HeidelbergCement Reports Strong Quarterly Performance in Q3 2020

HeidelbergCement reported strong operational performance in Q3 2020. The quarterly revenue is now nearly flat, showing a decrease of 3 % YoY and amounting to EUR 4.89 billion. EBITDA is up by 13 % YoY, amounting to EUR 1.33 billion. Cement sales increased by 0.7 %  like-for-like, up to 33.8 million tons.

HeidelbergCement’s Western and Southern European operations showed the best regional performance in Q3 with quarterly revenue at EUR 1.38 billion (up by 4.9 % LFL) and quarterly EBITDA at EUR 332 million (up by 31.9 % LFL). Cement sales growth in Eastern Africa and Mediterranian showed a 15.3 % growth in Q3, amounting to 5.52 million tons.

9M 2020 revenue is down by 7.9 %, at EUR 13.14 billion. 9M cement sales volume is down by 4 % YoY, at 90.1 million tons. Aggregates and rmc sales volumes are down by 4.6 % (at 220.8 million tons) and 9.5 % YoY (at 34,5 million m³) respectively.

Strong cash generation and CapEx optimization led to an 18.7 % YoY net debt reduction in January-September 2020 (down to EUR 7.9 billion).

On October 12, 2020, S&P Global Ratings confirmed HeidelbergCement's existing rating of (BBB-) and raised the outlook from stable to positive.