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Nov. 7, 2019, 1:11 a.m. EST

HeidelbergCement backs 2019 view despite profit slip

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By Kim Richters

HeidelbergCement AG on Thursday backed its guidance for the year despite a drop in nine-month profit.

The German cement maker /zigman2/quotes/202418791/delayed DE:HEI +0.19%  said net profit for the period declined to 752 million euros ($839.5 million) from EUR915 million a year earlier.

Revenue for the third quarter rose 2% to EUR5.06 billion from EUR4.94 billion, it said.

The company’s third-quarter result from current operations was EUR1.60 billion, up from EUR1.44 billion, it said.

Analysts expected HeidelbergCement’s third-quarter revenue at EUR5.19 billion, according to consensus forecast provided by the company.

HeidelbergCement backed its outlook for the year, expecting a rise in sales volumes in core products such as cement, aggregates and ready-mix concrete.

DE : Germany: Frankfurt
+0.12 +0.19%
Volume: 2,682
Oct. 22, 2021 8:59p
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