LafargeHolcim 1st Half Profit Rose Strongly, Sales Fell -- Update

   By Kim Richters

LafargeHolcim Ltd. (LHN.EB) said Wednesday that earnings rose strongly in the first-half but sales fell slightly.

The Swiss cement maker reported a net profit of 1.01 billion Swiss francs ($1.02 billion) for the first six months of the year, compared with CHF318 million a year earlier. Net income before impairments and divestments was CHF780 million, up from CHF371 million.

Sales fell to CHF13.06 billion from CHF13.27 billion, the company said. On a like-for-like basis, net sales grew 3.5%.

While regional performance in Europe was supported by good market dynamics, net sales in North America were hit by weather and flooding, the company said.

LafargeHolcim's recurring earnings before interest, taxes, depreciation and amortization without the effects of the IFRS16 accounting standard climbed to CHF2.66 billion from CHF2.48 billion.

The company backed its guidance for the full year, expecting net sales growth of 3% to 5% and recurring Ebitda pre-IFRS16 growth of at least 5% on like-for-like basis.

"We have a very healthy demand in construction and building materials and we expect it to continue into the second half", Chief Executive Jan Jenisch said in a conference call, adding that LafargeHolcim isn't affected by trade tension.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

July 31, 2019 02:13 ET (06:13 GMT)

Holcim (PK) (USOTC:HCMLY)
過去株価チャート
から 5 2024 まで 6 2024