Second-half surge sees sales targets exceeded and profitability increased over-proportionally
LafargeHolcim say net sales grew 5.1 %, on a like-for-like basis, to CHF27,466 million for the full year ended 31 December 2018 (2017: CHF27,021 million), largely driven by higher cement volumes.
Recurring EBITDA reached CHF6,016 million for the full year (2017: CHF5,990 million), up 3.6% like-for-like, with cement, aggregates and ready-mixed concrete segments all contributing to the outcome.
On a like-for-like basis, sales of cement, aggregates and ready-mixed concrete were up 4.4%, 1.2% and 0.6% to 221.9 million tonnes, 273.8 million tonnes and 50.9 million cubic metres respectively.
Net debt amounted to CHF13,518 million at year-end, an improvement of CHF828 million over the prior year.
Commenting on the results, chief executive officer Jan Jenisch (pictured) 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. We are well positioned, and I am expecting a further acceleration of our growth and earnings dynamic in 2019.’