German aggregates and building materials giant Heidelberg Cement grew its turnover growth by 9% to €4.8bn (USD $5.6bn) in the second quarter of 2018 and upped its adjusted operating profits by 3% to €936m.
Profit growth was held back by higher coal and oil prices during the period.
The group says that it saw strong demand in its core markets of the US, Canada, Germany, Northern Europe, and Australia during the quarter.
By year end, Heidelberg Cement is expecting a “moderate” level of turnover and operating profit growth and a significant increase in net profits.
The key concern is ever-higher energy and raw material prices during the year.
This story first appeared in Handelsblatt. July 2018.