Displaying items by tag: capital expenditure
LafargeHolcim rolls out Health, Cost and Cash cutbacks
30 March 2020Switzerland: LafargeHolcim has announced measures to limit the ‘volatile’ impacts of coronavirus on health and business. The measures, which overrule its previous 2020 guidance, consist of: a year-on-year capital expenditure (CAPEX) reduction of Euro378m, a year-on-year fixed cost reduction of Euro283m and a reduction of net working capital ‘at least in line with level of activity.’ LafargeHolcim has said that it had Euro7.56bn strongly liquid assets as of 26 March 2020.
LafargeHolcim predicted that global construction’s cement demand will decline in April and May 2020. It said the construction sector has begun to recover in China, where all of its cement plants outside of Hubei province are once more operational. It expects to deliver 70% of it April 2019 Chinese volumes in April 2020.
FLSmidth reports coronavirus disruptions
24 March 2020Denmark: FLSmidth has reported ‘increasing disruptions to customers’ and its own operations’ and higher costs due to ‘more complex logistics and a weaker fixed cost absorption’ following the coronavirus outbreak. It says that around half of employees are working remotely.
FLSmidth continues its business improvement initiatives launched in 2019 and has implemented a capital expenditure (CAPEX) reduction, salary adjustment postponement and hiring freezes.