HeidelbergCement sales in Egypt drop sharply in 1Q2017

HeidelbergCement says its 1Q2017 sales dropped sharply in Egypt due to weak market conditions. While it did not give a specific figure for sales in Egypt, the company says its consolidated revenues increased by 34% y-o-y to EUR 3.8 bn. The company’s losses increased to EUR 35 mn from the EUR 31 mn recorded in 1Q2016.