Switzerland: Swiss cement maker Holcim has announced a net profit increase of 59.3% to Euro1.3bn for 2013.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 0.2% to Euro3.21bn, boosted by the performance in the US, the UK, Germany, Ecuador and the Philippines, while India, Mexico, Canada and Brazil had a negative impact. The EBITDA margin grew to 19.8% from 18.4%. After adjustments for restructuring costs that were booked in 2012, EBITDA declined by 5.6%.
Revenue dropped by 6.8% to Euro16.2bn due to exchange rate effects and low prices in some markets. Holcim's cement sales fell by 2.4% mainly due to a decline in the Asia/Pacific business. The high demand in Russia and Azerbaijan boosted sales in Europe.
For 2014 the company expects cement demand to grow in all regions and operating profit to improve in organic terms.