First publishedon www.AggBusiness.com
Jan Jenisch, LafargeHolcim CEO
LafargeHolcim saw its full year 2018 sales rise by 1.6% to €24.18 billion (CHF 27.47bn). The French Swiss global building materials giant also achieved full year recurring EBITDA profit of €5.3bn (CHF 6.02bn), a modest 0.4% rise.
It was a particularly strong year for LafargeHolcim in Europe, with 2018 full year sales up 7.8% and worth €6.65bn (CHF 7.55bn). This was said to be assisted by increased public infrastructure spending in Eastern and Central Europe combined with a rebound in construction and residential segments.
On a less encouraging note, LafargeHolcim’s Q4 2018 sales fell 1.4% to €6.01bn (CHF 6.83bn). Despite a weaker overall Q4, the company’s sales in Europe were up 3.5% to €1.64bn (CHF 1.86bn).
LafargeHolcim confirmed the 2019 outlook it gave in November 2018 when it said it expected sales growth within the 3-5% range, on a like-for-like basis. During 2018 its sales on this measure, which strips out currency and divestments, increased by 5.1%.
Jan Jenisch, LafargeHolcim CEO, said: “Our momentum accelerated in the second half of 2018 during which we exceeded our sales targets while profitability increased over-proportionally. We completed a very successful 2018 with a double-digit EPS growth and progressed significantly towards our deleveraging target. I am very proud of the fast roll-out of Strategy 2022 – ‘Building for Growth’ and congratulate all employees and teams on the impressive results. We are well-positioned and I am expecting a further acceleration of our growth and earnings dynamic in 2019.”