Switzerland: LafargeHolcim’s net sales grew by 2.2% year-on-year to Euro5.28bn in the first quarter of 2019 from Euro5.17bn in the same period in 2018. Its recurring earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 15.55 to Euro717m from Euro620m. Its cement sales volumes remained stable at 50Mt and sales volumes of ready-mix concrete increased by 2.1% to 11.1Mm3.
“We had a very strong start of the year and I am especially pleased to see our strong sales growth and an over-proportional increase in profitability. Our momentum is very positive and the Q1 2019 is the third consecutive quarter with recurring EBITDA growing faster than net sales,” said chief executive officer (CEO) Jan Jenisch. He added that the group’s decision to sell its Southeast Asian operations was, “executed with very attractive valuations, allowing us to achieve a new level of financial strength.”
By region the group performed poorly in Asia Pacific, Middle East Africa and Latin America, with falling net sales. Earnings also fell in Middle East Africa. However, significant sales increases in Europe and North America more than compensated for this.
