Switzerland: LafargeHolcim has launched a new five year plan, ‘Strategy 2022 – ‘Building for Growth,’ as it has reported an income loss of Euro1.46bn. It blamed the loss on a, ‘…detailed review of the asset portfolio, and specifically the country risk.’ Its net sales rose by 4.7% year-on-year on a like-for-like basis to Euro22.7bn from Euro23.4bn. Its sales of cement rose by 3.3% on a like-for-like basis to 210Mt from 233Mt.
“In 2017 we made good progress across all key metrics. The growth in sales and the over-proportional increase in earnings before interest, taxation, depreciation and amortisation (EBITDA) represent a good performance and give us a very good basis to build on. The fact that four of our five regions reported growing EBITDA is testimony to our global strength,” said group chief executive officer Jan Jenisch. He added that the new strategy is based by a new set of targets that centre on growth, improving profitability, increasing cash generation and better returns for shareholders.