LafargeHolcim: earnings up, forecasts confirmed
(CercleFinance.com) - The Franco-Swiss cement maker LafargeHolcim significantly improved its results and balance sheet in the first half of 2019, and confirmed its forecasts for full-year 2019.
H1 sales reached 13.1 billion Swiss francs (c. 11.9 billion euros), up 3.5% like-for-like. Recurring EBITDA rose by 7.2% on a reported basis and by 10.8% like-for-like to 2.7 billion Swiss francs, while adjusted net profit (excluding depreciation and disposals) soared by 110% to 780 million Swiss francs (1.30 Swiss franc per share).
On its balance sheet, and in particular thanks to free cash flow that has become positive again, net financial debt fell by almost 30% to 11.3 billion Swiss francs.
Finally, LafargeHolcim confirms that it expects FY 2019 organic sales growth of 3% to 5%, with recurring EBITDA that is up at least 5% in these same terms.
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