Switzerland: Holcim's net income has more than doubled to Euro360m for the first quarter of 2015 due to its sale of its minority stake in Siam City Cement. Sales of cement volumes fell by 5.5% to 31.2Mt from 33Mt in the same period. Net sales fell by 2.8% to Euro3.78bn.

"Holcim reported robust development in the first quarter 2015, with an increase in financial performance despite a different weather pattern and some volume declines compared to a very strong previous year's quarter. Holcim also generated higher cash flow from operating activities and increased net income significantly supported by the gain from the divestment of the Group's minority shareholding in Siam City Cement," said Bernard Fontana, CEO of Holcim.

Cement deliveries declined in the period as all group regions except North America and Latin America sold less volume. However, in markets including Mexico, the US and the Philippines, more cement was sold. Holcim expects that its key construction markets in 2015 will be the US, India, Indonesia, Mexico, Colombia, the UK and the Philippines. Flat development and market uncertainty is expected in Europe and Latin America respectively.