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LafargeHolcim FY19 Profit Climbs, Sales Down; Confident To Meet FY20 Growth View

Cement giant LafargeHolcim (HCMLY.PK,HCMLF.PK) reported Thursday that its fiscal 2019 net income, group share climbed 49.5 percent to 2.25 billion Swiss francs from last year's 1.50 billion francs.

Adjusted net income group share was 2.07 billion francs, compared to 1.57 billion francs a year ago. Adjusted earnings per share were 3.40 francs, compared to 2.63 francs in 2018.

Recurring EBITDA reached 6.15 billion francs, up 2.3 percent on a reported basis and up 6.5 percent on a like-for-like basis, driven by good pricing, improvement in efficiencies and cost savings program.

The Recurring EBITDA margin increased to 23 percent in 2019 from 21.9 percent in 2018.

Net sales, however, dropped 2.7 percent to 26.72 billion francs from 27.47 billion francs last year. On a like-for-like basis, net sales grew 3.1 percent.

The company recorded good growth in Europe and North America, good price dynamics across all business segments and higher prices in most markets.

For the 2019 financial year, the Board of Directors is proposing a cash dividend of 2 francs per registered share, subject to approval by the shareholders at the Annual General Meeting on 12 May 2020.

Looking ahead for fiscal 2020, the company said it is confident to achieve net sales growth of 3 to 5 percent on a like-for-like basis and recurring EBIT growth of at least 7 percent on a like-for-like basis.

For 2020, LafargeHolcim anticipates a continued solid market environment.

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