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HeidelbergCement Group
Thursday, May 05, 2011
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HeidelbergCement – Annual General Meeting

On Thursday, 5 May 2011, in the Portland Forum at the Herrenberg in Leimen, Germany.

In his speech to about 430 shareholders, CEO Dr. Bernd Scheifele offered a look back at HeidelbergCement’s successes in 2010, when it was among the few companies in the building materials sector to achieve increases in turnover, operating income and operating margin. The improvements were attributable to HeidelbergCement's excellent geographical positioning in local growth markets, as well as the cost savings and efficiency gains through successful implementation of the “FitnessPluss 2010” programme. Continued systematic debt reduction resulted in stronger key financial figures, which led to an upgrading of the company’s credit rating by the rating agencies. During the crisis, HeidelbergCement carried on investing in attractive growth markets. In 2010 alone, the company expanded cement production capacity by a further 4 million tonnes in Indonesia, Africa and Russia.

The shareholder structure of HeidelbergCement continued to diversify over the past 12 months, especially after the company joined the ranks of the DAX 30,
along with an increase in the proportion of European value-oriented investors in the shareholder pool. In a survey of analysts and institutional investors, debt reduction and operational efficiency, in line with the strategic direction of the company, were cited as the primary targets for HeidelbergCement, and the company’s capital market communication was rated above average.

Dr. Scheifele also reported on the results and developments in the recently ended first quarter 2011, reconfirming HeidelbergCement’s outlook for the remainder of the year as presented at the press conference on 2010 results in March. HeidelbergCement will continue its efforts to increase efficiency and reduce debt, while maintaining its strategy of targeted investment in cement capacities in growth markets. Thanks to the company's global presence in attractive markets throughout both the emerging and industrialised world, and as market leader in aggregates, HeidelbergCement is ideally positioned to profit over-proportionally from further global economic recovery underpinned by growing momentum in North America.

Approval of the new Managing Board remuneration system
The Annual General meeting has approved the new Managing Board remuneration system with a substantial majority of more than 96 %. The new system has been in place since 01 January 2011. “We are pleased that shareholders so positively received our new Managing Board remuneration system and its presentation in the annual report,” said Dr. Scheifele. “This is also a sign of the continuing professionalisation in our capital market communication, as well as our alignment with the interests of our investor base.”

Of the company’s EUR 562.5 million in subscribed share capital, 72.04% were represented.
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