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LafargeHolcim Q4 Recurring EBIT Rises, Sales Down; Declares Dividend; Sees Strong Demand Ahead

Cement giant LafargeHolcim (HCMLY.PK,HCMLF.PK) reported Friday that its fourth-quarter recurring EBIT was 1.04 billion Swiss francs, up 1.9 percent from last year's 1.02 billion francs.

Recurring EBIT margin improved to 17.3 percent from 15.6 percent a year ago.

Net sales declined 8.1 percent to 6 billion francs from 6.52 billion francs a year earlier. On a like-for-like basis, net sales grew 1.5 percent.

In the quarter, sales of cement edged down 0.5 percent to 51.2 million tonnes, sales of aggregates dropped 2.5 percent to 65.8 million tonnes, and sales of ready-mix concrete declined 2.4 percent.

In the year 2020, net income, Group share fell 24.5 percent to 1.70 billion francs or 2.74 francs per share. Adjusted net income was 1.90 billion francs or 3.07 francs per share, compared to 2.06 billion francs or 3.37 francs per share a year ago. Net sales of 23.14 billion francs declined 13.4 percent on a reported basis and 5.6 percent on LFL basis.

Further, for the 2020 financial year, the Board of Directors is proposing a dividend of 2.00 francs per registered share, subject to approval by the shareholders at the Annual General Meeting on May 4.

Looking ahead for fiscal 2021, the company expects recurring EBIT growth of at least 7 percent LFL in line with Strategy 2022. The company sees good demand momentum, with positive trends in all regions.

Jan Jenisch, CEO, said, "We are going into 2021 with strong momentum. We expect further demand in H2 2021 from a broad range of stimulus programs. We are firmly on track to become the global leader in innovative and sustainable building materials and solutions."

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