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Heidelberg Cement reports drop in profit

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HeidelbergCement has reported that its profit for the second quarter of 2014 declined to Euro233 mn from Euro368 mn in the same period of 2013. However, earnings before interest and income taxes (EBIT) grew to Euro527 mn from Euro511 mn in 2013. Revenues for the quarter were Euro3.57 bn, down from Euro3.59 bn in 2013. HeidelbergCement?s cement and clinker sales volumes rose by 4 per cent to 22.3 MnT compared to 21.4 MnT during the second quarter of 2014. HeidelbergCement will divest its building materials unit in September 2014 and it expects to conclude the sale quickly. Bernd Scheifele, HeidelbergCement?s CEO, said that the company is in talks with private equity fund owners for this sale.

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