Strong sales in the Middle East and Africa, synergies and favourable pricing saw LafargeHolcim
increase its net sales by 5.3% on like-for-like basis in Q1 2017. The French-Swiss building materials giant also saw its Operating EBITDA Adjusted rise 14.5% on like-for-like basis in the first quarter of 2017, compared to the same period of last year.
Eric Olsen, CEO of LafargeHolcim said: “Our good Q1 performance has got us off to an excellent start for 2017 and marks our fourth consecutive quarter of earnings growth.
“Continued pricing strength, improving volume momentum and synergies underpinned our results across the portfolio. Our Middle East Africa region performed particularly well, with a recovering Nigeria making a notable contribution to earnings growth. India showed encouraging signs in the quarter with the impact of demonetisation now behind us, while our US business was robust despite tough prior year comparisons on the back of mild weather in the first three months of 2016.
“Our performance in the first quarter, and our continued strong execution combined with our diverse portfolio reinforces our confidence in achieving our full year guidance and our 2018 targets.”
In a trading statement, LafargeHolcim said that the Group would this year deliver sustainable, profitable growth through continued strong focus on lower Capex, structural cost savings, synergies and commercial differentiation of its products and building solutions. This, the Group says, will be particularly supported by the contribution of several markets such as the US, India, Nigeria and some countries in Europe. LafargeHolcim forecasts that demand in its markets will increase by 2-4% in the full 2017 year.