Heidelberg Materials, a German building materials group, has announced an upward revision of its full-year outlook following better-than-expected third-quarter results. The company now anticipates operating earnings before interest and taxes for the full year to range between EUR2.85 billion and EUR3 billion in 2023, up from the previous guidance of EUR2.7 billion to EUR2.9 billion.
The revised outlook includes a projected moderate increase in revenue compared to the previous year, excluding any scope and exchange-rate factors. Preliminary results suggest that third-quarter operating EBIT will reach EUR1.08 billion, compared to EUR874 million in the same period last year. Additionally, operating Ebitda is expected to reach EUR1.39 billion, up from EUR1.19 billion.
These figures exceed the consensus estimates provided by Vara Research, which had predicted operating EBIT of EUR972 million and operating Ebitda of EUR1.28 billion.
Furthermore, quarterly revenue for Heidelberg Materials is anticipated to be EUR5.61 billion, slightly lower than the EUR5.85 billion recorded in the previous year but still in line with market expectations of EUR5.69 billion.
Heidelberg Materials has scheduled the release of its nine-month figures on November 2nd.
