Switzerland: LafargeHolcim has announced measures to limit the ‘volatile’ impacts of coronavirus on health and business. The measures, which overrule its previous 2020 guidance, consist of: a year-on-year capital expenditure (CAPEX) reduction of Euro378m, a year-on-year fixed cost reduction of Euro283m and a reduction of net working capital ‘at least in line with level of activity.’ LafargeHolcim has said that it had Euro7.56bn strongly liquid assets as of 26 March 2020.
LafargeHolcim predicted that global construction’s cement demand will decline in April and May 2020. It said the construction sector has begun to recover in China, where all of its cement plants outside of Hubei province are once more operational. It expects to deliver 70% of it April 2019 Chinese volumes in April 2020.
