Heidelberg Materials provided perspective on its third-quarter performance globally, noting that revenues increased 6 percent.
The increase occurred despite reduced demand for construction materials, the company says.
“We have closed the first three quarters of 2023 with a strong result despite declining demand for our building materials,” says Dominik von Achten, chairman of the managing board at Heidelberg Materials. “On a like-for-like basis, all group areas have contributed to this result.”
Heidelberg Materials says sales volumes declined globally in all business units because of what it characterizes as a “global economic downturn.” According to the company, a demand decline in private residential construction – which was “massive” in some cases – was not offset by development in industrial commercial construction and infrastructure projects.
North America experienced slight declines in sales volumes, Heidelberg Materials adds. The company’s Western and Southern Europe Group recorded significant decreases in volumes as a result of declining construction activity.
In October, Heidelberg Materials North America acquired the aggregate assets of Bach & Co. in New York.
