LafargeHolcim reports solid 3Q17 results
Published by Jonathan Rowland,
LafargeHolcim reported a rise in like-for-like cement volumes in 3Q17 with growth recorded in Asia Pacific, Europe, and Latin America. Like-for-like cement sales were down in North America, and the Middle East and Africa (MEA) regions.
The company reported cement sales of 53.8 million t in 3Q17, a like-for-like increase of 4.7% on the same period last year. Year-to-date cement sales were also up 1.8% on a like-for-like basis at 155.8 million t.
Strongest growth in like-for-like volumes was seen in Latin America (up 9.5%) and Asia Pacific (up 8.7%). Europe also saw slight growth (up 0.2%). Like-for-like sales volumes in North America were down 1.6%, however, while in MEA, sales volumes were down 5%.
Globally, cement prices also improved by 5.6% in the quarter compared to the previous year on a like-for-like basis.
Financially, the company reported like-for-like EBITDA growth of 5.8% to CHF1750 million with positive news from Latin America, North America, and Europe. Market conditions remained “challenging” in Asia Pacific – despite the uptick in cement sales – and MEA, where “actions are being taken to address weakness in key countries.”
Read the article online at: https://www.worldcement.com/africa-middle-east/31102017/lafargeholcim-reports-solid-3q17-results/
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