German construction materials group HeidelbergCement said on Thursday that sales and profits stagnated in 2013, weighed down by the strength of the euro.
Even though the group had previously been forecasting higher sales and operating profit, full-year revenues slipped by 0.6 percent to 13.94 billion euros ($18.9 billion) and operating profit was down 0.2 percent at 1.61 billion euros.
Had exchange rates remained stable, sales and profit would have increased by 3.4 percent and 5.2 percent respectively, HeidelbergCement said in a statement.
In the fourth quarter alone, sales were unchanged at 3.5 billion euros while operating profit inched higher by 2.4 percent to 463 million euros.
Full details of the 2013 figures would be published on March 19.
Chief executive Bernd Scheifele said the group was "cautiously confident" for the future.
And "in 2014, we will aim to improve our margins further," he said.
German construction materials group HeidelbergCement said on Thursday that sales and profits stagnated in 2013, weighed down by the strength of the euro.
Even though the group had previously been forecasting higher sales and operating profit, full-year revenues slipped by 0.6 percent to 13.94 billion euros ($18.9 billion) and operating profit was down 0.2 percent at 1.61 billion euros.
Had exchange rates remained stable, sales and profit would have increased by 3.4 percent and 5.2 percent respectively, HeidelbergCement said in a statement.
In the fourth quarter alone, sales were unchanged at 3.5 billion euros while operating profit inched higher by 2.4 percent to 463 million euros.
Full details of the 2013 figures would be published on March 19.
Chief executive Bernd Scheifele said the group was “cautiously confident” for the future.
And “in 2014, we will aim to improve our margins further,” he said.
