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| HeidelbergCement's turnover declined 22% German cement firm HeidelbergCement said its cement and clinker sales volumes reached 59.2 million tonnes (previous year: 68.5) in the first nine months of 2009 and were 13.5% below the previous year's level. Group turnover reached EUR 8,391 million (previous year: 10, 809) during the first nine months, a decline of 22.4% compared to the previous year. The profit for the financial year amounted to EUR 521.6 million (previous year: 2,079.2) for the first nine months. Last year's result was affected by the high book profit amounting to EUR 1,276.9 million from the sale of maxit Group. The Group share of profit amounted to EUR 419.3 million (previous year: 1,984.7). Dr. Bernd Scheifele, Chairman of the Managing Board, expects turnover also for the last quarter of 2009 to decrease. “The upturn in the Asian markets will not be able to offset the persistent weakness in the remaining Group areas. Operating income, which is supported by our massive cost saving measures, will also fall behind last year’s results. We expect a further substantial reduction in total debt by the end of 2009. With a significantly improved financing and cost structure, HeidelbergCement is well prepared to emerge from the current economic crisis in a stronger position in 2010. write your comments about the article :: © 2009 Construction News :: home page |