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HeidelbergCement sees 35m-euro net income

HeidelbergCement sees 35m-euro net income
10.05.2006, 00:00 4

Heidelberg-Cement, the German group producing construction materials posted a net profit worth 34.6 million euros from its operations in Romania on the cement, aggregates and concrete market. Carpatcement Holding, the local division of the Germans on the cement market, announced that it had lost the suit filed against the Competition Council last year in the first court where it was tried. It had filed the suit to challenge the payment of a fine worth 8.6 million euros, which punished anti-competitive agreements on the cement market. Mihai Rohan, who has been running operations of the German group in Romania for many years, has brought business to a net margin of some 18%, through a policy of increasing sales and cutting costs. As compared with 2004, the Germans'' net cumulated profit declined by some 3 million euros. The actual growth of the net profit was of approximately 3.5%. HeidelbergCement estimates a 10% turnover increase to 213 million euros for this year, company officials say. ZF

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