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Heidelberg targets higher full-year result on America boost, expense management

Heidelberg Products , the world's secondlargest listed cement maker, on Thursday raised its 2024 outlook, as a strong efficiency in The United States and Canada and performance steps across crucial markets helped balanced out volume headwinds.

The German building products business now anticipates the result from present operations for the 2024 fiscal year to be in between 3.1 billion and 3.3 billion euros ($ 3.33-3.55 billion). and 3.3 billion euros, narrowing a formerly forecast series of. between 3.0 billion and 3.3 billion euros.

Our constantly strong performance in North America. combined with a continued concentrate on expense management throughout secret. markets assisted offset volume headwinds and added to. even more increasing our functional result and enhancing our. profitability, said handling board chairman Dominik von Achten.

An effort of optimisation and efficiency measures dubbed. the Change Accelerator is anticipated to cause a yearly. outcome contribution of 500 million euros by the end of 2026, the. company said.

A specific focus area will be the optimisation of the. clinker and cement network in Western Europe, it added.

The business reported a 3% increase in its result from. continuing operations during the third quarter to 1.124 billion. euros, changed for scope and currency results.

(source: Reuters)