Construction – Heidelberg – Corona crisis depresses business of HeidelbergCement – Economy

Heidelberg (dpa) – The building materials manufacturer HeidelbergCement has felt the corona crisis. Sales fell in the first quarter by seven percent year-on-year to 3.93 billion euros, as the Dax group announced in Heidelberg on Thursday. In addition to lower sales, HeidelbergCement justified this primarily with a decline in the trading business. The adjusted earnings before interest, taxes, depreciation and amortization increased in the first three months of the year by three percent to 405 million euros. The company initially did not provide any information on the bottom line.

Due to the Corona crisis, HeidelbergCement launched a new savings program at the end of February. For example, with fewer personnel expenses, voluntary salary cuts for management, restrictions on investments and lower tax payments, the company wants to cut spending by one billion euros. In addition, HeidelbergCement wants to distribute less to the shareholders. The management board and the supervisory board want to propose a dividend of 0.60 euros per share for the 2019 financial year to the general meeting. The dividend proposal was originally € 2.20 per share.

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