30 October 2019

Switzerland: LafargeHolcim has recorded a fall in third-quarter net sales of 3.0% year-on-year to Euro6.46bn from Euro6.68bn in 2018 and a fall of 2.1% year-on-year in 2019 to Euro18.3bn in nine-month net sales to 30 September 2019 from Euro18.7bn in the corresponding period of a 2018. Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 0.8% year-on-year to Euro1.71bn in the third quarter of 2019 from Euro1.69bn. EBITDA in the nine months to 30 September 2019 grew by 4.4% to Euro4.12bn from Euro3.95bn. The company said that it improved its margin in the Europe, North America and Asia Pacific regions, with localised profit growth in the Middle East Africa region in South Africa, Jordan and Iraq. Profitability in Latin America stabilised, with price management partially mitigating the challenges of several markets and a good performance in Colombia.

Based on the results, LafarageHolcim has reaffirmed its commitment to increase net sales by 3-5% year-on-year to between Euro25.6bn and Euro26.2bn in 2019 from Euro24.9bn in 2018, and to reduce the ratio of its net debt to recurring EBITDA to ‘well below’ two to one.

Philippines: Holcim Philippines improved its profit in the third quarter of 2019 by 158% year-on year to US$9.00m from US$3.48m. Its sales in the quarter fell by 2.7% year-on-year to US$163m from US$167m in 2018. The company sustained price increases in spite of lower demand causing a fall in volumes. Nine-month sales fell by 13% to US$465m from US$536m in the corresponding period to 30 September 2018. Upgrades to its La Union and Davao cement plants in previous quarters dragged on nine-month profit, which rose by 7.9% year-on-year to US$36.9m from US$34.2m in the corresponding period of 2018, but paid dividends in the third quarter, bolstered by the resumption of government infrastructure spending.

Denmark: FLSmidth has recorded a third-quarter profit of Euro25.4m in the three months to 30 September 2019, up by 17% year-on-year from Euro21.7m in the corresponding period of 2018. Its revenue over the period rose by 9.3% to Euro634m from Euro580m. FLSmidth CEO Thomas Schulz noted the delivery of supply operations to the cement industry on expected profitability.