(RTTNews) - HeidelbergCement (HDELY.PK) reported Thursday that its fourth-quarter profit Group share increased 3 percent to 349 million euros from last year's 339 million euros.
Result from current operations went up 7 percent to 648 million euros from 603 million euros last year.
Result from current operations before depreciation and amortisation edged up 1 percent to 976 million euros from prior year's 968 million euros. On a like-for-like basis, the increase was 16 percent. Margin grew to 21.8 percent from 21.2 percent a year ago.
Group revenue decreased 3 percent to 4.47 billion euros from 4.58 billion euros last year. On a like-for-like basis, the decline amounted to 1 percent.
Cement volume increased 2 percent to 31.4 million tonnes, and Aggregates volume grew 1 percent to 75 million tonnes, while ready-mixed concrete volume dropped 2 percent.
Further, HeidelbergCement said it is resuming its progressive dividend policy faster than expected. For the past financial year, the Managing Board and Supervisory Board propose to the Annual General Meeting the distribution of a dividend of 2.20 euros, compared to previous year's 0.60 per share.
The dividend is to increase by 5 percent compared with the pre-corona year 2018.
Looking ahead, the company reported good start to the year confirming optimistic outlook for 2021. Demand is expected to develop positively in many markets.
The company expects a slight increase in revenue before exchange rate and consolidation effects in 2021.
HeidelbergCement anticipates a slight increase in the result from current operations before exchange rate and consolidation effects for 2021, as well as a significant increase in ROIC to above 8 percent.
The Group aims to achieve a ROIC of clearly above 8 percent by 2025.
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