2. Capítulo 2: Marco referencial
2.2 Marco conceptual y disciplinar
2.2.4 Sistema endocrino humano
In Africa, HeidelbergCement is represented in nine countries south of the Sahara, where it almost exclusively produces cement. Our locations in the Mediterranean Basin are situated in Spain, Israel, and Turkey. In Spain and Israel, HeidelbergCement mainly produces aggregates and ready-mixed concrete. In Turkey, our joint venture Akçansa is one of the country’s leading cement manufactur- ers; in addition, Akçansa also manages ready-mixed concrete and aggregates activities.
31.1
%0.7
%53.4
%14.8
% Building products Concrete- service-other Cement Aggregates Combined management r eport Corpor ate GovernanceConsolidated financial statements
Additional information
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The African countries south of the Sahara benefit from the dynamic raw material industry and are continuing to experience sound economic development and lively construction activity. Solid economic growth, population increase, urbanisation, and infrastructural measures are the main drivers in these countries when it comes to the rise in construction activity and cement demand. In Turkey, the economy and the construction industry are recovering from a period of weakness in the previous year. However, the high current account deficit and the depreciation of the Turk- ish currency are reasons for concern. The Turkish economy should have grown by around 3.8 % in 2013. In Spain, the economy grew minimally in the third and fourth quarter for the first time after more than two years of recession; economic output fell by 1.2 % for the whole of 2013. The dramatically high levels of unemployment, the ongoing housing crisis, as well as the austerity packages introduced by the government and the regional administrations, which resulted in heavy cuts in infrastructure expenditure, have once again led to a significant decline in demand for building materials in Spain. Israel recorded economic growth of 3.4 % as well as lively construc- tion activity, which was primarily driven by residential construction and infrastructural measures.
Cement business line
In the African countries in which HeidelbergCement operates, cement consumption rose by an average of almost 7 % in 2013. Our cement plants and grinding facilities achieved a solid over- all rise in cement shipments, with varied development in the individual markets. Togo made a particularly strong contribution to this growth, as did our main market Ghana, as well as Liberia and the Democratic Republic of Congo. Overall, cement deliveries from our African subsidiaries rose by 5.2 % to 6.6 million tonnes (previous year: 6.2). Sales prices decreased slightly in some countries as a result of increased competitive pressure, particularly through imports. Due to negative exchange rate effects, revenue and results of our African cement activities remained slightly below the previous year.
In light of the good growth prospects, HeidelbergCement is expanding its activities in Africa. In Liberia, we put a new cement mill into operation with a capacity of 0.5 million tonnes in June 2013. We are also expanding our cement production capacity in Tanzania with the construction of a new cement mill at our Tanzania Portland Cement plant. The commissioning of the mill with a capacity of 0.7 million tonnes is scheduled for the end of 2014 and will increase our cement capacity in Tanzania to 2 million tonnes. In the second half of 2014, a new cement grinding plant in Burkina Faso with a capacity of 650,000 tonnes is to go into operation near the capital of Ouagadougou. Following the expansion of the cement capacity at our Tema grinding facility in Ghana, we are undertaking a similar project at our Takoradi location. With the scheduled commissioning of a new cement mill with a capacity of 0.8 million tonnes at Takoradi at the end of 2014, we will have a cement grinding capacity of 4.4 million tonnes in Ghana. In Togo, the commissioning of our new clinker plant is expected for the end of 2014. The plant, with an annual capacity of 1.5 million tonnes, is located near the town of Tabligbo, around 80 km to the northeast of the capital, Lomé. Moreover, we are constructing a cement grinding facility with a capacity of 200,000 tonnes in the north of the country which is scheduled for commissioning in 2016. We are also evaluating options for capacity expansions in other African countries.
In Turkey, construction activities and the demand for cement have risen thanks to new infrastructure projects, such as bridge and motorway construction. Significant growth in cement consumption of around 8 % is expected for 2013. The domestic cement sales volumes of our joint venture Akçansa increased by more than 16 %. In contrast, cement and clinker exports declined significantly. All in all, the cement and clinker sales volumes of Akçansa rose by 2.5 % to 7.7 million tonnes (consolidated quantity: 3.1 million). In view of the strong domestic market, cement prices were increased substantially during the course of the year.
Total cement and clinker sales volumes in the Africa-Mediterranean Basin Group area grew by 4.3 % to 9.6 million tonnes (previous year: 9.2). Revenue of the cement business line decreased by 4.1 % to €791 million (previous year: 825).
Aggregates business line
HeidelbergCement is active in Spain, Israel, and Turkey in the aggregates business line. As a whole, the Group area’s deliveries of aggregates fell by 8.7% to 12.5 million tonnes (previous year: 13.7). The decline is primarily due to the continued weak construction activity in Spain, where our aggregates activities suffered as a result of further cuts in public funding for infrastructural measures. In Israel, our aggregates sales volumes remained also below the previous year, but the decline was more than offset by price increases. We recorded a slight rise in our deliveries of aggregates in Turkey. Successful price increases led to a significant improvement in results. Revenue of the aggregates business line rose by 3.1 % to €90 million (previous year: 87).
Concrete-service-other business line
In this Group area, HeidelbergCement conducts major ready-mixed concrete activities in Spain, Israel, and Turkey. The asphalt operating line is only represented in Israel. Deliveries of ready-mixed concrete decreased by 0.6 % in 2013 to 4.9 million cubic metres (previous year: 4.9); while Israel achieved pleasing growth in sales volumes and Turkey remained only slightly below the previous year, our Spanish ready-mixed concrete activities suffered significant declines in quantities. As a result of low construction activity in Spain, it was necessary to make further adjustments to our ready-mixed concrete capacities. Our Israeli ready-mixed concrete plants benefited from the high level of demand from the residential construction and infrastructure sectors. The asphalt operating line in Israel reported a decline of 5.5 % in sales volumes. Revenue of the concrete-service-other business line rose overall by 5.3 % to €315 million (previous year: 299).
Revenue and results
Total revenue of the Africa-Mediterranean Basin Group area increased slightly by 0.7 % to €1,143 million (previous year: 1,135). Excluding exchange rate effects, the increase amounted to 6.5 %; no consolidation effects were recorded. At €212 million (previous year: 204), operating income before depreciation (OIBD) came in 4.4 % above the previous year; excluding exchange rate effects, the increase amounted to 11.9 %. Operating income improved by 5.0 % to €174 million (previous year: 166); excluding exchange rate effects, the increase amounted to 13.5 %. Income in 2013 was negatively affected by restructuring expenses in Gabon.
Key data Africa-Mediterranean Basin
€m 2012 2013 Change
Revenue 1,135 1,143 0.7 %
Operating income (2012: restated) 166 174 5.0 %
Investment in property, plant, and equipment 80 149 86.6 %
Cement and clinker sales volumes (Mt) 9.2 9.6 4.3 %
Aggregates sales volumes (Mt) 13.7 12.5 -8.7 %
Asphalt sales volumes (Mt) 0.5 0.5 -5.5 %
Ready-mixed concrete sales volumes (Mm3) 4.9 4.9 -0.6 %
Employees as at 31 December 3,349 3,331 -0.5 %
Combined management r
eport
Corpor
ate Governance
Consolidated financial statements
Additional information
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Revenue Africa-Mediterranean Basin 2013: €1,143 million