May 9, 2019 / 5:17 AM / 6 months ago

HeidelbergCement confirms outlook as first quarter sales rise by 15 percent

FILE PHOTO: A logo of HeidelbergCement is pictured at their headquarters in Heidelberg, Germany, June 21, 2016. REUTERS/Ralph Orlowski

BERLIN (Reuters) - HeidelbergCement, the world’s second-largest cement-maker, on Thursday confirmed its outlook as it reported a 15 percent rise in revenues in the first quarter and a 26 percent jump in operating profit on a like-for-like basis.

Group revenues came in at 4.34 billion euros (3.73 billion pounds), which led to a result from current operations before depreciation and amortisation of 396 million euros.

“In addition to improved weather conditions, sustained strong demand and successful price increases contributed towards this positive development”, CEO Bernd Scheifele said in a statement.

He added that the company was making progress in optimising its portfolio, which had resulted in 50 million euros of savings secured by the end of the first quarter.

Reporting by Tassilo Hummel; Editing by Michelle Martin

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