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HeidelbergCement confirms outlook despite slightly weaker market

HeidelbergCement confirms outlook despite slightly weaker market
FILE PHOTO: A logo of HeidelbergCement is pictured at their headquarters in Heidelberg, Germany, June 21, 2016. Picture taken June 21, 2016. REUTERS/Ralph Orlowski -
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Ralph Orlowski(Reuters)
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FRANKFURT (Reuters) – HeidelbergCement <HEIG.DE>, the world’s No.2 cement maker after LafargeHolcim <LHN.S>, on Tuesday posted a slight rise in core earnings (RCOBD) in the second quarter, but said market dynamics had weakened slightly.

The group’s preliminary result from current operations before depreciation (RCOBD) came in at 1.05 billion euros (£964.12 million) in the second quarter, a like-for-like increase of 1%, the group said.

“Despite a persistently challenging environment, we increased our revenue and result in the first half of 2019,” CEO Bernd Scheifele said in a statement.

The company confirmed its full-year guidance and said it was on track to accomplish its portfolio optimisation target of disposals worth 500 million euros by the end of the year.

(Reporting by Christoph Steitz and Tassilo Hummel; Editing by Michelle Martin)

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