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Displaying items by tag: Switzerland
Jacques Bourgon resigns from Holcim
10 December 2014Switzerland: Holcim Group has announced that Jacques Bourgon, its current head of occupational health and safety, senior advisor to the CEO and senior manager has decided to resign from the group to pursue challenges outside Holcim. He will leave on 31 December 2014. Holcim thanked Jacques Bourgon for his valuable contributions over his 24 years at the company.
Holcim expects to pick buyers for assets in January 2015
18 November 2014Switzerland: Holcim has said that it expects to have selected buyers for the assets that it must divest to push through its merger with Lafarge by the end of January 2015. Holcim's CFO Thomas Aebischer said that the company had received more than 60 non-binding bids by 20 October 2014.
Holcim reports weak growth in the first nine months of 2014
05 November 2014Switzerland: Holcim has reported increased cement sales volumes, increased net sales and increased operating profits for the first nine months of 2014, although growth was weaker than expected due to the uneven global economic recovery.
Group-wide cement volumes increased by 1.6% year-on-year to 106Mt over the first nine months of 2014, mainly driven by positive volume developments in the US, India and the Philippines, which offset lower volumes in Azerbaijan, Italy and Argentina.
Consolidated net sales were up by 3.4% year-on-year as a result of higher volumes and better pricing in many markets. Consolidated net sales decreased by 4.7% to Euro11.8bn. Negative currency effects, mainly in Asia Pacific and Latin America, were the main contributor, weighing on consolidated net sales by Euro871m. Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 0.7% year-on-year. Consolidated operating EBITDA was down by 7.1% to Euro2.27bn, mainly due to currency effects. Adjusted for restructuring and merger costs, operating EBITDA was Euro2.34bn. North America and Europe, the two group regions less affected by the significant currency effects, recorded growth in operating EBITDA.
Operating profit reached Euro1.43bn, an increase of 2.8%. Like-for-like and adjusted for merger and restructuring costs, operating profit increased by 7.8% or Euro117m. Net income was down by 9% to Euro96.2m, partly because Holcim has not yet received the final compensation installment of Euro77.9m for the nationalisation of Holcim Venezuela, which was due on 10 September 2014. In addition, the group benefited from the one-time gain from the sale of 25% in Cement Australia in 2013.
For 2014 Holcim expects the global economies to show another year of uneven performance. Construction markets in Europe are expected to have reached the bottom, with slow recovery in sight. At the same time, North American markets are expected to continue to benefit from a further recovery especially in the US. However, Latin America could continue to face uncertainties in Argentina, but should overall show slight growth in 2014. The Asia Pacific region is expected to grow, although at a comparatively slower pace than experienced in recent years. Africa Middle East is expected to gradually improve. Holcim expects cement volumes to increase in all regions in 2014 with the exception of Europe.
"Holcim posted a solid like-for-like performance in the first nine months of 2014, building on the good traction earlier in the year and despite the ongoing challenging market environment," said Bernard Fontana, CEO. "The group increased like-for-like operating profit on the back of the solid financial performance in North America, Europe and Africa Middle East. However, weak emerging market currencies continued to negatively impact consolidated financial performance, in particular in Asia Pacific and Latin America."
Holcim chases Venezuela over missed payment
06 October 2014Venezuela/Switzerland: Holcim Ltd has said that it will continue to pursue a final payment of roughly US$100m from Venezuela after the country's government failed to complete compensation payments related to the nationalisation of the Swiss cement company's operations in the country.
Holcim has already received US$552.5m out of a total of US$650m compensation that it expected following the nationalisation of Holcim Venezuela in 2008.
However, Corporación Socialista Del Cemento, SA, the state-owned company that now operates the former Holcim plants, hasn't transferred a final installment of US$97.5m, according to Holcim. The payment was been due on 10 September 2014.
"Holcim is in contact with the relevant parties in Venezuela to address this situation and, if necessary, will pursue all legal steps to collect the amounts due," said a Holcim statement.
New LC3 cement mixture developed
24 September 2014India: Swiss, Indian and Cuban researchers have come together to develop limestone calcined clay cement (LC3), which can help reduce the carbon dioxide emissions of cement by almost 30%.
"The LC3 project is an example of scientific and technical collaboration between Switzerland and India. The innovative cement production process on which these institutions are working is of great economic and environmental significance," said Switzerland Ambassador to India Linus von Castelmur.
The LC3 is a synergetic hydration of clinker, calcined clay and crushed limestone to achieve the performance required from commercial cements, with clinker factors as low as 0.40. It also costs less than traditional types of cement.
"The testing and application phase is over, now it has to pass through standardisation committee before it is accepted by the industries. The research that has been done will not be patent protected but available to everyone," said Castelmur.
Bernard Terver appointed area manager of India
14 May 2014Switzerland: Onne van der Weijde, Area Manager for India until 25 April 2014, and member of Holcim Senior Management, will leaves Holcim effective from 1 June 2014. The member of the Holcim Executive Committee, Bernard Terver, responsible for the Indian Subcontinent, will take over direct responsibility for the country.
Switzerland: Holcim has reported its first quarter of 2014 operating results, citing increased like-for-like sales and sales volumes in all of its business segments.
"Holcim reported a significant increase in operating profit during the first quarter of 2014, mainly driven by higher like-for-like cement volumes in all group regions and the continued strong momentum of the Holcim Leadership Journey coupled with strict cost management across the group," said Bernard Fontana, CEO of Holcim. "Margins continued to increase and cash flow from operating activities was also better than in the first quarter of 2013."
Consolidated cement sales increased by 2.9% to 33.0Mt in the first quarter of 2014. This positive development was mainly attributable to Europe, where France, Germany and Russia reported the strongest increases. Net sales reached Euro3.35bn, a fall of 5.4% that was mainly influenced by negative currency effects. On a like-for-like basis net sales were up by 7.8%. Consolidated operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased by 5.1% to Euro507m but grew by 10.1% when adjusted for foreign exchange effects and changes in consolidation. Driven by higher sales, most European group companies reported higher operating EBITDA, while North America, the Middle East and Africa recorded better operating results.
Operating profit was Euro242m, an increase of 9.3%. On a like-for-like basis the growth in operating profit reached 28.4%. Net income, which in the first quarter of 2013 benefited from the sale of a 25% stake in Cement Australia, decreased by 39.5% year-on-year and reached Euro147m. Adjusted for this transaction in 2013 net income was up by 19.6%. Net income attributable to shareholders of Holcim Ltd was down by 57.5% to Euro65.6m. Cash flow from operating activities, which is traditionally negative in the first quarter, improved by 24.9% and reached negative Euro199m. Over the last 12 months Holcim reduced its net financial debt by Euro589m from Euro8.86bn to Euro8.20bn.
As part of the Holcim Leadership Journey, the company continued to optimise its portfolio in the first quarter of 2014 and sold its activities in French Guyana and acquired a port facility in the Philippines. Holcim has made progress with its plans to further optimise its strategic portfolio in Europe, having secured approval for the transaction with Cemex in the Czech Republic and is awaiting the decision on the other parts of the transaction. For the planned streamlining of the ownership structure of its Indian operations, Holcim has received approvals from the High Courts in Delhi and Gujarat and is now awaiting final approval from the Foreign Investment Promotion Board.
On 7 April 2014, Holcim and Lafarge announced their intention to combine the two companies through a merger of equals, which was unanimously approved by their respective board of directors and fully supported by the core shareholders of both companies. After a strategic optimisation of the portfolio through a proactive divestment process in anticipation of regulatory requirements, LafargeHolcim would occupy complementary positions. The proposed combination would be structured as a public offer filed by Holcim for all outstanding shares of Lafarge on the basis of a 1 for 1 exchange ratio and closing is expected in the first half of 2015.
For 2014 Holcim expects global economies to show another year of uneven performance. Construction markets in Europe are expected to have reached the bottom with slow recovery in sight. North American markets are expected to continue to benefit from a further recovery, especially in the United States. Latin America could continue to face uncertainties in Mexico but should overall show slight growth in 2014. The Asia Pacific region is expected to grow, although at a comparatively slower pace than experienced in recent years. Africa and the Middle East are expected to gradually improve. Holcim expects cement sales volumes to increase in all regions in 2014.
Holcim board changes planned
05 March 2014Switzerland: Holcim's board of directors plan to nominate Jürg Oleas for election as a new board member at the company's annual general meeting on 29 April 2014.
Oleas, aged 56 and a Swiss national, holds an MSc in mechanical engineering from the Swiss Federal Institute of Technology in Zurich. He is the CEO of GEA Group AG, a Dusseldorf-based mechanical engineering company listed on Germany's MDAX stock index. Before joining the GEA Group, he spent nearly 20 years with ABB and the Alstom Group, where he held several management positions.
The Holcim board of directors also intend to propose the election of Wolfgang Reitzle as the new chairman. He will be proposed to succeed Rolf Soiron, who has been the chairman for the past 11 years and a member of the board of directors for 20 years.
Holcim's net profit soars by 59.3% in 2013
27 February 2014Switzerland: 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.
55m high-pulverised lignite silo for Swiss cement plant
06 February 2014Switzerland: Thorwesten Vent has completed a turnkey contract for the design and assembly of a large capacity silo for the storage of pulverised lignite in Switzerland. In close cooperation with its sister company, Silobau Thorwesten, the engineering teams of both companies designed a 2300m3 silo that is 55m high and 9m in diameter.
Besides the silo cell, which is equipped with a maintenance-friendly flat roof, Thorwesten delivered all of the safety equipment for required conformation to regulations. The company used its newly-developed self-reclosing explosion venting devices based on a carbon-fibre lid and an emergency inerting system in combination with an intelligent analysis and monitoring system. Additional components, including instrumentation and an in-feed line, completed the order.