
Displaying items by tag: prediction
FLSmidth reinstates 2020 guidance
28 August 2020Denmark: FLSmidth has announced the reinstatement of its 2020 guidance. The guidance predicts full-year sales of Euro2.28bn, down by 18% year-on-year from Euro2.77bn. Earnings before taxation, interest, depreciation and amortisation (EBITDA) margin is expected to decline to 6.0% from 8.1%. The company said that the guidance is “subject to higher uncertainty than usual” and conditional upon “no further escalation of Covid-19, no further extensive lockdowns or travel restrictions occurring before year-end, a gradual improvement in business sentiment for the remainder of 2020, and business improvement implementation of around Euro28.2m, of which Euro18.8m relate to the previously communicated improvement activities and around Euro9.40m relate to further improvement activities in cement.” It added, “The cement industry has been severely impacted, and the timing and extent of a rebound remain uncertain. Our goal for the cement business is to generate more stable, higher-margin earnings.”
LafargeHolcim Maroc shares 2019 results
17 March 2020Morocco: Switzerland-based LafargeHolcim subsidiary LafargeHolcim Maroc has recorded a profit of Euro161m in 2019, up by 7.5% year-on-year from Euro149m in 2018. Its sales held steady at Euro744m. The company says that it ‘does not anticipate any significant change in market conditions’ in 2020. Its new Agadir-Souss grinding plant is scheduled to come online in 2020.