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HEIDELBERGCEMENT HeidelbergCement closes 2020 financial year with record results Press release Result from current operations before depreciation and amortisation grew like - for - like by 6 % to € 3.7 billion compared to the previous year Margin significantly increased from 19.0 % to 21.1 % driven by all Group areas COPE action plan overachieved with cash savings of around € 1.3 billion Net debt significantly reduced by € 1.5 billion ; leverage ratio of 1.86x already within target range CO₂ reduction targets to be embedded in the remuneration systems across the Group as from 2021 ; major progress in industrial scaling of CO2 reduction and capture ( CCU / S ) Good start into the year confirms optimistic view of building materials market development in 2021 Today , HeidelbergCement presented preliminary , unaudited figures for the full year 2020 , as planned . In a difficult market environment , the result from current operations before depreciation and amortisation rose like - for - like by 6 % to a record € 3.7 billion . Consistent implementation of the COPE action plan led to cash savings of around € 1.3 billion . HeidelbergCement AG , Group Communication P.O. Box 10 44 20 , 69034 Heidelberg , Germany Phone + 49-6221-481-13227 , Fax + 49-6221-481-13217 www.heidelbergcement.com , e - mail : info@heidelbergcement.com " We closed the 2020 financial year with a top result , " said Dr. Dominik von Achten , Chairman of the Managing Board of HeidelbergCement . " We were able to not only reach but exceed our forecast for all key figures . The key to this success was the good operational performance across our market regions and business lines . We managed to more than compensate for the coronavirus - related decline in sales volumes through consistent spending discipline . This is a great result of the entire HeidelbergCement team , of which I am very proud . My thanks therefore go to all employees for their extraordinary commitment in the past year . " Significant increase in results despite declining revenue In 2020 , the impact of the coronavirus pandemic affected construction activities and thus demand for building materials . After the sharp drop in sales volumes in the second quarter at the height of the first COVID - 19 - related lockdowns , demand increased significantly again in the following months , but was unable to fully compensate for the losses by the end of the year . Due to the decline in sales volumes , Group revenue for 2020 decreased by 6.6 % to € 17.6 billion ( previous year : 18.9 ) . Excluding consolidation and currency effects , it fell by 4.6 % .