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HeidelbergCement Q1 loss narrows YOY

HeidelbergCement AG said its first-quarter normalized net income was a loss of 13 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 32 cents per share.

The per-share loss decreased 25.4% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €25.1 million, compared with a loss of €31.9 million in the prior-year period.

The normalized profit margin rose to negative 0.7% from negative 1.1% in the year-earlier period.

Total revenue rose 33.6% on an annual basis to €3.79 billion from €2.83 billion, and total operating expenses grew 36.0% year over year to €3.71 billion from €2.73 billion.

Reported net income totaled a loss of €74.1 million, or a loss of 37 cents per share, compared with a loss of €62.2 million, or a loss of 33 cents per share, in the prior-year period.