduced its specific net CO2 emissions by 1.5 per cent year-on-year to 590 kg/t from 599 kg/t in 2018 and "intensified its research and development (R&D) efforts on carbon capture and utilisation/storage (CCU/S)" in every operating region globally.

The group announced a year-on-year increase in volumes in the first two months of 2020, with all but three of its plants (HeidelbergCement subsidiary Italcementi's 2.8 MT/year Calusco plant, 2.5 MT/year Rezzato plant and 0.6 MT/year Tavernola plant in Lombardy region, Italy) still operating through the coronavirus pandemic, though it noted that construction is slowing in the US, Australia and Western Europe due to the outbreak. HeidelbergCement cancelled its 7 May 2020 annual general meeting (AGM) due to the spread of the coronavirus.

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