Heidelberg Cement suffers losses in Q2

Heidelberg Cement Bangladesh Ltd suffered losses in the April-June period of 2022 owing to the higher cost of raw materials and freight and the weak taka against the US dollar.

The earnings per share were Tk 0.66 in the negative in the April-June period against Tk 3.56 in the same period last year, according to the unaudited financial statements of the company.

The EPS was Tk 3.63 in the negative as well in the first half of 2022 against Tk 11.79 reported in the January-June period of 2021.

The EPS declined mainly for the higher cost of raw materials and shipping charges, the depreciation of the taka and the scheduled plant repairs and maintenance costs, said the multinational company in a filing on the Dhaka Stock Exchange today. 

Per share net operating cash flows, also known as NOCFPS, were Tk 5.34 in the negative in the January-June period of 2022, compared to Tk 5.73 in the same period last year.

The NOCFPS decreased due to lower sales and lower collection from customers and increased payments to suppliers for the higher raw materials prices, said the company.

The net asset value was Tk 60.37 per share on June 30 this year and Tk 66.60 on December 31 last year. The NAV decreased mainly for the first half net loss, said Heidelberg Cement.