HeidelbergCement AG said its normalized net income for the first quarter amounted to a loss of 34 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 61 cents per share.
The per-share loss narrowed 43.8% year over year from 60 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €63.5 million, compared with a loss of €112.8 million in the year-earlier period.
The normalized profit margin rose to negative 2.2% from negative 4.5% in the year-earlier period.
Total revenue climbed 12.4% year over year to €2.84 billion from €2.52 billion, and total operating expenses increased 9.8% year over year to €2.76 billion from €2.51 billion.
Reported net income totaled a loss of €110.1 million, or a loss of 59 cents per share, compared with a loss of €153.4 million, or a loss of 82 cents per share, in the year-earlier period.
