HeidelbergCement reported its first quarter earnings for 2018.
Global aggregate deliveries fell by 2 percent to 59.5 million metric tons from 60.9 million metric tons in the first quarter of 2017. Strong growth in Asia-Pacific did not fully compensate for the weather-related decline in sales volumes in Europe and North America, the company reports.
While sales volumes in Europe and North America were impaired by a lengthy winter and, in turn, a reduced number of working days, some emerging countries recorded considerable success.
“HeidelbergCement generated a profit in the seasonally weak first quarter despite difficult weather conditions,” says Bernd Scheifele, chairman of the managing board for HeidelbergCement. “With the positive underlying market dynamics, we’re confident that we can significantly increase our operational performance in the coming quarters and we remain committed to our goals for the financial year.”
The company reports that its outlook for 2018 remains unchanged, as they expect growth in sales volumes of cement, aggregate and ready-mixed concrete.
“With the positive underlying market dynamics, we’re confident about 2018,” Scheifele says. “The outlook for the global economy is positive. Nevertheless, major macroeconomic and particularly geopolitical risks still exist.”
