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UPDATE 1-HeidelbergCement Q1 operating profit slips on emerging markets
2017年5月10日 / 凌晨5点25分 / 6 个月前

UPDATE 1-HeidelbergCement Q1 operating profit slips on emerging markets

* Drop in prices in Indonesia and Ghana drag on profit

* Q1 OIBD down 3 pct to 383 mln eur vs Reuters poll avg 416 mln

* 2017 forecasts reiterated, CEO cautiously optimistic (Adds CEO comments, details on markets)

MUNICH, Germany, May 10 (Reuters) - Germany’s HeidelbergCement said its first-quarter operating profit slipped 3 percent on a like-for-like basis as a decline in emerging markets was unable to offset a significant rise in Europe and North America.

The world’s biggest maker of aggregates - coarse particles used to make building materials including concrete - cited a drop in prices in Indonesia and Ghana as well as higher maintenance costs in Western and southern Europe.

The result from current operations before depreciation and amortisation came in at 383 million euros ($417 million), HeidelbergCement said on Wednesday, below the average analyst estimate of 416 million euros in a Reuters poll.

Revenue that was flat on a like-for-like basis at 3.78 billion euros was broadly in line with expectations.

HeidelbergCement reiterated its 2017 forecasts for a moderate increase in revenue, a mid-single to double-digit rise in operating profit and a significant rise in profit before non-recurring effects.

“We remain cautiously optimistic about 2017,” said Chief Executive Bernd Scheifele, citing good economic developments in North America, Britain, Germany, Northern Europe and Australia, which generate about 60 percent of HeidelbergCement’s revenue.

Zurich-based LafargeHolcim, the world’s biggest maker of building materials, also said last week its first-quarter results were buoyed by strong trading in March thanks to a pick-up in construction activity in Europe and North America.

The Franco-Swiss cement giant, whose CEO has quit over payments to armed groups in Syria, posted a 5 percent decline in underlying profit and a 7 percent drop in revenue. ($1 = 0.9181 euros) (Reporting by Georgina Prodhan; Editing by Maria Sheahan and Victoria Bryan)

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