Heidelberg Cement sees higher operating income in 2013

Bywxy

Updated Fri, 15 Mar 2013 00:00:00 GMT

German cement maker Heidelberg Cement expects operating income to grow in 2013 on rising demand from North America, Asia and Africa.

According to Thomson Reuters StarMine analysts estimate 2013 operating income rising to 1.68 billion euros ($2.18 billion) from the 1.61 billion euros HeidelbergCement posted for 2012.

The company, based in Heidelberg in southern Germany, already said on Feb. 7 it expects to be able to raise prices this year following a pick-up in demand in some of its markets in Asia, Africa and North America.

It also said it aimed to accelerate a cost-cutting programme to save an extra 150 million euros this year, which will bring its target for cutting annual costs over the three years ending 2013 to 1 billion euros.

Operating income in the fourth quarter rose almost 11 percent to 455 million euros.