LafargeHolcim 1st Half Profit Rose Strongly, Sales Fell
July 31 2019 - 1:58AM
Dow Jones News
By Kim Richters
LafargeHolcim Ltd. (LHN.EB) said Wednesday that earnings rose
strongly in the first-half but sales slightly fell.
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 371
million.
Sales fell to CHF13.06 billion from CHF13.27 billion, the
company said. On 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 edged up to CHF2.66 billion from CHF2.48
billion.
The company backed its guidance for the full year, expecting net
sales growth of 3%-5% and a recurring Ebitda pre-IFRS16 growth of
at least 5% on like-for-like basis.
"Our financial discipline resulted in strong progress in cash
flow and a significant reduction in debt," LafargeHolcim Chief
Executive Jan Jenisch said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 31, 2019 01:43 ET (05:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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