Heidelberg Materials Bangladesh posts Tk 79.10 lakh loss in Q3

Heidelberg Materials Bangladesh PLC reported a loss of Tk 79.10 lakh for the July-September quarter 2024. 

This negative result led to a loss per share of Tk 0.14, according to a disclosure on the Dhaka Stock Exchange (DSE) website. 

The company attributed the downturn to a drop in sales volume and net sales price per tonne, negatively affecting its earnings per share compared to last year.

Net operating cash flow per share also saw a decline, falling to Tk 9.77, largely due to lower collections and increased income tax payments, the company said. 

However, Heidelberg's net asset value per share rose to Tk 72.01, which it attributed to profits generated earlier this year.

Despite the third-quarter loss, Heidelberg Materials Bangladesh posted a profit of Tk 41.30 crore for the January-September period.

As one of the largest cement producers in Bangladesh, the company operates under the global Heidelberg Materials Group, which has a 150-year legacy and a footprint in over 50 countries, according to its website. 

Heidelberg solidified its presence in Bangladesh by establishing a floating terminal with packing facilities in Chattogram, serving key markets like Dhaka and the port city. 

In 1999, the company expanded with a Greenfield plant near Dhaka, ScanCement International, producing 0.75 million tonnes annually. 

The 2000 acquisition of Chittagong Cement Clinker Grinding Co. further boosted capacity. Merged in 2003, the company rebranded as HeidelbergCement Bangladesh Limited. 

It later introduced Portland Composite Cement and expanded its Kanchpur and Chattogram plants. By 2021, the company consolidated operations by merging Emirates Cement Bangladesh and Emirates Power with Heidelberg Materials Bangladesh PLC.

Shares of Heidelberg started trading at Tk 255.9, but went up 1.52 percent to Tk 259.8 as of 11:52 am today at the DSE.