Heidelberg Materials Q2 Profit Rises 5% Despite Sales Decline

Results Beat Analyst Expectations

ZURICH, July 30 (Reuters) - Heidelberg Materials (HEIDG.DE) on Tuesday reported a 5% increase in second-quarter operating profit to 874 million euros ($877 million), despite a downturn in sales and a challenging market environment.

Sales Decline Across Business Lines

However, the company's sales fell across all business lines in the first nine months of 2023, reflecting the impact of the global economic downturn. Sales in the cement business declined by 8%, while sales in the aggregates business decreased by 4%.

Analyst Expectations Exceeded

Despite the sales decline, Heidelberg Materials' second-quarter results exceeded Wall Street analyst expectations. Top-line sales reached 10.47 billion euros, slightly higher than the estimated 10.45 billion euros.

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