logo
Plus   Neg
Share
Email

LafargeHolcim H1 Profit Down; Sees Solid Results In H2 - Quick Facts

Cement giant LafargeHolcim (HCMLY.PK,HCMLF.PK) Thursday reported that its first-half net income Group share fell 65.7 percent to 347 million Swiss francs from last year's 1.01 billion francs. Earnings per share were 0.55 franc, down from 1.68 francs last year.

Net income before impairment and divestments was 501 million francs, compared to 769 million francs last year. Adjusted earnings per share were 0.80 franc, compared to last year's 1.28 francs.

Recurring EBIT fell 28.4 percent to 1.19 billion francs from last year's 1.67 billion francs.

Net sales of 10.69 billion francs decreased 18.1 percent from 13.06 billion francs in the prior year. Sales fell 10.8 percent on a like-for-like basis, reflecting the severe impact of the implementation of strict lockdowns of construction sites in several major operating countries.

In the second quarter, recurring EBIT fell 31.6 percent from last year to 932 million francs, and net sales declined 23.9 percent on a reported basis and 17 percent on a like-for-like basis to 5.40 billion francs.

Jan Jenisch, CEO, said, "The peak of the crisis is behind us. We expect a solid second half of the year based on June's full recovery, the trend of our order book and upcoming government stimulus packages."

Looking ahead for fiscal 2020, based on the speed of June's rebound, the company expects fast demand recovery. The company said the execution of action plan "HEALTH, COST & CASH" will continue ahead of targets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets. GHSW, LLC. is recalling Trader Joe's Southwest Style Sweet Potato Sauté Bowl citing undeclared milk and egg allergens in the dressing, according to the Food and Drug Administration. The recall was initiated after it was discovered that the dressing in the bowl contains milk and egg, but are not declared on the label. California Gov. Gavin Newsom signed an executive order on Wednesday that bans the sale of new gasoline-powered vehicles in the state by 2035. With this, California plans to phase out the sale of all gasoline-powered vehicles and to drastically reduce demand for fossil fuel in its fight against climate change. The order directs the California Air Resources Board to develop a plan.
RELATED NEWS
Follow RTT