* 2020 core profit up 6.1% like-for-like
* Cash savings of 1.3 bln eur in 2020
* Sales down 4.6% at 17.61 bln eur
FRANKFURT, Feb 23 (Reuters) - HeidelbergCement,
the world's second-largest cement maker, on Tuesday said it saw
a good start to 2021 after preliminary results showed core
profit was up 6% last year.
"There should be a tailwind from infrastructure programmes,
for example in the USA, Australia, India and Italy. I am also
confident about private residential construction," Chief
Executive Dominik von Achten said.
Adjusted for currency and consolidation effects, the result
from current operations before depreciation and amortisation was
up 6.1% at 3.71 billion euros ($4.51 billion) last year, while
sales were down 4.6% at 17.61 billion.
At 1.3 billion euros, cash savings blew past the group's own
forecasts of 1 billion euros, helping the group soften the
impact of the coronavirus crisis, which had a substantial impact
on construction activity last year.
"We managed to more than compensate for the
coronavirus-related decline in sales volumes through consistent
spending discipline," von Achten said.
The group also said it would tie variable remuneration of
managing board members as well as bonus-eligible employees to
both CO2 reduction and financial targets. By 2025, specific net
CO2 emissions are to be cut by 30% versus 1990 levels.
($1 = 0.8218 euros)
(Reporting by Christoph Steitz; Editing by Riham Alkousaa and