HeidelbergCement (HDELY.PK) reported Thursday that its second-quarter profit Group share was 623 million euros, compared to loss of 3.03 billion euros last year. Earnings per share – Group share – were 3.14 euros, compared to loss of 15.26 euros a year ago.
Adjusted Group share was 474 million euros or 2.39 euros per share, compared to last year’s 427 million euros or 2.15 euros a year ago.
Group revenue climbed 18 percent to 4.98 billion euros from 4.32 billion euros last year. Revenues grew 18 percent on a like for like basis.
Group-wide cement and clinker sales volumes increased 17 percent to 33.5 million tonnes.
Further, the company announced the launch of a share buyback program with a total amount of up to 1 billion euros and a term until September 30, 2023. The first tranche in the amount of 300 million euros to 350 million euros is scheduled to start in August 2021 and is to be completed by January 2022 at the latest.
Looking ahead for fiscal 2021, HeidelbergCement raised its outlook and now expects a strong increase in result from current operations before depreciation and amortisation and result from current operations, excluding exchange rate and consolidation effects in each case, for the 2021 financial year.
HeidelbergCement had previously anticipated a slight increase in these key figures.
Against the background of the expected strong development of results, HeidelbergCement now forecasts a rise in return on invested capital (ROIC) to clearly above 8 percent for 2021. Previously, the company had assumed an increase of above 8 percent for 2021.
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