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LafargeHolcim H1 Profit Soars, Net Sales Down; Confirms FY19 View- Quick Facts

Cement giant LafargeHolcim (HCMLY.PK,HCMLF.PK) reported Wednesday that its first-half net income attributable to shareholders surged to 1.01 billion Swiss francs from last year's 318 million francs.

Adjusted attributable net income was 780 million francs, compared to 371 million francs last year. Adjusted earnings per share were 1.30 francs, compared to 0.62 franc a year ago.

Recurring EBITDA was 2.66 billion francs, 7.2 percent higher than last year's 2.48 billion francs. Recurring EBITDA grew 10.8 percent on a like-for-like basis.

Net sales, meanwhile, dropped 1.6 percent to 13.06 billion francs from 13.27 billion francs last year. On a like-for-like basis, net sales increased 3.5 percent, driven by successful pricing management and higher cement volumes.

Net Sales grew in all regions supported by a favorable market environment in general, in particular in Europe and North America.

Jan Jenisch, CEO, said, "All business segments have contributed to this success and to the continued over-proportional growth in profitability. ….We are executing our Strategy 2022 - 'Building for Growth' at full speed and we are confident that we will achieve our targets for 2019."

Looking ahead for fiscal 2019, the company continues to expect net sales growth of 3 to 5 percent and recurring EBITDA growth of at least 5 percent, both on a like-for-like basis.

Solid global market demand is expected to continue in 2019.

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