Holcim - November 2014
Holcim's turnover for the first nine months declined by 4.7 per cent to CHF14,243m, while in euro terms the reduction was 3.6 per cent to EUR12,136m and in US dollar terms the drop was just 0.9 per cent. On a like-for-like basis there was a 3.4 per cent increase. The Asia-Pacific region generated 36.6 per cent of group turnover, down from 37.5 per cent a year earlier, while Europe represented 29.9 per cent, up from 28.4 per cent. Latin America contributed 15.7 per cent against 17.1 per cent, North America 16.7 per cent against 15.7 per cent and Africa/Middle East 4.6 per cent. Margins were slightly ahead and EBITDA came off by 7.1 per cent to CHF2740m (EUR2250m) in Swiss franc terms, and by 6.1 per cent by when measured in euros and by 3.4 per cent in US dollar terms. The contributions from the associates and joint ventures (the largest associate being in China) rose by some 24 per cent to some CHF124m. The trading profit decreased by 4.4 per cent to CHF1719m (EUR1798m) and the net attributable profit fell by 10.3 per cent to CHF933m (EUR766m). Net debt at the end of September was 1.3 per cent higher at CHF10,412m (EUR8628m), giving a gearing level of 52.3 per cent compared with 54.9 per cent a year earlier. Capital investment during the nine months decreased by 10.4 per cent to CHF1149m (EUR943m), with maintenance capital expenditure was 2.1 per cent lower at CHF365m (EUR300m) and expansion investments fell by 13.8 per cent to CHF.784m (EUR644m). There was no net spending on acquisitions.