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Hanson parent reports Q1 loss of 63m euros

Heidelberg Cement, the German parent of building materials suppliers Hanson lost 63m euros in the first quarter of 2009, compared with the same period in 2008.
The company, Germany’s largest producers of cement, says that demand for building materials fell because of the economic crisis and a long winter in Europe and North America.

Sales fell to euro2.4 billion from euro3 billion in the first quarter of 2008; the company made a net profit euro1.3 billion in the first quarter of 2008.

Heidelberg said sales volumes of cement fell 18% in the first quarter to 16m metric tons from 20 m metric tons in the first quarter of 2008.

Ready mixed concrete sales volumes decreased 24% to 8m cu m from 10m cu m in the first quarter of 2008.

Heidelberg said the markets had been particularly bad in Europe, Spain, the U.K., Turkey and North America as well as parts of central Asia. The company also blamed “a long-lasting period of wintry weather,” in Europe and North America which caused further set-backs.

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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