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| HeidelbergCement – Interim Report January to September 2005 In the first nine months of the year, turnover of HeidelbergCement rose by 10.1% to EUR 5, 744 million (previous year: 5, 215). Adjusted for currency and consolidation effects, the increase amounts to 7.5%. The regions North America, Northern Europe and Central Europe East achieved double-digit growth in turnover. Price increases were necessary in almost all regions in order to at least partially offset the considerably increased energy and transport costs. Despite the high energy prices, the positive development of the global economy continued, boosted by the sustained strong growth dynamics in North America and Asia. In the euro zone, the economic dynamics remained weak as a result of the increase in oil prices. The lively demand for exports continues to provide the impetus in Germany. As a result of the situation in the job market, domestic demand will recover only slightly in the next few months. Construction investments remain in overall decline. The takeover bid by Spohn Cement GmbH was completed at the end of the respite period on 12 August 2005. Spohn Cement, including the persons acting in concert with it and its subsidiaries, now holds around 79% of the shares in HeidelbergCement. Spohn Cement GmbH is owned by members of the Merckle family, who have held shares in HeidelbergCement for decades and are also represented in our Supervisory Board. In the first nine months, 41, 613 people (previous year: 42, 589) were employed by HeidelbergCement across the Group. The decrease of around 980 employees results from restructuring measures in almost all regions. The significant increase in OIBD and operating income expected for the whole of 2005 will be primarily created by North America, Central Europe East and Africa-Asia-Turkey. write your comments about the article :: © 2005 Construction News :: home page |