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News LafargeHolcim’s first quarter sales and EBIT fall in 2020

LafargeHolcim’s first quarter sales and EBIT fall in 2020

Written by Global Cement staff 30 April 2020
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Switzerland: LafargeHolcim has reported sales of Euro5.03bn in the first quarter of 2020, down by 11% year-on-year from Euro5.66bn in the corresponding period of 2019. Cement sales over the period fell by 10% year-on-year to 45.0Mt from 50.0Mt. The group’s earnings before interest and taxation (EBIT) was Euro249m, down by 14% from Euro290m.

LafargeHolcim CEO Jan Jenisch said that the results showed the group’s ‘resilience, despite the COVID-19 outbreak in China’ in January 2020. Other markets were disrupted from mid-March. “I am confident that LafargeHolcim will emerge from this pandemic as an important contributor to economic recovery as building activity gets back to normal,” he added.

LafargeHolcim’s coronavirus action plan consists of a Euro380m year-on-year capex reduction, a Euro285m year-on-year fixed cost reduction, realisation of energy price reductions, a review of all third party products and services and a reduction of net working capital in line with the level of activity.

Last modified on 01 June 2020
Published in Global Cement News
Tagged under
  • Switzerland
  • LafargeHolcim
  • Results
  • Sales
  • earnings before interest and taxation
  • coronavirus
  • China
  • economy
  • market
  • recovery
  • construction
  • capital expenditure
  • cost reduction
  • Energy
  • Price
  • reduction
  • Strategy
  • planning
  • GCW454
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