Holcim strong start in Europe

Holcim's first quarter turnover declined by 5.4 per cent to CHF4088m (EUR3342m), but on a like-for-lake basis, there was a 7.8 per cent increase and measured in euros the turnover, was off by five per cent. The operating EBITDA declined by 5.1 per cent to CHF617m (EUR504m), which represents an underlying increase of 10.1 per cent.

The trading profit increased by 9.3 per cent to CHF295m (EUR241m), while the net attributable profit dropped by 57.5 per cent to CHF80m (EUR65m), as last year's gain on the sale of a 25 per cent stake in the Australian operations to HeidelbergCement was not repeated. Net debt at the end of March was 6.1 per cent higher at CHF10,040m (EUR8232m) to give a gearing level of 53.3 per cent, little changed from the 53.1 per cent a year earlier.

Cement deliveries recovered by fiveper cent to 33Mt, while the mineral components volume rose by 4.9 per cent to 0.7Mt. The aggregates volume improved by 2.2 per cent to 29.2m tonnes but ready-mixed concrete declined by two per cent to 8.2Mm³, while sales of asphalt mix staged a 23.3 per cent recovery to 1.4Mt.

The Asia Pacific area represented 41.2 per cent compared with 45.9 per cent of turnover, or CHF1683m (EUR1376m), a 15.1 per cent, while the EBITDA was down by 17.6 per cent to CHF327m (EUR267m). Underlying cement deliveries were 1.7 per cent ahead at 18.5Mt. Area aggregates shipments improved by 3.8 per cent to 6Mt with volumes in Australia being 1.4 per cent ahead. Ready-mixed concrete deliveries advanced by 1.5 per cent to 2.5Mm³.

Holcim's European turnover, helped by a mild winter, rose from 23.9 per cent to 29 per cent of the group total and rose by 14.8 per cent to CHF1184m (EUR968m) and the EBITDA jumped from CHF29m (EUR24m) to CHF99m (EUR81m). Cement deliveries rose by 20.1 per cent to 5.2Mt, aggregates shipments improved by 8.7 per cent to 15.7Mt and ready-mixed concrete deliveries rose by 17.1 per cent to 2.7Mm³ and by 24.2 per cent in asphalt to 1.3Mt.

The Latin American turnover declined by 12.5 per cent to CHF723m (EUR591m) and the EBITDA fell by 14.3 per cent to CHF211m (EUR172m). Cement deliveries improved by 1.5 per cent to 6Mt but aggregates shipments fell by 22 per cent to 2.1Mt and ready-mixed concrete deliveries were down by 20 per cent to 1.7Mm³.