LafargeHolcim 1st Half Profit Rose Strongly, Sales Fell -- Update
31 Juli 2019 - 8:28AM
Dow Jones News
By Kim Richters
LafargeHolcim Ltd. (LHN.EB) said Wednesday that earnings rose
strongly in the first-half but sales fell slightly.
The Swiss cement maker reported a net profit of 1.01 billion
Swiss francs ($1.02 billion) for the first six months of the year,
compared with CHF318 million a year earlier. Net income before
impairments and divestments was CHF780 million, up from CHF371
million.
Sales fell to CHF13.06 billion from CHF13.27 billion, the
company said. On a like-for-like basis, net sales grew 3.5%.
While regional performance in Europe was supported by good
market dynamics, net sales in North America were hit by weather and
flooding, the company said.
LafargeHolcim's recurring earnings before interest, taxes,
depreciation and amortization without the effects of the IFRS16
accounting standard climbed to CHF2.66 billion from CHF2.48
billion.
The company backed its guidance for the full year, expecting net
sales growth of 3% to 5% and recurring Ebitda pre-IFRS16 growth of
at least 5% on like-for-like basis.
"We have a very healthy demand in construction and building
materials and we expect it to continue into the second half", Chief
Executive Jan Jenisch said in a conference call, adding that
LafargeHolcim isn't affected by trade tension.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 31, 2019 02:13 ET (06:13 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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