EANS-Adhoc: HeidelbergCement AG
HeidelbergCement confirms its forecasts in
turnover and operating income for the financial year 2008 and proposes lower
dividend
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
17.03.2009
Managing Board and Supervisory Board of HeidelbergCement AG decided today to propose to the Annual General Meeting of Shareholders, scheduled for 7 May 2009, a dividend of EUR 0.12 (previous year: EUR 1.30) per share for the financial year 2008.
With a view to an optimization of the purchase price allocation for the Hanson acquisition, the Group made certain internal reorganisations that released significant hidden reserves and led to a profit after tax of EUR 7,511 million in the 2007 unconsolidated financial accounts of HeidelbergCement AG. In 2008, such prior year release of hidden reserves was reversed in part, so as to reflect lower profit estimates resulting from the current economic and financial crisis. As a result, HeidelbergCement AG reported a non-liquidity-related loss in the amount of EUR 2,611 million in its 2008 unconsolidated financial statements.
The aforementioned measures impacted only the unconsolidated financial statements of HeidelbergCement AG and had no effect on the consolidated financial accounts. In fact, HeidelbergCement met its forecasts for 2008 consolidated turnover and operating income. The Group turnover amounted to EUR 14,187 million (previous year: EUR 10,862 million) and operating income amounted to EUR 2,147 million (previous year: EUR 1,850 million). The Group share in profit of EUR 1,808 million (previous year: EUR 2,022 million) includes non-recurring negative effects of around EUR 400 million predominantly related to the Hanson acquisition.
Heidelberg, 17 March 2009
HeidelbergCement AG The Managing Board
end of announcement euro adhoc
Further inquiry note:
Dr. Ingo Schaffernak
+49(0)6221/481-366
ingo.schaffernak@heidelbergcement.com
Branche: Construction & Property
ISIN: DE0006047004
WKN: 604700
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