Latest News

Heidelberg Materials' Q1 results beat expectations due to strong Africa business

Heidelberg Materials, the second largest cement manufacturer in the world, reported sales and profits that exceeded expectations for its first quarter. The company also confirmed its outlook citing strong growth across Africa.

The first-quarter results from current operations of the company rose 1.3%, to 235 millions euros ($266million), exceeding the average polled forecast by the group.

Dominik Von Achten, CEO of the company, said that despite the political and economic uncertainty as well as the difficult weather conditions in certain regions, the 2025 financial period started off very positively.

Holcim, a larger competitor, cited a strong North African business as one of its drivers for better than expected first-quarter earnings late last month.

Heidelberg Materials still expects RCO of between 3.25 and 3.55 billion euro in 2025, as opposed to a consensus estimate of 3.44 billion.

It said that the company's North American RCO, which accounted for nearly two-thirds of its first-quarter sales, had dropped by almost two-thirds.

(source: Reuters)