Europe holds back Holcim
Holcim’s first quarter turnover improved by 2.2% to CHF4,760m (€3,922m), which represents an increase of 7.1% on a comparable basis and measured in euros the turnover advanced by 8.1%. The operating EBITDA eased by 1.1% to CHF745m (€614m), which represents a 4.6% advance in euro terms. The trading profit edged up by 0.5% to CHF349m (€287m), while at the net attributable level there was small profit of CHF10m (€8m), representing an improvement of 1.1%, or of 7% in euro terms. Net debt at the end of March stood at CHF11,772m (€9770m), an increase of 1.9%, to give a gearing level of 59.8%, compared with 58.6% a year earlier. Details of the restructuring of parts of the business to improve returns should be announced next month.