Consolidated cement volumes for Holcim group decreased 5.5 percent to 31.2 million tonnes in the first three months of the year.
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While North America and Latin America increased cement volumes, the other group regions reported declines. Aggregates volumes increased 1.2 percent to 29.5 million tonnes, as the volume growth in Europe and North America was able to make up for the negative development in other group regions.
Ready-mix concrete deliveries reached 8 million cubic meters, a decline of 2 percent, which was mainly attributable to less favorable development in Latin America, where the focus remained on high-margin applications, and North America. Asphalt sales were up markedly by 14.9 percent to 1.6 million tonnes.
Cement prices increased 4.0 percent and aggregates prices 4.2 percent.
Like-for-like net sales across the group decreased 1.6 percent during the first quarter of the year. Reported net sales were down 2.8 percent to CHF 3,972 million, as increases in North America could not compensate for lower sales in other group regions.
Operating EBITDA adjusted for merger costs of CHF 44 million was 3.3 percent higher than last year. The adjusted operating EBITDA margin increased to 16.0 percent. Reported operating EBITDA decreased 3.9 percent to CHF 593 million, impacted by merger costs and lower financial performance in the group regions Europe and Africa Middle East.
Operating profit adjusted for merger costs of CHF 44 million was up 3.5 percent, while the adjusted operating profit margin increased to 7.7 percent. Reported operating profit decreased by 11.5 percent to CHF 261 million, as increases in the group regions Asia Pacific and Latin America were not able to compensate for merger costs and lower performance in Europe and in Canada, where a harsher winter was noted.
Net income increased significantly by 111.8 percent to CHF 378 million, mainly as a result of the divestment of Holcim’s minority shareholding in Siam City Cement. Net income attributable to shareholders of Holcim Ltd was also up markedly by 289.3 percent to CHF 310 million.
Cash flow from operating activities improved 12.1 percent to CHF -214 million in the first quarter, a quarter which is traditionally lower than the others. Net financial debt over the last twelve months decreased by CHF 370 million and stood at CHF 9,670 million. ■