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LafargeHolcim Q3 Recurring EBIT, Margin Rise Despite Weak Sales; Confirms Outlook

Cement giant LafargeHolcim (HCMLY.PK,HCMLF.PK) reported Friday that its third-quarter recurring EBIT grew 1.9 percent to 1.45 billion Swiss francs from last year's 1.42 billion francs. Recurring EBIT increased 10 percent on a like-for-like basis.

Recurring EBIT margin grew 250 basis points. Recurring EBIT margin expanded across all regions as volumes continued to recover across most geographies.

Net sales for the period decreased 9.6 percent to 6.46 billion francs from prior year's 7.14 billion francs. On a like- for-like basis, sales fell 2.6 percent.

Further, the company confirmed its outlook, and continues to expect resilient demand for the fourth quarter. Further, the execution of action plan "HEALTH, COST & CASH" will continue ahead of targets.

Jan Jenisch, CEO, said, "I expect a solid closing of 2020 resulting in a Free Cash Flow of above CHF 2.75 billion and a strong balance sheet that will allow us to pursue growth opportunities."

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