18 January 2008

HeidelbergCement is surprised about timing of Fitch’s Outlook change

HeidelbergCement is surprised, that Fitch changed its rating outlook from stable to negative immediately after the pricing of the EUR 1bn 6,375% benchmark bond on 18 January 2008. HeidelbergCement was not informed about the intended change prior to pricing of the bond. The rating agencies Moody’s Investor Service and Standard & Poor’s had assigned negative outlook already in May 2007.

HeidelbergCement reported about its successful development in 2007 and its progress in the integration process on 14 January 2008. On the basis of the development in sales volumes, overall turnover of approximately EUR 10.7bn and an operating income of about EUR 1.8bn are expected. Thereby HeidelbergCement confirmed its expectations published on the occasion of the announcement of the 9-months figures in early November 2007. Due to the consistent integration process HeidelbergCement is ahead of its ambitious integration time table. The expected strong synergy potential increased significantly to about EUR 350 million.

HeidelbergCement is committed to its de-leveraging strategy and to stabilize its ratings within the investment grade territory.

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Andreas Schaller

Group Spokesman, Director Group Communication & Investor Relations
Tel: 
+49 6221 481 13249
Fax: 
+49 6221 481 13217
HeidelbergCement AG
Berliner Straße 6
69120 Heidelberg
Germany