Holcim report full-year results
HOLCIM Group have reported a 12% decline in net income to CHF1.96 billion (£1.21 billion) for the full year ended 31 December 2009, on net sales that were down 16% at CHF21.1 billion (£13.1 billion), compared with 2008.
Likewise, operating EBITDA and operating profits were down 13.2% and 17.2% to CHF4.6 billion (£2.8 billion) and CHF2.8 billion (£1.7 billion), respectively, compared with the previous year. The steepest fall in the group’s operating EBITDA occurred in Europe, followed by North America.
On the outlook for 2010, Holcim said uncertainty remained high with regard to developments in Europe and North America, but they pointed to a better outlook for the emerging markets, where the company has a strong presence.
In particular, Holcim’s Asia Pacific region, including their recent acquisition in Australia, is expected to continue growing, while Latin America and Africa Middle East are likely to experience stable business performance.
The company also said that advantages gained from a CHF857 million (£532 million) reduction in fixed costs in 2009, together with continuing measures to strengthen efficiency and competitiveness, would allow the group to start the next upturn from a stronger position and get back on track towards achieving long-term growth targets.